Vary Yong’s Post

The top 15 Global innovators, 2020–2024. The latest ranking of global innovators for 2024 has been published. I will dedicate several posts to this topic. What trends do we see: 1) The top three has not changed in 5 years. Here we see the same leaders: Switzerland, Sweden, the USA. The top 3 economies share the characteristics of both excelling across all GII pillars and successfully balancing their innovation inputs and outputs. 2) Separately, we note that South Korea has improved its position in this rating. South Korea moves up to 6th position and ranks in the top 3 worldwide in key indicators including Researchers (2nd), R&D expenditures (2nd), R&D performed by business (1st) and Production and export complexity (3rd). The country was 10th position in the GII ranking 5 years ago.  The similar story with China. China takes the 11th position in the GII ranking in 2024. PRC was 14th position in this Rating 5 years ago. It maintains its 1st position among the upper middle-income group and 3rd position among economies in South East Asia, East Asia and Oceania, behind Singapore and the Republic of Korea. China is also the third economy with the greatest number of indicators ranked 1st, two more than in 2023, behind Singapore and the United States. It ranks in the top 3 globally in indicators such as High-tech exports (1st), Global corporate R&D investors (2nd), Labor productivity growth (2nd) and GERD financed by business (3rd). And finally, Singapore pleased everyone. Singapore (4th) moves further into the top 5 and is the economy with the greatest number of GII indicators ranking 1st in the world for the first time (with 14 out of 78 indicators), overtaking the United States.   Singapore has already surpassed Switzerland, Sweden and the United States in terms of innovation inputs. 3) As Africa’s innovation landscape continues to grow, Nigeria, Kenya, South Africa, and Egypt consistently rise to the top. These four nations also dominate Africa’s startup scene, collectively attracting a staggering 84% of all startup funding since 2019. According to reports shared by Africa the Big Deal on May 21, 2024, Nigeria alone accounts for 30% of this funding ($4.4B), followed by Kenya with 24% ($2.9B), South Africa 20% ($2.4B), and Egypt 19% ($2.3B). To be continued. https://lnkd.in/dhXXzAb2

Asean micro, small and medium enterprises (MSMEs) should benefit from the US$2 trillion (RM8.55 trillion) expected economic value generated from the Digital Economy Framework Agreement (DEFA) by 2030.

Today on #HorasisInsights: SMEs are the Beating Heart of all Economies 👉 Panel the upcoming #Horasis China Meeting, scheduled for 14th to 15th April 2024 in #BinhDuong, #Vietnam. By harnessing the power of technology, facilitating access to finance, and enhancing government support, SMEs can unleash their full potential, ushering in a new era of prosperity and advancement for all. 🔴 SMEs are the cornerstone of economies worldwide, embodying resilience, innovation and dynamism. They play a significant role in the global economy, accounting for about 90% of businesses and more than 50% of employment worldwide. In emerging economies, formal SMEs account for up to 40% of national income (GDP). 🔴 These figures escalate significantly when we consider informal SMEs. Projections according to the World Bank estimates that by 2030, the growing global workforce will necessitate the creation of 600 million jobs. This underscores the importance of SME development, making it a top agenda for governments worldwide. 🔴 Moreover, SMEs play a crucial role in fostering technological innovation, often serving as the breeding ground for disruptive technologies that propel economies forward. 🔴 China is leaving no stones unturned in fostering the growth of SMEs. China’s Ministry of Industry and Information Technology is working on a five-year plan aimed at bolstering the growth of SMEs. This strategy emphasizes several crucial objectives, such as promoting fair competition, expanding access to financing and boosting innovation capacity and professionalism. 🔴 Furthermore, China has set a goal to foster the development of 10,000 “little giant” companies. These are nascent small businesses that concentrate on cutting-edge sectors like next-generation information technology, advanced equipment manufacturing, renewable energy, novel materials and biomedicine. #Horasis #Inspiringourfuture https://lnkd.in/ebPUz8CZ

Our digital economy is not just boosting Singapore’s GDP, it’s creating exciting job opportunities too! We remain focused on equipping businesses and workers to leverage #AI and seize the opportunities in #tech. Read on to find out more. #SmartNationSG #DigitalEconomy #Growth

As we start engaging Founders, potential LPs, and other Funds this season questions always arise about Acacia's interest in Latin America. Take a look at this post from last week that introduces the LatAm landscape, the first in a series from Acacia. How do you view LatAm market potential?

