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Asia: Sustaining Future Growth

Asia: Sustaining Future Growth

As the population of Asian countries continues to grow and its economy surpasses that of Western countries, sustainability becomes a key issue. Often, technology has environmental, economic, and educational effects that are more far-reaching than can be determined at the beginning. What can Asia expect as it continues its climb up the global ladder toward world leader, and how does sustainability impact this journey?

The Search for Innovation Talent

Always, sustainable technology will begin with an idea, design, or item that will not impact the environment or social climate that the technology will be introduced too, or the ecology in which it will work. However, sustainability isn’t just about environmental or ecological impacts – it also comes down to what a country needs to be able to continue to produce its own technology. A major issue for the Asia-Pacific region continues to be a lack talent available in the region. Talent must be readily available and have the skills needed to produce innovative and sustainable technology.

Problematic for Asia is that many of the college aged population attend school abroad, perhaps with the thought that they can acquire a more creative education. In many cases, those students remain in their adoptive countries, establishing careers and gaining experience for years, before traveling back to their homeland. In some cases, they choose to remain in their adoptive country permanently. It becomes even more difficult as they establish not only careers, but also families, and financial investments.

Marketing Sustainable Technology

Green products and sustainable technology is often described as being much more expensive. Consumers can respond negatively to a new innovation if they believe it will cost them more money. However, the green trend has become more mainstream in recent years, thus more popular and widely accepted. It is also more affordable. A recently established cleaning company who uses non-toxic and environmentally friendly products has been met with astounding success and high-demand in Asia. Business is so successful that franchises are now beginning to appear across Asia-Pacific.

Marketing sustainable technology will grow easier as incentives from businesses and government becomes available to consumers. The government of Malaysia began offering fiscal incentives to bio-technology companies in 2013, including grants to assist with growth. Singapore has joined in on the sustainability initiative as well with the establishment of its first green factory – one that has the distinction of being the first factory in the nation to limit its carbon footprint during its construction.

As consumer awareness increases on the environmental impact that technology has, so does the pressure for companies and governments to create sustainable solutions. Many consumers are now willing to pay more for a product if they’re aware of its sustainability and ecological impact. Adopting sustainable technology shouldn’t be difficult. As urbanization moves forward, Asia will continue to be a forerunner for the development of smart cities, which will be able to sustain themselves and include technology that produces renewable energy and resources for citizens.

 

 

Reference

http://www.techinasia.com/how-businesses-are-going-green/

http://dawn.com/news/1050093/malaysias-biotech-industry-hits-total-revenue-of-us11b

 

 

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