Driving growth: Sowing the seeds of future success - Issues - Ernst & Young - Vietnam

The success of Indians and Chinese in North America has led to a powerful reverse brain drain. As a consequence, the epicenter of innovation has begun to shift to Asia. Do Asian entrepreneurs have the key to global economic recovery? Read The phoenix effect 2009 for an in-depth analysis.

Global economic recovery depends on the proven relationship of entrepreneurship and innovation to economic growth (pdf, 1.21mb). Large corporations in particular must build and sustain innovation-oriented cultures to retain their roles as market leaders. Economic growth is also created by effective public policy — the current crisis is the perfect time for policy-makers and business leaders to support entrepreneurs and innovators at all levels of their economies.

In troubled financial times, hope for a brighter future resides largely in the world’s potential for renewed economic growth. Our research, "Groundbreakers: Using the strength of women to rebuild the world's economy," demonstrates that the increased participation of women in business could significantly enhance global growth.

The focus in clean technology is often on renewable energy. However, the provision of safe, clean drinking water supplies could eventually be a bigger challenge. We are already seeing new technologies aimed at areas like irrigation, metering, desalination and filtration. This is a market with huge potential for further innovation and development, as "Spotlight on water" (pdf, 5.2mb) points out.