Recent breakthroughs in medical science, genetics and biotechnology were recognized in a forum Wednesday rewarding the top innovations in the growing sector. The event, which was hosted by a panel of industry experts in Paris, France, generated a "Top 10" list of revolutionary innovations.

Although faltering after the global financial collapse of 2008, China has emerged from the recession poised to become a leading developer of high-tech enterprises and innovations.

If anything contextualizes the impact of a globalized economy, it is the financial collapse of 2008 - a catastrophic economic breakdown that rippled across the globe eliminating jobs and impeding growth in sectors from financial consulting to automobile sales to high-tech manufacturing.

Speaking in an interview Wednesday, incoming Merck CEO Kenneth Frazier stressed the importance of technology and innovation in moving the pharmaceutical industry ahead.

Recalling the Soviet Union's 1957 launch of the Sputnik satellite probe which initiated the Space Race, a top U.S. official has cited China's recent emergence as a leader in green tech innovation as a "Sputnik moment" for the United States.

Over the past decade, globalization, mobile technology and the ubiquity of web-based communication have allowed once-troubled countries such as China, India and Brazil to emerge as leaders in global innovation.

A federal jury ruled Tuesday that SAP must pay Oracle $1.3 billion in damages stemming from a copyright infringement suit involving SAP's now defunct subsidiary TomorrowNow. The California jury ruled that TomorrowNow had illegally downloaded hundreds of thousands of programs owned by Oracle in an attempt to steal customers away.

Canada's most populous province may be slacking in innovation, according to a report studying workplace innovation by the Task Force on Competitiveness, Productivity and Economic Progress.

At its annual SmartCamp World Finals in Dublin, Ireland, this week, IBM announced Streetline Inc. as the 2010 Global Entrepreneur of the Year. The firm was among more than 600 worldwide tech-focused startups to participate in the competition.

General Electric announced the first 12 winners of its $200 million Ecomagination innovation competition Monday at a conference in New York City. The winners will receive investments totaling $55 million.