A businessman holds a coffee mug while drawing a graphic on a transparent board. Photo: iStock/Getty

Four companies from Asia made Forbes’ top 10 list of the world’s most innovative companies this year, according to data released on Wednesday.

Leading the way was China’s largest biotechnology company Shanghai RAAS Blood Products, which ranked No. 4.

Hindustan Unilever, India’s household products company, ranked 7th, while Indian paint company Asian Paints came in at No. 8. Korea’s internet giant Naver followed at No. 9.

Six companies from China, India, Indonesia, and Korea were in the top 20 this year, reflecting a deeper distribution of innovation capability across the world, Forbes said.

The World’s Most Innovative Companies list, co-produced with consulting firm Innovator’s DNA, is released annually. The 100 companies were ranked on their ability to come up with the next big innovative idea.

To be included in the list, companies need at least seven years of public financial data and $10 billion in market capitalization, the report said.

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