by Nick Ismail, Information Age (Excerpt)
The UK is a growing hub of innovation despite Europe being overtaken by Asia as the destination for innovation centre investment
In a report commissioned by Capgemini, in partnership with Fahrenheit 212 and Altimeter Group’s Brian Solis it has been revealed that Asia has built and operated more innovation centres than Europe for the first time and is now on course to challenge the US.Asia’s emergence as a leading hotbed of innovation is underscored by its position as a world leader in patent applications, a key indicator of technological and scientific breakthroughs. The region now accounts for over half (56%) of the world’s total patent grants. During the last decade (2005-15), Europe’s share of global patent grants has fallen from 24% to 13%.“Innovation centres are corporate attempts at thwarting digital disruption. And companies seeking to manoeuvre disruption usually become the disruptors in their space. With Asia’s dominance in this edition of our research, it’s clear that innovation is becoming globally democratised. Furthermore, by tracking associated technology trends, the focus on AI suggests that the future of corporate innovation will realise new business models, products and processes emanating out of Asia with global effects” said Brian Solis, co-author and principal analyst at Altimeter, a prophet company.
‘The UK Government is playing a key role through start-up loans, tax relief and exceptional talent visas. These initiatives are helping to boost innovation across the UK and helping the country to not just maintain, but increase, its position within Europe as countries like France and Germany decline’
However, despite this overtake London remains in second place for cities with the most innovation centres in the world. […]