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Institutional Innovation and Entrepreneurial Deployment of a Software Product: Case of Financial Technologies Group in India
Author(s): Biswatosh Saha (Indian Institute of Management, India)
Copyright: 2010
Pages: 31
EISBN13: 9781609603274
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Abstract
This chapter represents entrepreneurship as a temporal evolution of the creation and control over assets. The value of the asset lies in its transactional relations with other assets in the ecosystem or in other words being part of the architecture of related assets. It is argued that the deployment of financial trading software, as a product in brokerage houses in the emerging securities trading ecosystem in India by the software firm called Financial Technologies (FT), hastened institutionalization of new rules governing transactions embedded in the software design. As a result, FT implicitly collaborated with the regulator and other ecosystem participants who coordinated the innovation in design of the ecosystem. The software firm went on to expand the market for its own products (trading software) by incubating exchange ventures. This was achieved through a strategy of spawning of linked subsidiaries that led to both a growth of the trading ecosystem and further entrenchment of the innovated ecosystem.
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