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WHAT DO NASA, THE WORLD'S LOWEST- COST CAR AND AffORDAbLE PREVENTION Of fAKE MEDICINES ALL HAVE IN COMMON? find out at The Economist's Eighth Annual Innovation Summit October 30th 2009 . The Dorchester, London SuMMIT PRICE: Individual places: £ 495.00 plus VAT Group offer ( where two or more delegates register simultaneously): £ 350.00 per person TO bOOK: Online: www. economistinnovation. com and quote reference: IUK when registering on- line Email: customerserviceuk@ economist. com Tel: 020 7576 8118 Host sponsor: Lead sponsor: Award sponsors: SPEAKERS THIS yEAR INCLuDE: Joseph Adelegan, President, Green Globe Trust and Founder, Cows to Kilowatts Partnership Sachin Duggal, President and Chief Executive Officer, Nivio ( providing a cheap desktop accessible to anyone, anywhere) Ravi Kant, Vice- chairman, Tata Motors ( creators of the world's lowest- cost car) Sergio Kapusta, Chief Scientist - Materials, Shell Sourabh Jain, Founder and Chief Executive Officer, ngpay ( allowing people to make payments using mobile phones) Mark Langley, Executive Vice- president and Chief Operating Officer, Project Management Institute Julie Meyer, Founder and Chief Executive Officer, Ariadne Capital ( supprting start- ups) Lesa Roe, Director, NASA's Langley Research Center Syl Saller, Global Innovation Director, Diageo Bright Simons, Co- founder, mPedigree ( preventing counterfeit medicines using mobile phones) JOINED by... The 2009 Innovation Award Winners

INNOVATION UK123 It may be the worst of economic times, but recessions - and even depressions - tend to be the best of times for far- seeing entrepreneurs and business executives committed to innovation. Indeed, many keen observers declare that innovation is recession- resistant if not fully recession- proof. Consider the list of companies started in previous down-turns: General Electric, Hewlett- Packard, Texas Instru-ments, Walt Disney and Microsoft. Or the products launched during recessions, when the common wisdom was to cut back rather than spend money on new ideas: the integrated circuit, the IBM personal computer, Rice Krispies and the iPod. Innovation is a long- term strategic weapon as well as the foundation for success, growth and prosperity for both business and society. It is precisely during difficult eco-nomic times that it needs to be nourished, not neglected. That's why big companies such as Procter & Gamble, Intel, Johnson & Johnson and Cisco all have made pub-lic commitments that during the currentrecession they will maintain funding for R& D to position themselves to grow and be leaders, through innovation, in the inevitable upturn. The Economist's Eighth Annual Innovation Summit and Awards highlight the individuals and organisations that are making outstanding innovations in a wide variety of fields. The summit brings together many of the world's brightest minds to discuss and debate how to support innovation and use it to propel business forward. The awards ceremony celebrates seven individuals and one company for their world- leading innovations. Described as the " Oscars of Innovation", the awards rec-ognise not just brilliant ideas, but the commercialisation and adoption of those ideas as products, which can pro-duce immense changes in society. When evaluating ideas, judges rate them on meeting three criteria: » » Impact on an emerging branch of science, technology or business; » » Impact on revenue of the award winner's sponsoring organisation or enterprise, or on general economic or societal well- being; and » » Impact on a marketplace or the establishment of a new market. Innovative ideas are not limited to any one region of the world, nor do they solely emerge from large corporations with deep financial resources. Over the course of the past seven years, winners of the The Economist's Innova-tion Awards have hailed from countries as diverse as America, Bangladesh, Britain, Canada, Finland, India, Japan and Peru. Sometimes the recognition is awarded to a lonely researcher in a university laboratory, other times to teams in advanced corporate R& D organisations or to entrepre-neurs whose work may pose a threat to their own com-pany's existing products. But in every case the dedicated individuals have persevered, brought their discoveries to life and had a startling impact. Three previous winners went on to win Nobel Prizes for their accomplishments and others had been awarded Nobel Prizes before being recognised by The Economist. The Economist presents its Innovation Awards to individu-als in recent economic history who have toiled in seven areas: » » Bioscience, which includes pharmaceuticals, biotechnology and agriculture. » » Business Process, which ranges from enabling compounds, products and technologies to the very methods that underpin product discovery, design, or manufacturing. The business process category even applies to supply- chain and fulfillment innovations. » » Energy and the Environment, with products that include the production of energy, novel forms of transport, and radical ways of developing the Innovation and The Economist Tom Standage reports on the The Economist Eighth Annual Innovation Summit and Awards Open Innovation THE ECONOMIST