“Innovation is the fuel of economic growth, and the Holy Grail for companies and countries around the globe
“What makes a company innovative? An individual? A country? Why is Silicon Valley still such an exceptional—and singular—example of self-propelled creativity? And what will happen when India and China finally learn to mix the magic sauce of innovation in bulk?
“Innovation isn’t just at the center of human creativity and corporate profit. It’s fuel for economic growth and one reason hundreds of millions of people in developing countries have leapt up the income curve over the past two decades. Governments, especially authoritarian ones, understand that without it, growth may slow, jobs may get scarce and instability may rise.
“‘There are already areas of entrepreneurial ferment across Asia,’ Tarun Khanna of the Harvard Business School told a group of entrepreneurs, CEOs and industry executives at The Wall Street Journal’s conference on Unleashing Innovation in Singapore last week. The key question, Mr. Khanna counseled the delegates from 25 countries, ‘is how do we take these little sparks and scale them up in some way that’s meaningful.'”