The Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub.
According to the Global Innovation Index (GII) 2017 released recently, Shenzhen-Hong Kong Cluster ranks second in global innovation clusters in terms of patent filings.
It is the first time to see a special section – World’s Largest Clusters of Inventive Activity in the report. It presents an empirical approach to identify and rank those innovation clusters on the basis of patent filings.
On the list Tokyo-Yokohama ranked 1st, with 94,079 patent filings, Shenzhen-Hong Kong came 2nd with 41,218. San Jose-San Francisco Cluster or the Silicon Valley ranked 3rd with 34,324.
The top 10 clusters in the ranking of World’s Largest Clusters of Inventive Activity.
Above all, innovation giant companies like Huawei, ZTE and Tencent play key roles in the rise ranking of Shenzhen-Hong Kong innovation cluster. As for the amount of patents published under the Patent Cooperation Treaty (PCT) System, ZTE and Huawei are the two largest patent applicants as companies with 4123 and 3692 published applications in the world in 2016, mainly about digital communication.
Compared with Silicon Valley, the Shenzhen-Hong Kong Innovation Cluster have at least four remarkable strengths to boost innovation, including a powerful industrial base in Pearl River Delta; a strong product trading system; a relatively low cost of innovation and a developed capital market, said Qu Jian, the Vice Director of China Development Institute.
Headquartered in Shenzhen, DJI benefits from the interaction on innovation between Shenzhen and Hong Kong. Graduated from Hong Kong University of Science and Technology, DJI’s founder Wang Tao chose to start up the drone company in Shenzhen. Currently, DJI claims to account for 70 percent of the global consumer drone market.
Back grounder: about the Global Innovation Index
The Global Innovation Index 2017 (GII), in its 10th edition this year, is co-published by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO, a specialized agency of the United Nations).
Published annually since 2007, the GII is now a leading benchmarking tool for business executives, policy makers and others seeking insight into the state of innovation around the world. Policymakers, business leaders and other stakeholders use the GII to evaluate progress on a continual basis.
The core of the GII Report consists of a ranking of world economies’ innovation capabilities and results. Recognizing the key role of innovation as a driver of economic growth and prosperity, and the need for a broad horizontal vision of innovation applicable to developed and emerging economies, the GII includes indicators that go beyond the traditional measures of innovation such as the level of research and development.
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