Introduction: Fast cycle innovation in the Asia Pacific

© Springer Nature Singapore Pte Ltd. 2018. This chapter introduces the central thesis of the book that while the Asia Pacific has become the centre of world manufacturing, it now faces a greater challenge in how to transform both its manufacturing and service economy to achieve the potential of a knowledge economy. This innovation towards a knowledge economy involves a continuous process impacting upon every aspect of industry and society. Knowledge economies are economies in which growth is dependent on the quantity, quality, and accessibility and usefulness of ideas, creativity and information, rather than simply increasing the material means of production. The chapter introduces the technological trajectories of national innovation systems in the Asia Pacific, and examines the basis of fast cycle innovation. It explores the implications of the internationalisation of innovation, and the importance of sustaining investment in research and innovation. The significance of a culture of innovation is highlighted, and how this might contribute to rapidly changing techno-economic paradigms in the Asia Pacific