In the last few decades, China has made huge progress in science and technology. This new age of innovation has seen the birth of ‘unicorn’ tech companies like media giant Tencent, the ‘Uber of China’ Didi Chuxing, and the world’s biggest drone builder, DJI.
Today, the internet connects millions of entrepreneurs with billions of buyers. But the hidden stories that might be even more important in the long run are the countless micro-businesses that could survive and thrive in the technology-enabled global market.
Europe now has 40 Unicorns, compared to 30 this time last year. This is put into context against the long term average of three Unicorns per year. The average valuation of these tech companies is now $3 billion.
via GP Bullhound
The U.S. has undergone a profound shift in how it develops, adopts and capitalizes on innovation. Today, our highly optimized, venture-capital-driven innovation system is simply not structured to support complex, slower-growing concepts that could end up being hugely significant.
Monopolies in the telecom industry can push up the cost of internet access by stifling competition. In its funding of undersea internet backbone cable around Africa, the World Bank Group has insisted on multiple interconnections to facilitate competition.
via The Trade Post
Equity financing for European venture-backed companies reached €7.9 billion ($8.9 billion) last year, that’s up from €6.3 billion in 2013 – the biggest amount invested since 2001 when companies secured €10.6 billion, according to data provider Dow Jones VentureSource.
Innovation isn’t easy. It takes courage to experiment and advance a new idea. Europe has always excelled at this. Radio, television, and mobile communications advances all originated in Europe. But past success won’t ensure Europe’s long tradition of innovation continues. New technologies require more risk-taking and the ability to launch new products with speed and scale.