[Hangzhou, China, July 1, 2019] Huawei was named one of the world’s 50 Smartest Companies in the MIT Technology Review’s annual list. The influential technology publication has published its list of the 50 companies that best combine innovative technology with an effective business model annually since 2010.
MIT Technology Review’s 50 smartest companies list is based on evaluation of the companies' core competence with emerging technologies as well as breakthroughs and innovation the companies have achieved. Huawei was included in the list this year for its outstanding capabilities in innovation.
William Xu, Huawei's Director of the Board and President of the Institute of Strategic Research, speaking at the 50 Smartest Companies 2019 China Summit said, "Over the past 30 years, Huawei mainly achieved technical and engineering innovations as well as innovative solutions based on customer needs: which we call Innovation 1.0. In the future, Huawei will pursue Innovation 2.0, which refers to theoretical breakthroughs and inventions driven by vision. Huawei sticks to open innovation and inclusive development. Open innovation means innovating together with global experts. In this process, resources and capabilities are shared. Inclusive development means the fruits of any innovation should be shared and used by all humanity and industries. This can lighten the future of the world and industries."
Xu noted that academia is a source for theoretical breakthroughs and inventions, while industries drive progress by raising challenges, addressing customer needs and funding the research conducted by universities. He said Huawei will continue to support research at universities and other institutions and is committed to exploring and identifying future-proof technologies along the whole information process, from information generation, storage, computing, transmission, presentation, to information consumption.
The award ceremony for the MIT Technology Review’s 50 Smartest Companies was held in China for the first time this year.
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