Measuring innovation

Nesta is developing an innovation index to measure and compare the level of innovation of companies within an industry.

You can read the full article on the Business Week website

 

CBI report on service innovation

The CBI published a report that explores how service innovation can help companies achieve competitive advantage.

The CBI and QinetiQ study found that company culture and market forces are the two main drivers of innovation in the service sector. Having a positive attitude to creativity, risk and failure is vital, and firms that are always willing to learn are also the ones most likely to succeed.

Key recommendations in the CBI/QinetiQ report include:
- Using the tax system as a tool to encourage innovation, by making it more forgiving and flexible
- Increasing the proportion of the government’s annual purchasing budget going on innovative services
- Improving financial support for companies wishing to take risks with new services
- Identifying champions of innovation across government and the public sector
- Encouraging firms to work with universities and other to share data for service sector research.

Engine contributed to the by adding the consultancy view on service innovation, with an emphasis on design and culture.

You can download the report from Engine’s website. Just click on the link at the bottom of the page.