Since 2010, the MIT Technology Review, a globally influential technology media outlet, has been annually publishing a list of the 50 companies that best combine innovative technology with an effective business model around the world.

MIT Technology Review picks the 50 smartest companies based on what the companies did over the last year, what methods they used and what achievements they made. 

They evaluate the companies' core competence with emerging technologies and any breakthroughs and innovation the companies have achieved for themselves, their industries, or even the world. Huawei was included in the list this year for its outstanding capabilities in innovation.

William Xu, Huawei's Director of the Board and President of the Institute of Strategic Research, delivered a speech about Huawei's innovation strategy at the 50 Smartest Companies 2019 China Summit. 
He stated that "Over the past 30 years, Huawei mainly made technical and engineering innovations as well as innovations in solutions based on customer needs. 
We call that Innovation 1.0. In the future, Huawei will pursue Innovation 2.0, which refers to theoretical breakthroughs and inventions driven by vision."

The MIT Technology Review celebrated the 50 Smartest Companies for the first time in China this year, with the list containing entries for Chinese companies and international companies that operate in China.