Ideas Economy: (Brazil) Innovation will focus on the future of innovation and entrepreneurship in the BRICs and around the world. Over the last decade, emerging economies have become fertile sources for creativity and disruptive business models and the innovation revolution is alive both among start-ups and among the 21,500 multinationals currently located in emerging economies. A new report from INSEAD and the OECD Development Centre argues that by developing new business models, “in several revealing cases, Latin American businesses are redefining global business”. While this is encouraging news, Latin America still faces a poor history of productivity growth, mostly due to a large informal economy, heavy regulation and poor urban planning. The region is also uncomfortably dependent on commodities. Latin American firms invest only 0.5% of gross revenues in research and development. Venture capital and private equity investments represent under 2% of the global total.
However, important governmental and private-sector initiatives in Brazil and throughout Latin America are sprouting up, creating fresh opportunities to incubate the next generation of innovators and entrepreneurs. This has the potential to not only benefit the region’s economic development but also to create new markets and expand global commerce. Ideas Economy: Innovation will fully investigate the systems and structures needed to fuel innovation and entrepreneurship in the years to come, while uncovering new insights into what this means for future economic and social progress in Brazil, Latin America and the rest of the world.
No Comment! Be the first one.