Innovation 2.0 will usher in a new era of ubiquitous, next-gen connectivity

Chinese tech giant, Huawei, has launched its Innovation 2.0 initiative, which will see the company double down on research and development and innovation.

Through the initiative, Huawei hopes to overcome the bottlenecks that have hampered innovation in the ICT and telecoms spheres. The company has established its Institute of Strategic Research to help launch its Innovation 2.0 initiative.

The creation of the Institute of Strategic Research will also help to develop synergies between the enterprise sector and public universities.

"In innovation 1.0, we have focused on providing innovative products, technologies, and solutions that meet customer needs,” said William Xu, director of the board and president of the Institute of Strategic Research at Huawei.

"In Innovation 2.0, we aim to steer innovation and drive innovations in theories and basic technologies that can promote social progress. Universities make significant contributions in these areas."

"Collaboration between businesses and universities is a two-way process in which both parties benefit by driving theoretical breakthroughs and inventions. From a business perspective, this means creating value for customers and serving end consumers through their offerings."

Last year Huawei invested $14 billion in research and development, aking it one of the world’s biggest investors in 5G technology.