Historically, Asia-Pacific has played second fiddle to the West when it comes to innovation. Major innovation hubs such as Silicon Valley continue to dominate as the aspirational model for driving innovation. However, the pendulum has started to swing East as venture capital money pours into the region at a rapid pace. As billions of dollars of investment brings the budding start-up ecosystem of the region into the limelight, it’s only on part of the larger picture. Home to some of the world’s most innovative corporations and leading research institutions, this increase in venture capital investment makes a strong case for Asia-Pacific to take the lead in global innovation. To better understand and pinpoint how the region can achieve this goal, Lux Research surveyed over 100 executives across Asia responsible for driving innovation strategies in their organizations. Asia-Pacific enterprises clearly make innovation part of their corporate development and growth plans – over 95% of respondents stated that their organization’s strategy is dependent on innovation. In this report, we highlight five major takeaways and calls to action that will elevate Asia-Pacific’s innovation prominence to the top of the international stage.
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