State of Innovation in Asia: Key Industries and Players Shaping Asia’s Innovation Ecosystem

Asia has driven a boom in innovation in recent years in terms of R&D spending, venture capital funding, academic publications, and patents. However, it is difficult to bucket the entire region’s ecosystem into one category, as the population, economic status, and innovation strategy vary greatly. Our unique methodology analyzes seven key industries to determine the Innovation Force and finds that China and South Korea emerge as innovation powerhouses as Japan solidifies itself as an innovation conservative. Singapore, Hong Kong, and Taiwan have carved out their niche roles as innovation specialists, while Indonesia, Malaysia, and Thailand are innovation generalists embarking on the next phase of their innovation journey. India has yet to differentiate itself as it struggles to keep pace with its regional peers.