The Rise of the Rest: Hotbeds of Innovation in Emerging Markets

Conventional wisdom has long held that innovation is the strength of the West and that what gets developed in the West is modified and transferred to "the Rest." But the reality of recent years does not support this assumption. As creative ideas for meeting basic needs are translated into...

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Bibliographic Details
Published in:Research technology management 2011-07, Vol.54 (4), p.24-29
Main Authors: Petrick, Irene J., Juntiwasarakij, Suwan
Format: Article
Language:English
Subjects:
Banking
Cellular telephones
Consumers
Desalination
Design
Emerging markets
Ethanol
Expenditures
Innovations
International
International comparisons
Medical equipment
Microfinance
Mobile commerce
Natural resources
Portable computers
R&D
Research & development
Social networks
SPECIAL ISSUE: INNOVATION IN EMERGING MARKETS
Technological change
Text messaging
Water conservation
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Summary:Conventional wisdom has long held that innovation is the strength of the West and that what gets developed in the West is modified and transferred to "the Rest." But the reality of recent years does not support this assumption. As creative ideas for meeting basic needs are translated into compelling innovations, emerging markets are becoming hotbeds of innovation in areas ranging from healthcare to water to transportation. And innovation activities in emerging markets are having profound impacts on the West; indeed, products created in and for emerging markets are now finding eager buyers in developed nations. This reversal of the traditional flow of innovation is both reshaping consumer demands and forcing Western companies to rethink their ideas about innovation and how it happens. This article highlights some recent developments in emerging markets and provides some insight into how the innovation model driving these emerging markets differs from the model invoked by their Western counterparts.
ISSN:0895-6308
1930-0166
DOI:10.5437/08956308X5404009