AYO Innovation Consulting surveyed 511 startups on what MNCs are the most innovative in China. Daxue Consulting helped analyze the results to uncover the 45 most innovative MNCs along with many other insights regarding collaboration between MNCs and startups in China. The results were shared at the AYO 500for500 Innovation Awards event on November 30th 2022.
Along with the announcement of the most innovative MNCs in China by industry, the report includes insights relevant to MNCs hoping work with local startups to improve their innovation.
Download the AYO 500for500 Most Innovative MNCs in China Report
Highlights from the report on MNC innovation in China
- According to Chinese startups, the most valued aspect of MNC clients is their brand, second is their budget.
- The biggest driver for Chinese startups to collaborate with MNCs is to build an impressive portfolio.
- The biggest barriers Chinese startups face when collaborating with MNCs are related to their bureaucracy. 77% of startups say that MNCs have too many procedures.
- The industries which startups have the highest hopes for increasing MNC innovation in China are Pharmaceutical and Transportation.
- 73% of startups expect MNCs to launch new products
- The most popular MNCs rated by Chinese startups for collaboration are Sanofi, L’Oreal, Huawei, BMW and AstraZeneca.
The most innovative MNCs in China by industry
- Dow Chemical
- Pizza Hut