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Gauging Innovation's Pulse
Gauging Innovation's Pulse
The GE Global Innovation Barometer 2012, a worldwide survey of around 3,000 senior executives in 22 countries, suggests that business leaders in developed economies such as the US, Germany and the UK believe their nations arent as innovative as they should be. Indian business leaders are largely tepid about the state of innovation in the country. For instance, in a countrywide ranking of satisfaction, India was placed 10th among the 22 countries with a consistently ambivalent perception of intellectual property security and government and university support for innovation. Interestingly, however, while respondents in most countries favoured the inclusion of more creative people for improving their organizations innovative abilities, Indian executives felt greater business partnerships and infusion of capital were more important for innovation. On a positive note, business leaders largely agreed that innovative practices, especially in energy, healthcare and consumer goods industries, could significantly improve the daily lives of people and were not just profit drivers. The survey sought to gauge the impressions of business executives about the scale, impact and government encouragement of innovation in their countries.
Leading
Above average
Below average
Lagging
Israel Sweden United Arab Emirates Singapore China Canada Saudi Arabia South Korea Turkey India US Australia South Africa Mexico Germany UK Brazil France Algeria Japan Poland Russia
Leading Above average Below average Lagging
+
Population support for innovation Ability to partner with universities Effective IP and patent protection Efficacy of public-private partnerships
(% of respondents)
23%
52% 39% 37% 37% 37% 35% 35% 33% 32% 29% 29%
38% 42% 44% 43% 43% 43% 43% 42% 43% 44% 41%
Global India
There is a decrease in R&D spending or major R&D projects have been either cancelled or scaled back 90% 80% 70%
Global India
61%
74%
71%
57% 51%
There is a change in culture, with firms taking fewer risks
Access to venture capital has become more difficult Source: GE GlobalGE Global Innovation Barometer 2012 Source: Innovation Barometer 2012