How can companies in emerging markets acquire new technology?

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How can companies in emerging markets acquire new technology?
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But this diversification is enabled by the specialisation of individual economic agents – in particular new, formal firms – whose productivity is increased by intensified use of technology.
We suggest that there are essentially three alternative modes of acquiring technology: “build” (developing new technology in-house), “borrow” (attracting FDI), and “buy” (buying technology).
Given the difficulties that many developing economies have had in utilising the “build” and “borrow” modes, we develop a case for considering the “buy” mode as a means for acquiring technology in developing countries, and one which can be applied by development oriented governments.
Building firms and developing technology de novo is not only time-consuming, it is also clearly difficult, as evidenced by the very high rate of start-up failures.
Indeed, developing new product lines is difficult even for established firms – hence the routine use of mergers and acquisitions to round out a firm’s line of products or to establish a presence in a new market segment.
Developing countries should consider an outward FDI strategy to complement their inward FDI strategies (i.e., buy firms and the technological and management know-how embedded in them).
By applying the “buy” mode, developing countries can establish industrial holding companies that acquire, at a fraction of the original investment cost, the assets (and, temporarily, management) of technologically interesting plants and firms.
Although such firms may have failed in their original environment, transplanted to developing country environments and partnered with local firms, they can represent significant technology upgrades for the developing country and help it climb the technology ladder

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