Outsourcing, offshoring—we often hear these words these days. We see their manifestations in call centers, back office operations, software engineering, engineering design, and animation companies mushrooming in our midst. But “innovation offshoring”? Yeah, that’s the new trend these days.
Innovation offshoring refers to the spread of research, development, and engineering jobs through “global innovation networks” all over the Asia-Pacific Region, most notably India and China. Major players in this phenomenon are American companies that are trying to cope with increasing complexity and multi-disciplinary nature of scientific research. Apparently, these companies are attracted by the availability of cheap talent in the region.
The same trend however is creating fears among Americans that the supposed “hollowing-out” of American economy is extending into the high-tech and R&D. There are now fears about Americans eventually losing its competitiveness to Asians. There are also fears among Asians that such a trend may create a backlash in the form of “technological protectionism.” These are valid fears for both America and the region.
So what’s the real deal? Is innovation offshoring really hurting America and benefiting Asia? Or is there a win-win solution to this issue for both Asia and America? Or is it benefitting both parties. What are innovation’s offshoring’s promises and pitfalls?
The Jefferson Fellowship will answer these questions soon. And I’m happy I’m one of those who were given the opportunity to participate. The sessions will conducted in Hawaii and San Jose CA in the US, Beijing and Shanghai in China, and Bangalore and Chennai in India. The fellowship will start April 29 until May 26.
So keep visiting this blog for updates. A happy weekend to all!