Call for Technology to Lead Way in Creating Value for Business and Society

The eighth Annual Meeting of the New Champions closed today with leaders from the worlds of science, technology, business, government and civil society uniting in a call to accelerate the use of innovation and disruption to solve the world’s greatest challenges.The Meeting, which convened under the theme, Creating Value through Innovation, is the annual gathering of the World Economic Forum’s New Champions community. This comprises Global Growth Companies, Technology Pioneers, Young Global Leaders, Global Shapers, Social Entrepreneurs and Young Scientists. All are bound by a common interest and track record in bringing positive change through creative disruption. “Innovations are happening across the board, in all industries and sectors,” Olivier Schwab, Executive Director, China, World Economic Forum Beijing Representative Office, said in remarks to close the Meeting. “Some are truly game-changing, many are less discernible; nonetheless all are profoundly impacting the way we live and work.”There is no limit to the power of innovation, added Huang Xingguo, Mayor of Tianjin, which hosted the Meeting: “Innovation is the quintessence of the World Economic Forum. There is no limit. So long as we sail for innovation, the giant ship of the world economy will navigate to great prosperity.” Qu Xiaofei, Vice-Mayor of Dalian, which will host the next Annual Meeting of the New Champions from 9 to 11 September 2015, said: “The discussions on innovation we had in Tianjin have been conducive to the healthy development of China and the whole world.”

The highlight of the Annual Meeting of the New Champions 2014 was the address by Chinese Premier Li Keqiang to more than 1,900 participants from over 90 countries in the opening plenary. Li outlined China’s plans to accelerate reforms to drive innovation and entrepreneurship. “The government is taking the lead in conducting a ‘self-targeted revolution’,” he said. “Just like an arrow shot, there will be no turning back. We will deepen the reform of the administrative approval system. We hope to complete the task of removing and delegating items subject to government approval, originally planned for five years, within a two-year period.”In another session, Mentor of the Annual Meeting of the New Champions 2014 Natarajan Chandrasekaran, Chief Executive Officer and Managing Director of Tata Consultancy Services in India, confirmed the changing dynamics that business finds itself in as it looks to a rapidly transforming future. “Everything today happens on social media, not around the water cooler,” he said. “There is a need to move away from hierarchical systems. Inclusive leadership and collaboration are essential in the digital world.”Among the innovators present during the Meeting was Ivana Gadjanski, Assistant Professor, Belgrade Metropolitan University and a Young Scientist, who summed up the complexity and possibilities of innovation in one session: “Scientists are reinventing themselves as experts, not only in other fields of science but also in the areas of the arts and entrepreneurism. All are naturally disruptive and fit well together.”From the world of sports, Chinese basketball legend Yao Ming offered a unique take on how innovation in his field could contribute to the maintenance of a strong and resilient society. “In physical education, there is often much focus on competition but I would also like more focus on the connection between sports and education,” Yao said in one session. “Training and physical exercise makes you healthy but also teaches the importance of transparency and rules – that you cannot be a player and a referee, and that you must respect your competitor. This is important in a mature society.”