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investment in innovation
A selection of InnovIQ and international research concerning the productivity of investment in innovation provides a basic context for the InnovIQ business:
- It takes 3000 raw ideas to create 1 success in the market - Stevens & Burley
- Only 0.2% of patents are commercially viable - USPTO
- The level of R&D expenditure has no direct effect on innovation output - Booz Allen
- Companies spending the most on R&D are not launching more innovative products - PA Consulting
- The average R&D project has a negative Net Present Value (NPV) - Boston Consulting Group
- Investment tends to be skewed to incremental changes - Various
- Areas of heavy investment are often the least productive - Various
- Low termination rates / 'Walking Dead' projects predominate - Various
- Innovation cannot be measured by R&D expenditure, patents or capital - Various
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