Possibility of Innovation In a (not The) ValleyPosted: 28/04/2008 | Author: sten | Filed under: In English | Tags: asia, estonia, innovation, media, stats, US | Leave a comment »
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?