The word innovation almost instinctively conjures an association with Silicon Valley. However, it is technologies developed in the West in particular that supply pioneers in developing markets with the necessary tools to create their own innovative products and business models by copying established concepts. A car for 3000 USD, a notebook for 200 USD and a smartphone for 30 USD. The mixture of a cheaply available workforce and ever more well-educated academics is creating innovative products that, thanks to cost leadership, become globally competitive. In addition, developing markets often are suitable for testing and establishing new technologies. Mobile Payments have become established in Africa, not Europe.
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You can find worldwide best practice examples on this macro-trend in our online tool, the Trendexplorer:
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