By the early 2020s, rivalry for industrial innovation will accelerate between the U.S. and China. Ironically, the Trump White House has opted for a poor-economy industrial policy, whereas China has a rich-economy policy. The former seeks past glory; the latter cannot wait to get to the future.
NASA has selected 133 proposals from U.S. companies to conduct research and develop technologies that will enable NASA's future missions into deep space and benefit the U.S. economy. The proposals, valued at approximately $100 million total for contract negotiations, were selected under Phase II of NASA's Small Business Innovation Research (SBIR) program.
Tesla CEO Elon Musk is the most innovative tech leader in the world, with Apple head Tim Cook earning the top score among U.S.-based respondents, according to a recent survey of 800 executives around the world. Global tech industry leaders identified Musk as the most innovative leader of a tech company in the new report out from audit firm KPMG.
Innovation Leaders has released its annual report detailing companies across 25 different sectors worldwide that accomplish the most from innovative activities. This year, Innovation Leaders highlighted three trends in its analysis: US dominance, partnerships and collaboration, and the impact of big bets and bold moves to deliver tangible, sustained growth.
SpaceX recently announced that two private citizens have paid money to be sent around the Moon in what would mark the farthest humans have ever traveled to deep space since the 1970s. In a sector where entrepreneurs often speak of "moonshots," Musk is one of the biggest dreamers.
The competitiveness of the U.S. economy depends on technological progress, but recent data suggests that innovation is getting harder and the pace of growth is slowing down. A major challenge in business and policy spheres is to understand the environments that are most conducive to innovation. One way to do that is to look to history.
As tech innovations unfold, China is stacking up to the United States as a leading force. Global tech industry leaders indicated, in KPMG’s tech innovation survey, the United States and China are the world’s dominant tech epicenters with the greatest potential to develop disruptive technology breakthroughs that will have a global impact. The strong showing for these two mega-powers is relatively consistent with earlier KPMG surveys, although this year’s poll reflects a slight uptick for China—25 percent compared with 23 percent the prior year.
Though other countries have made significant strides in innovation development, the U.S. and China continue as the most promising markets for technology breakthroughs that have global impact, according to KPMG's 2017 global technology innovation report. Given their country ranking, it's not surprising that cities in the U.S. and China are expected to make up six of the Top 10 innovation hubs, outside of Silicon Valley/San Francisco, over the next four years.
Innovation is taking place at the local level. Across the U.S., cities are striving to become “Smart Cities,” which in its simplest form means applying information and communications technologies to urban challenges. While it is easy to get excited about the shiny objects that are permeating the Smart City conversation - such as driverless cars - it is also important to understand underlying and enabling technologies like 5G and the Internet of Things (IoT). They play an important role in creating cities of the future.
President Donald Trump promised to do many things during his presidential campaign, and since taking office, he has begun setting those plans into action. One of the things he did not really address during his campaign, however, is how he is going to reform and change the current US Patent system.