New Post: Asia’s Economies Can Embrace Services to Boost Growth and Productivity - https://lnkd.in/e89PWc_m Economies Can Embrace Services to Boost Growth and Productivityhttps://lnkd.in/eFY2ZqJS Asia-Pacific region prospered by becoming the source of more than half of global factory output, but another transformation to higher-productivity services has the potential to further support growth. Tech The Asia-Pacific region prospered by becoming the source of more than half of global factory output, but another transformation to higher-productivity services has the potential to further support growth. Employment and production typically move from agriculture to manufacturing to services as part of the natural progression that comes with rising income. Today, many Asian countries—including China, Indonesia, Korea, and Thailand—are highly industrialised. If history is a guide, the industry’s share of production will shrink as more activity passes to services. Indeed, the growth of services has already drawn about half of the region’s workers into that sector, up from just 22 per cent in 1990, as hundreds of millions moved from farms and factories. This shift is likely to accelerate with further expansion of international trade in modern services such as finance, information, and communication technology, as well as business outsourcing (for example, as already done in India and the Philippines). By contrast, traditional services—for example, tourism or distribution services—have lower productivity and contribute less to economic growth. Policymakers should embrace this shift to modern services because they have higher productivity, as we show in an analytical note accompanying our October 2024 Asia-Pacific Regional Economic Outlook. Transitioning to a more services-led economy comes with greater economic growth opportunities, provided the right policies are in place. Productivity is an important variable when considering which sectors can best deliver growth in coming years. Manufacturing productivity in Asia is already close to the level of global leaders, so further improvement offers only limited scope to boost productivity and growth. By contrast, services in Asia don’t enjoy the same efficiency advantage, so the region’s economies have more to gain by catching up with countries that have the most efficient service sectors. In addition, in several service sectors like finance and business services, productivity is higher than in manufacturing, which means greater contributions to growth. For example, Asia’s labour productivity in financial services is four times higher than in manufacturing, and it’s twice as high in business services, our new analysis shows. Even so, countries need to have the right conditions in place to benefit from services. Manufac

💻 The digital economy is rapidly reshaping Thailand’s economic landscape, aiming to enhance efficiency and value across sectors like manufacturing, transportation, sales, and services. This transformation aligns with Thailand’s national strategy, seeking to become a high-income economy by 2036 and reduce development inequality. Strategic planning will be pivotal in ensuring the success of this digital transformation, solidifying Thailand’s position as a global economic powerhouse. 💹 Read more :

#Singapore’s #digital economy accounted for 17.7 per cent of the total GDP and generated 208,300 jobs in 2023. All sectors including SMEs were adopting digital technologies including #artificialintelligence according to IMDA. #AI adoption is on the rise with 44 per cent of larger enterprises implementing artificial intelligence-enabled solutions, more than double the 16.7 per cent in 2018. IMDA’s Chief Executive, Chuen Hong Lew, said the tech sector remains a key driver of the Singapore economy, and that this underscores the need for all companies, especially small and medium-sized enterprises (SMEs), to embrace the opportunities of digital as an enabler and a multiplier for growth. 🔖 https://buff.ly/3UrG8YJ #digitaleconomy

