As a prerequisite to economic growth and development, the World Bank Group identifies innovation as the system that creates new products and devises new uses for existing ones. Delivering innovation in a developing economy is a complex undertaking, requiring a systematic approach that is both smart and scalable. Innovation initiatives succeed when governments are able..

Ten years ago, the 5 largest publicly traded companies in the world included 2 oil firms and one tech firm. Today, all 5 are tech firms with a combined worth of $3.9 trillion. Of the 20 most valuable firms in the world this year, the combined market cap of the tech firms is 2.5 times..