‘Most-innovative company in the world’ is a Chinese firm that delivers takeaway food, not Google or Facebook

The top two most innovative companies in the world are from Asia, according to Fast Company, a US business magazine, in the latest sign that the West is waking up to the fact that a lot of innovation today is taking place beyond Silicon Valley.

Dubbed by Fast Company as “transactional super apps”, both Meituan Dianping and Grab are recognised for the changes they have brought to hundreds of millions of Asian consumers. This not only relates to buying food and booking hotels but also the transformation the companies have brought to local businesses in terms of digitising their operations and fuelling their growth and expansion.

“They may not be well known in the US, but Meituan and Grab are changing the lives of hundreds of millions of consumers and millions of merchants with highly complex operations disguised as simple transactions – elegant tech to enable real-world experiences,” Fast Company wrote in an article published on Wednesday, explaining the rationale behind the ranking.

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