The United States Silicon Valley isn’t the only place where burgeoning innovation is challenging. Yes, the U.S. leads. The Fast Company story below is indicative of what is happening in the four countries below. By the way, a municipality can replicate the same process.
South Koreans are so innovative, they don’t even use credit or debit cards. Instead, residents use T-money, which can be spent on trains, taxis, buses, bars, restaurants, or retail stores.
Like Estonia, South Korea has one of the fastest broadband speeds among all. As most of the world continues to struggle with 4G connection, South Korea is investing in 5G, meaning its residents will be able to download HD movies without any problems by 2020. The country’s Ministry of Education, Science and Technology (MEST) announced it is investing $1.5 billion in this project alone.
The South Korean government promotes its startup economy by pouring $2.7 billion in funding startups and offering tax breaks for big companies that invest in startups.
Israel’s entrepreneurship spirit comes from the fact that the country itself is a startup. With little natural resources and constant political turmoil, Israelis are fighting for better lives by creating energy alternatives. As a result, we’ve seen some amazing companies come out of Israel.
The country boasts more startups per capita than any other country and currently has 70 companies listed on the Nasdaq, making it third only to the U.S. and China on the stock exchange. Not bad for a population of 8.2 million. […]
Read full article via Fast Company | Business + Innovation.
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