A half of Indian executives polled are open to work with start-ups as partnering with new-age companies bring in agile and innovative methods, says a survey.
However, the other half is still sceptical about working with a start-up, according to annual EY-CIO Klub’s Enterprise IT trends and investment survey titled ‘the startup gene: a way forward’.
The survey, which revolves around the idea of the startup gene, noted that the CIOs of the country can benefit from partnerships with start-ups and by imbibing the attitude of start-up entrepreneurs.
About a half of 294 Chief Information Officers (CIOs) polled have shown faith in implementing start-up practices to get their work done.
This was supplemented by the fact that 30 percent of the respondents were aligned towards ‘Do It For Me’ approach, wherein the company would want to bring in external expertise to perform certain specific tasks, rather than doing it in-house.
“Partnering with start-ups ensures that work is done in an agile and innovative manner. This can save cost, help adopt the latest in technology and become a disruptive force in the industry. However, the report claims that to be more effective, CIOs should promote these values in their own firms. The only way to adapt to change is to take the risk of adopting it,” the survey noted.
The survey said, “50 percent of the CIOs are open to working with start-ups while the other half is still sceptical.”
Besides, 81 percent of the CIOs considers that Internet-of-Things is the most imminent technology. Other trending technologies are high-speed data transfer, wearable technologies and 3D printing.
Cyber threat tops the list of key issues that give a CIO sleepless nights.
While half the companies have in-house analytics functions, the other half believe that there is greater value in engaging with outside, specialised talent, as per the survey.
“CIOs have seldom been challenged for implementing an established Enterprise Resource Planning, but they have almost always been questioned when they recommend engaging with start-ups to acquire specialised expertise,” EY India National Leader (Risk Advisory Services) Nitin Bhatt said.
“However, this is rapidly changing. We are now seeing CIOs being questioned by their executive leadership when they do not leverage the start-up ecosystem for enhancing product capability, reducing cost and furthering competitive advantage,” he added.