Innovation has spread far beyond its traditional boundaries of the United States , Europe, and Japan as cheap technology allows more countries to compete in the global marketplace.
But great new ideas, no matter how groundbreaking or potentially valuable, are only the first link in a chain that includes government and corporate allies in an economy that supports risk.
“Innovation is an important prerequisite for national economic success,” says Soumitra Dutta, a professor of business and technology at INSEAD , a multinational business school with campuses in France, Singapore, and Abu Dhabi.
It’s gone global for two reasons, adds Dutta, “The rise of emerging markets with populations moving out of poverty and asking for new products and services,” while the spread of technology has enabled less-developed economies to innovate.
“There are no nations that dominate innovation at the global level,” says Drew Marshall, a New Jersey-based consultant and co-host of Innochat , a weekly innovation-focused chat on Twitter. “There are now many countries that see innovation as a path to economic advancement."Page 1 of 7 | Next Page