International Innovation Summit 2019 urges Asian governments and corporates to prioritize innovation to combat global uncertainty

Governments across Asia are urged to prioritize innovation and indigenous technology to counter disruption globally led by shifting technology and market forces.

At the opening of the International Innovation Summit 2019, organizing chairman and former minister of human resources of Malaysia, Dr. Fong Chan Onn said that the Asian economy need to reduce its reliance on foreign technology and develop its own in order to insulate its economies against global events such as the on-going US-China trade spat.

Welcome Address by Tan Sri Dr. Fong Chan Onn, Chairman of Enterprise Asia

Following two successful editions in Shanghai and Macau, the International Innovation Summit, organized by Enterprise Asia, is held in Singapore and supported by the Singapore government this year. Themed “Innovation Trailblazers: Creating for Disruption”, the summit convened over 400 innovation experts, industry leaders and policy makers over three days.

This year’s keynote speakers include Koert Breebaart, vice president of SAP Asia, Ken Ding, head of product innovation of Samsung Electronics, Yat Siu, founder and CEO of Outblaze and Animoca Brands, Ajay Mohan of Intel Corporation and Jing Jang of Haier Group Corporation.

Yat Siu, Founder & CEO of Outblaza and Co-founder & Chairman of Animoca Brands, sharing about “Investing in Blockchain: Turning Virtual Goods into New Assets”

According to Fong, “leading disruptive innovation requires new mindsets and behaviours, for leaders themselves and for the organizations that develop them. In today’s turbulent environment, leading disruptive innovation is as much about best principles as it is about best practices, and requires a disruptive approach to management itself”.

“Companies wedded to the old business model lose ground, and some are pushed out of business. Challengers that embrace innovation gain advantage and will take a dominant position in the market. The goal of this year’s International Innovation Summit is not only to discuss what to expect from the future of disruption in innovation, but also in defining the innovation culture that we must adopt for our organizations to compete in this revolution.”

“More importantly, governments must urgently work with the private sector to define the innovation agenda for their respective economy, and to work with other countries for a regional framework to advance the culture of innovation in each country”, Fong said.

More than 400 International Delegates gathered at the summit

The International Innovation Summit 2019 is supported by Singapore Tourism Board through Singapore Exhibition & Convention Bureau, British Chamber of Commerce Singapore, Central and Eastern European Chamber of Commerce (Singapore), The Coordinating Secretariat for Science, Technology and Innovation (COSTI) under the Ministry of Science, Technology and Research, Sri Lanka, Malaysian Investment Development Authority (MIDA), Ministry of Energy, Science, Technology, Environment & Climate Change (MESTECC), Malaysia, Malaysian Global Innovation & Creativity Centre (MaGIC), National Institute of Entrepreneurship and Innovation (NIEI), Royal of Cambodia, Singapore Malay Chamber of Commerce & Industry (SMCCI) and Singapore-Thai Chamber of Commerce; Singapore Airlines as official airlines; Resorts World Sentosa as official venue partner; PR Newswire as news release distribution partner; and BusinessWorld, Commercial Times, Kumparan, SME Magazine, Techsauce, The Nation and Tuoi Tre News as official media partners.

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