Possibility of Innovation In a (not The) Valley
Thomas L. Friedman wrote in the Herald Tribune a few years ago a column that acknowledged, and probably injected a lot of self confidence to innovators outside of the usual suspect American hightech hubs. Written from an angle of criticism towards the American high school system, I found his text much more useful read upside down - thinking about how the more remote areas previously known for their cheap labour and mass quantity low tech production are winning share on the global innovation arena. "In a flat world people can now innovate without having to emigrate," as Friedman put it in rhyme.
Now in one of the recent issues of FastCompany, Richard Florida took a look back and found that the innovation world has not gone flat afterall. Highly recommended read as a whole, but I picked out a few interesting facts for myself:
- Of the roughly 170,000 patents granted in 2003 in the United States--which gets applications for nearly all major inventions worldwide--nearly 80% went to Americans, Japanese, and Germans. The next 10 most innovative countries--the usual suspects in Europe, plus Taiwan, South Korea, Israel, and Canada--produced another 15%. The rest of the world accounted for only 5%, with India and China responsible for just 0.4%.
- Indian and Chinese entrepreneurs founded or cofounded roughly 30% of all Silicon Valley startups in the late 1990s, generating $20 billion in annual revenue and about 70,000 jobs.
- There are about 150 million (!) people in highly mobile, global creative class who migrate freely among the world's leading cities--places such as London, New York, Paris, Tokyo, Hong Kong, Singapore, Chicago, Los Angeles, and San Francisco
What Friedman originally called for as producing a comprehensive U.S. response - encompassing immigration, intellectual property law and educational policy - is more valid than ever in this situation... but maybe even more so for the "receding valleys between spikes" as described by Florida. Umm... like Estonia?
