Frost & Sullivan: Innovate or Risk Being Left Behind

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Mr. Manoj Menon, Senior Partner & Asia Pacific Managing Director at Frost & Sullivan said that Taiwan is an important market for the company. "We would like to help Taiwan companies grow and build some exciting opportunities in the next decade," he added.

Mr. Menon also said that companies need to embrace and continue to be innovative or risk being left behind. He shared with the audience on the "Innovate to Zero" Mega Vision of a zero concept world with zero emissions, zero accidents, zero fatalities, zero defects and zero breaches of security.

He urged Taiwan's companies to shift focus and develop products and technologies that innovate to zero, including zero-emission technologies such as wind power, traveling wave reactors, solar photovoltaic and 3^rd generation bio-fuels.

"Many years ago, traditional businesses would brush off start-ups and say that they don't impact them at all. However, in the last couple of years, there had been absolute paranoia about the future for many companies unaware of new technologies and how it will affect their business," he noted.

Mr. Menon also said that there are some great companies that are growing very rapidly, having global impact, and at the same time energizing a lot of people around the world to help them with new ideas and new businesses.

"However, at the same time, we also have large and existing businesses that are struggling to deal with this change. There will also be some companies who will seize this opportunity to try and understand the changes happening and ask how to reinvent themselves," he added.

Mr. Menon also said that investors and consumers are willing to pay for innovation and gave the example of the Tesla Model 3, which saw reservations of 300,000 units in just 3 days. "Customers are willing to put in US$1,000 deposit for a car that is not even in production yet. That is innovation that people are willing to pay for," he said.

Other speakers at the conference include Mr. Stephen Su, General Director of ITRI's Industrial Economics and Knowledge Center (IEK), and Dr. Gerard Kho, Chief Marketing Officer at Medini Malaysia, who shared their views on smart cities.

The conference was well attended by various C-level executives from CITIC Telecom International CPC Ltd, Fareastone, Kymco, Gogoro, MiTAC, Compal Computer, Acer, VIA Technologies, Microlife Corp, Tatung Group, Fubon Land, Cathay Life Insurance, Delta Electronics, Advantech Co, Nexcom and BenQ Medical Technology.

The conference concluded with the Frost & Sullivan Taiwan Excellence Awards luncheon, recognizing Taiwanese companies that have demonstrated excellent achievements and superior performance in areas such as leadership, technological innovation and strategic product and service development.

Frost & Sullivan congratulates all the 2016 Frost & Sullivan Taiwan Excellence Awards recipients:

About Frost & Sullivan

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For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Alice Chia
Corporate Communications – Asia Pacific
Email: [email protected]

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