Mckinsey in partnership with the World Economic Forum has created an “Innovation Heat Map” by identifying factors that are common to successful innovation.
Not surprisingly, the Silicon Valley comes as a clear leader. And numerous countries like Singapore have tried to emulate the Valley. Bangalore, often called the Silicon Valley of the East and it is not even represented in the Innovation heat map.
I am equally surprised that none of the countries in Asia — barring Japan and Taiwan appear on the Innovation heatmap. I would have expected Seoul, Bangalore and maybe even Shanghai to appear on the map.
This map seems to contradict another report released by the Information Technology and Innovation Foundation which found that the U.S. was ranked sixth based on their indicators.
Singapore has been spending billions of dollars (all tax payers money) to spur innovation. And I belong to the skeptics community often wondering whether this is the right approach. Surprisingly Singapore doesn’t seem to be anywhere in the Mckinsey’s Heat map.
I have always been skeptical about these rankings because there is always a risk of causality often being mistaken for co-relationships.
And on a more operational note, with global collaboration and work being distributed to talent spots, how is it possible to identify the exact nature of contribution from each location.
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