Latin America (LATAM): The Hidden “Pearl of the Occident” Acacia has long believed in LATAM's potential. We are excited to highlight why the market deserves more attention from VC. While Southeast Asia and India have attracted substantial investment over the past decade, LATAM remains a largely untapped market, now emerging as a hidden gem.💎 In 2023, LATAM's GDP reached USD 6,573 billion 📊. This figure is comparable to China’s GDP in 2010 (USD 6,043 billion), representing 37% of China’s current GDP and 24% of U.S. GDP. This comparison illustrates LATAM’s significant economic scale and reflects an impressive nominal growth rate of 12% 📈, outpacing China’s -1% and the U.S.’s 6% growth. This rapid nominal growth suggests that LATAM offers potential for business expansion 🚀. Although real GDP growth was slower—2.3% for LATAM vs. 5.2% for China and 2.5% for the U.S.—this is largely attributable to currency volatility. Such fluctuations might deter some investors, but the overarching trend of economic growth points to a fertile landscape for startups 🌱 poised to capitalize on this momentum. Examining per capita GDP offers further insight into LATAM's investment potential 💡. In 2022, LATAM’s per capita GDP was USD 9,559, trailing China’s USD 12,720. This figure masks significant variations among LATAM countries. For example, Mexico and Chile—with per capita GDPs of USD 11,497 and USD 15,355 —are experiencing steady economic growth similar to China’s more developed provinces 🏙️. Higher disposable incomes in Mexico (USD 8,560) and Chile (USD 10,920), compared to China’s USD 4,690 underscore the expanding middle class in these countries. This growing consumer base is receptive to e-commerce 🛒, fintech 💳, and other digital services 📱, presenting ripe opportunities for startups focused on these sectors. LATAM’s infrastructure is evolving rapidly, creating a favorable environment for technological growth. Smartphone penetration, which continues to rise, stood at 79% in 2022, with Brazil leading at 86%, Mexico at 81%, and Chile at 70%. Widespread adoption of mobile technology is a critical driver for digital services and technology startups. Reflecting on China’s explosive growth from 2005 to 2015 is helpful to understand LATAM’s future potential 🔍. The parallels between this period and LATAM’s current trajectory suggest that the region is poised for a similar surge. Our experience with the Chinese market positions us uniquely to identify the sectors and companies that will capitalize on this growth wave 🌊 and deliver exceptional returns. With its impressive economic growth, rising disposable incomes 💵, and advancing infrastructure 🏗️, LATAM is a promising investment opportunity and a hidden “pearl of the occident” that can yield significant returns for those who invest wisely 🏆. Contact us to discuss how you can capitalize on LATAM’s economic growth and be part of the region’s success story.

New Post: Asia’s Economies Can Embrace Services to Boost Growth and Productivity - https://lnkd.in/ekhWYzHv Economies Can Embrace Services to Boost Growth and Productivityhttps://lnkd.in/eZ-u6nzF Asia-Pacific region prospered by becoming the source of more than half of global factory output, but another transformation to higher-productivity services has the potential to further support growth. Tech The Asia-Pacific region prospered by becoming the source of more than half of global factory output, but another transformation to higher-productivity services has the potential to further support growth. Employment and production typically move from agriculture to manufacturing to services as part of the natural progression that comes with rising income. Today, many Asian countries—including China, Indonesia, Korea, and Thailand—are highly industrialised. If history is a guide, the industry’s share of production will shrink as more activity passes to services. Indeed, the growth of services has already drawn about half of the region’s workers into that sector, up from just 22 per cent in 1990, as hundreds of millions moved from farms and factories. This shift is likely to accelerate with further expansion of international trade in modern services such as finance, information, and communication technology, as well as business outsourcing (for example, as already done in India and the Philippines). By contrast, traditional services—for example, tourism or distribution services—have lower productivity and contribute less to economic growth. Policymakers should embrace this shift to modern services because they have higher productivity, as we show in an analytical note accompanying our October 2024 Asia-Pacific Regional Economic Outlook. Transitioning to a more services-led economy comes with greater economic growth opportunities, provided the right policies are in place. Productivity is an important variable when considering which sectors can best deliver growth in coming years. Manufacturing productivity in Asia is already close to the level of global leaders, so further improvement offers only limited scope to boost productivity and growth. By contrast, services in Asia don’t enjoy the same efficiency advantage, so the region’s economies have more to gain by catching up with countries that have the most efficient service sectors. In addition, in several service sectors like finance and business services, productivity is higher than in manufacturing, which means greater contributions to growth. For example, Asia’s labour productivity in financial services is four times higher than in manufacturing, and it’s twice as high in business services, our new analysis shows. Even so, countries need to have the right conditions in place to benefit from services. Manufac