Appropriate Innovation for Asian Emerging Markets in a Digital World: A Strategic Framework
DOI:
https://doi.org/10.18096/TMP.2022.01.01Keywords:
Appropriate innovation, Asian emerging economies (ASEAN, China, India), additive manufacturing (3D printing), export strategy, business-social enterprise partnership, government-business collaborationAbstract
Growth in spending in Asian emerging economies will be driven to a large extent by lower-middle income and lower-income households. They constitute a vast “2nd tier” underserved market, much of it located in smaller cities, towns, and rural areas. This study develops a framework for appropriate innovation strategy aimed at this substantial market. We identify key relevant characteristics of the leading Asian emerging economies of ASEAN, China and India; that often do not get sufficient attention. The proposed strategic framework then builds on selected examples of appropriate innovation; incorporates the potentially important role of unconventional partnership between business and social enterprise for this market; and develops the supporting role of digital technology, in particular, additive manufacturing (3D printing). We conclude by presenting policy implications of an appropriate innovation strategy, involving government-business collaboration.
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