You can be innovative or original only if you're willing to take risks. Nine out of ten, a person is not going to take a risk is if there is no cushion of stability for them to land on.
Innovation and financial stability go hand in hand. People in the developing and up and coming economic nations, for the most part, tend to play it safe when it comes to their career choices or any business risks, leaving very little room for innovation."
Agree with you guys.In Asia basic needs are not fulfilled for everybody so our time goes mostly for that.
Pretty statistics and charts do not tell the whole story....Ask a poor person about innovation who does not have enough to feed himself and/or his family. And that maybe true for most of those 200 million people. Maybe there would be 10% who would have enough for their basic needs and some saved up.
The next question would be the literacy rates. There is no comparison with a nation having a 95% plus literacy rate and a nation with a 60% literacy rate (where quality of education is also bad). For comparison UK spends almost £90-100 billion on education yearly (catering about 64 million people) and Pakistan only spends about £0.65 billion on education yearly (catering about 200 million people). This difference in investment alone will make up the vast difference in innovation.
Stability and security. A stable political system with security brings in investment and SMEs flourish which are the backbone of innovation. Developed countries have this but some developing countries lack this together with protectionism.