How Asian Telcos Are Leading Global Innovation Investment
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The report shows that research and development (R&D) and other investments that drive worldwide innovative activity continued to boom in 2021 despite the COVID-19 pandemic, but challenges are emerging in translating innovation investments into impact.
The GII finds that productivity growth - normally spurred by increased innovation - has in fact stagnated. It also finds that current technological progress and adoption show signs of slowing growth despite the recent flourishing of R&D expenditure and venture capital investments. However, with more careful and attentive nurturing of innovation ecosystems, a new era of innovation-driven growth led by Digital Age and Deep Science innovation waves could take off.
Canada is back among the top 15 global innovators (15th). Türkiye (37th) and India (40th) enter the top 40 for the first time. Beyond these, Viet Nam (48), the Islamic Republic of Iran (53rd) and the Philippines (59th) are the middle-income economies with the fastest innovation performance growth to-date.
The United States scores best in the world on 15 of the 81 GII 2022 innovation indicators, including global corporate R&D investors, venture capital investors, the quality of its universities, the quality and impact of its scientific publications, and the value of corporate Intangible asset intensity. Canada scores best in venture capital recipients, joint ventures and strategic alliance deals and computer software spending.
Germany reaches its highest ranking since 2009 after having entered the top 10 in 2016, leading globally on global corporate R&D investors. Estonia makes notable progress this year, breaching the top 20, and scoring a global leading performance for indicators venture capital deals, ICT services imports, new business creation and mobile app creation.
Eight out of the 18 economies covered within the region rose in the rankings. Colombia (63), Peru (65), Argentina (69) and the Dominican Republic (90) all saw substantial rank increases this year. Peru is notable as it positions itself as a global leader this year in indicators such as availability of loans from microfinance institutions, graduates in science and engineering and utility models filings. Peru, Brazil and Jamaica (76) also performed on innovation above expectation for their level of development.
With more open-mindedness and diversity in place, South Korea will be able to evolve into a leading innovation hub globally, poised to deliver the next world leading startups and achieve the next Miracle on the Han River.
Perhaps more unexpectedly, innovation spending in the U.S. has held relatively steady as a share of global innovation spending, despite increases in the amount of R&D that U.S. firms conduct in Asia. This is due in part to companies from other countries increasing their R&D activity in the United States; Silicon Valley, in particular, has been a powerful draw. Innovation spending in Europe, in contrast, grew more modestly and unevenly, with some countries, such as France and the U.K., showing net decreases in domestic R&D spending from 2007 to 2015. More European companies are choosing to expand their R&D operations elsewhere, in both low-cost countries in Asia (defined as countries where the average annual engineering salary is less than US$35,000) and high-cost countries such as the United States.
To describe location and flows of innovation spending, we use the terms in-country (or in-region) spending, exports, and imports as a convenient shorthand. A multinational that spends a third of its R&D budget outside its headquarters country is thus considered to be exporting 33 percent of its R&D spending. The disadvantage of using this terminology is that the concepts of importing and exporting are antithetical to the concept of a multinational corporation, which by definition conducts business globally rather than nationally. It can also be potentially misleading, in that mergers and acquisitions can alter the export and import numbers even though the location of past innovation activity does not change.
Still, this type of analysis provides an accurate gauge of where innovation activity is being conducted around the world, and how corporate management makes R&D investment decisions. It also provides a way to chart the relative gains and losses across countries and regions.
The good news is that leading innovators are finding ways to manage these and other complexities. To ensure the long-term success of a globally dispersed R&D footprint, company leaders should focus on the following imperatives:
As part of our 2015 survey, we asked respondents from all three types of companies about the challenges they face in implementing global innovation models. Most reported similar concerns, with a few key differences: Intellectual property protection and quality control were paramount for Need Seekers, whereas finding and retaining top talent was of greatest concern for Market Readers and Technology Drivers.
As companies further develop and optimize their global innovation networks, they will continue to tap into more diverse global talent pools, a wider knowledge base, and deeper insights into growing markets. With the right implementation, the globalization of R&D will benefit the search for breakthrough innovations, and enable companies to make bigger-bet portfolio choices than they have in the past.
At the EU level, leaders have long complained about Chinese subsidies that distort the global economy, as well as restricted market access for European firms and the lack of protection for their intellectual property. The EU has filed complaints against China at the WTO and imposed anti-dumping measures on many products. Many of these issues are regularly aired during EU-China summits, the most recent of which, in July 2018, saw China promise improved market access and further talks for a comprehensive investment agreement.
Emerging markets such as China and India have become the growth drivers of corporate R&D initiatives from all around the world.1 Although there is growing evidence that Chinese companies are shifting their innovation focus from cost savings to knowledge-based research, the view by many in the West remains that companies based in emerging markets are not ready to take over the role of leading innovators from their Western competitors.2 As a result, Chinese multinationals have been at a competitive disadvantage, particularly in strategic technology industries.
To achieve its position, Huawei has aggressively pursued a strategy of joint innovation with leading European customers and governments. In this article, I will discuss how Huawei worked closely with European customers to develop joint innovation capabilities. In the process, the company was able to emerge as a leader in telecommunications in Europe.
By investing in global health, Seattle foundations and non-profits are also changing the Puget Sound region. They are infusing the region's innovation ecosystem with a wealth of global health care companies and research institutes, and they have helped build capacity and expertise at the University of Washington. Read more from The New York Times...
The alliance is also committed to global open calls to attract companies that are aligned with its strategic innovation priorities. In this context, they are taking the opportunity to announce a global call for start-ups, which opens today. Interested companies can participate via this link. Alaian will be looking for start-ups with 5G-based use cases in communications and infrastructure, industry, manufacturing and logistics, mobility, utilities and energy, metaverse and web3, media, entertainment and gaming and retail.
NelsonHall, a leading global IT services analyst firm, has recognised Tata Communications as a leader in Cyber Resiliency services in its 2022 NEAT report. With integrated end-to-end cyber security services and advanced threat management capabilities, Tata Communications has been positioned as a leader in managed cyber security services, and incident response & backup services, rated highly among peers for ability to deliver immediate value to customers.
Carrier Community, an exclusive global industry-networking platform for wholesale telecom service providers, hosted its 5th Annual CC Global Awards ceremony in Berlin in September 2021. For the second consecutive year in a row, Tata Communications won the award in the customer experience excellence category among the final shortlists in the six categories. The awards recognised innovations and achievements among telecom wholesale operators and ecosystem partners around the globe and were independently judged by a panel of 9 telecoms analysts and experts from the industry.
Carrier Community, an exclusive global industry-networking platform for wholesale telecom service providers hosted its 4th Annual CC Global Awards ceremony in Berlin in Aug 2020. The awards recognised innovations and achievements among telecom wholesale operators and ecosystem partners around the globe and were independently judged by a panel of 13 telecoms analysts and experts from the industry.
The Lab is the newest addition to the global EY network of innovation centers designed to cultivate leading-edge technological incubation and research and development in key technology markets throughout the world. In synergy with EY innovation platforms and products, the EY APAC Tech Lab was created with the vision of addressing clients' diverse needs in today's complex geopolitical landscape.
"I am thrilled about the immense potential that the APAC Tech Lab brings to EY teams' ability to leverage the strategic value of this diverse technological frontier with promising avenues for innovation. This Lab will bolster the global tech profile of the EY organization so it can compete in today's complex market landscape. Continuing to introduce emerging technologies and build robust innovation pipelines as a digital-first and future-forward organization will help address clients' most pressing challenges." 2b1af7f3a8