While innovation is most prevalent in the United States in recent years, in the sectors discussed in the previous chapter, innovation in China and India may be driven more by local factors and conditions relevant to those economies and societies. This thinking has recently spawned the notions of “innovation at the bottom of the pyramid,” as well as “reverse innovation.” The latter concept talks to innovating in developing and emerging markets to meet their cost and price points, and then, for comparison, we also discuss the areas that have a need for innovation in the United States. We deliberate on these issues in this chapter.
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