Bangalore, Nov 19 (UNI) The multi-millionaire Hotmail Co-founder Sabeer Mehta today strongly advocated the redesigning of the Indian education system from knowledge acquiring to knowledge application to enable the country become a global IP hub for software product industry.
Delivering a keynote address at the two-day NASSCOM Product Conclave 2007 here Mr Mehta said that the Indian education system was largely focused on mastering the knowledge and the need of the hour was to train how best it can be applied for product development.
Stating that since 10 years over trillion USD worth wealth was created at Silicon valley in United States and it was built on risks and failure and not on success. "The innovation begins with questioning on status-quo and starts thinking out-of-the-box" he said.
Stating that there was a need to educate the students how to work as a team and desist them from afraid of taking risk.
Mr Bhatia who made a big splash in the dot.com world through his innovative Hotmail.com has said that "we need to launch few breakthrough products first before penetration over 250 to 300 billion USD revenue software product market" he said.
Stating that lot of product development happens informally Hotmail Co-founder Mr Sameer felt that the crux of any new product is in finding the problem first and finding solution later.
Mr Subhash Menon, Founder Chairman and Managing Director Subex Azure who also spoke on the occasion has strongly advocated for the creation of right ecosystem consisting engineers, infrastructure, Government and industry together. "India had demonstrated its strength in the area of service industry and time has come for now to repeat in product business" he said.
He said that world offers over 350 to 450 billion USD revenue in the product business space and India's share is only around one billion and it was expected to reach 15 billion USD revenue by 2015.
"NASSCOM can play a vital role in tapping the rich potential in the area of product business" he said.