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Survey shows China and US leading in innovation

Posted: 05 Jul 2012 ?? ?Print Version ?Bookmark and Share

Keywords:innovation survey? China? Silicon Valley? global hotspot?

According to a survey conducted by KPMG, China and the United States are the two countries most likely to come up with "disruptive technology breakthroughs" with a global impact in the next two to four years.

Nearly one 30 percent of the respondents believed that China will be a future "global hotspot for innovation," followed by the United States with 29 percent, India with 13 percent, Japan with 8 percent and Korea with 5 percent. The United Kingdom ranks 11th and was named by just 1 percent of respondents.

With the results of the survey, it would that technology executives seem that the center of gravity for innovations in technology is moving east. Tudor Aw, sector head for KPMG, stated that China has mostly been known for its disruptive cost model rather than its disruptive technologies but things are beginning to change.

The survey also noted that 43 percent of respondents stated that it is possible that the technology innovation center of the world will move from Silicon Valley to another country in the next four years. Respondents to the survey also believed that China as the country most likely to be the next innovation center with 45 percent, followed by 21 percent from India and Japan tied with Korea on 9 percent each.

The survey was conducted with 668 technology business executives between March 2012 and May 2012 with 34 percent of the respondents based in the Americas, 42 percent in Asia Pacific, and 23 percent in Europe, Middle East and Africa.

The survey revealed that the technology sector that would have the biggest business impact in four years' time was likely to be mobile devices, with by 28 percent of respondents predicting it. Some 17 percent referenced cloud-based technologies while 13 percent selected advanced IT and 3-D technology.

Questions regarding barriers to commercializing these technologies were also included in the survey. Respondents believed security and privacy governance, funding and access to capital and technology complexity as primary issues in the commercialization of technologies.

Another snippet from the survey was that the respondents considered the top approach to motivating innovation amongst employees was to provide financial incentives.

- Peter Clarke
??EETimes US

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