Asia: The epicentre of innovation

A study by Lux Research claims that China, Japan and South Korea spent USD 613 billion on research and development in 2018; with this combined budget these countries finished 2nd, 3rd and 4th in the world ranking, behind the USA. The private sector financed 78 percent of this sum. China was the country where venture capital investment was the biggest: 1,900 deals were concluded and the average deal value was USD 45 million.

As for academic publications, the No.1 was China with 48 percent of the total number of publications. In the last decade China was the country with the most patents registered: in 2018 1.6 million patent applications were submitted – this was the result of a 24-percent annual growth. Research and development, venture capital investments, publications and patents: the big question is always the same, ‘How will these activities shape the region’s innovation ecosystem in the years to come?’

China. In the last few years the country strengthened its innovation efforts very much. The ‘Made in China 2025’ innovation strategy was published in 2015 and contains China’s innovation plans in different fields. Japan. The country’s Society 5.0 programme sets the directions for Japan’s innovation strategy. It seeks to make robotics and cutting-edge technology part of everyday life. Singapore. One of the most innovative countries in the world, thanks to the government’s initiatives and organisations. India. It is one of the most populous countries in the world, but India really underperforms in the domain of innovation.

Asia is the continent where two thirds of the Earth’s population lives, there are 31 megacities on this continent and one third of the world’s biggest companies can be found here – Asia has become the world’s epicentre. The rise of Asia creates innumerable opportunities for everyone, on a global scale. //