innovation potential. distinct innovation types-- four clusters 33% 13% 21% wales
TRANSCRIPT
Innovation Innovation potentialpotential
Distinct innovation types-- four clustersDistinct innovation types-- four clusters
Stars36%
Erratic11%
Moderate29%
Lacklustre24%
33%
33%
13%21%
Wales
The Innovation IndexThe Innovation Index
* R&D, design, new technologyR&D, design, new technology
* links to universitieslinks to universities
* learning from failurelearning from failure
* ideas generationideas generation
* ideas management & follow-upideas management & follow-up
* innovation targetsinnovation targets
Ideas generationIdeas generation(internal, external, (internal, external, holistic)holistic) 0 20 40 60 80 100
Formal staff suggestion scheme
Time/resources to generate own ideas
Training in ideas generation/ creativity
Monitor academic research
Involve customers
Involve suppliers
Foresight/ future watching activity
%
Ideas managementIdeas management(people, processes, (people, processes, technology)technology)
0 20 40 60 80 100
Use knowledge transfer specialists
Board-level Champion
Regular review of ideas
Review /audit of innovation processes
Use IT system to track ideas
%
Ideas Ideas exploitationexploitation
0 20 40 60 80 100
Innovation sales targets
Sale, trade or spin out of ideas
Subscribe to ideas tradingorganisation/ web site
Give away ideas
%
Culture differences- stars vs. lacklustreCulture differences- stars vs. lacklustre
0 20 40 60 80 100
Board level champion for innovation
Foresight/ future watch
University links for skills development
Formal staff suggestion scheme
Time/resources to generate own ideas
Ideas generation/ creativity training
Regular audit of innovation process
%
Typical business profiles for the Typical business profiles for the clustersclusters
StarsStars
• InternationalisedInternationalised
• Multi-regionMulti-region
• Mostly large,Mostly large,but 45% are SMEsbut 45% are SMEs
LacklustreLacklustre
• Most only UK-focusedMost only UK-focused
• Single regionSingle region
• 78% SMEs78% SMEs
Typical business profiles for the Typical business profiles for the clustersclusters
ModeratesModerates
• Many UK-focused Many UK-focused (40%)(40%)
• Few multi-regionFew multi-region
• Few are very largeFew are very large
ErraticsErratics
• Moderate international Moderate international activityactivity
• Many in south, Many in south, southeast and Londonsoutheast and London
• Average 2000 Average 2000 employeesemployees
Innovation potential = innovation Innovation potential = innovation successsuccess
StarsStars
• Highest innovation Highest innovation outputoutput
ModeratesModerates
• Product and service Product and service innovation high. innovation high. Process & business Process & business model innovation OKmodel innovation OK
LacklustreLacklustre
• Lowest output of Lowest output of product, service and product, service and process innovationsprocess innovations
ErraticsErratics
• Process, product, Process, product, service innovation OK. service innovation OK. Worst for business Worst for business model innovation by model innovation by farfar
R&D, design and technologyR&D, design and technology
50 60 70 80 90 100
Conduct own R&D
Design rated as very important inproduct or service development
e-technology
Human factor technology
%
Stars Lacklustre Moderates Erratics
R&D and technology investment-- up or R&D and technology investment-- up or down?down?
-50
-40
-30
-20
-10
0
10
1-49 50-249 250-999 1000-4999 5000+
R&Dactivity
Newtechnology
Impact of economic Impact of economic conditionsconditions
-40
-30
-20
-10
0
10
20
30
40
R&D activity Spend onnew
technology
Training MarketingActivity
Recruitmentof skilled staff
Ba
lan
ce
of
Sc
ore
s
UK Wales
ConclusionsConclusions
• DANGER SIGNS:DANGER SIGNS: R&D and technology R&D and technology investmentinvestment
• Overall need to improve intangible aspects of Overall need to improve intangible aspects of innovation cultureinnovation culture
• LacklustresLacklustres need long-term investment and need long-term investment and culture change planculture change plan
• ModeratesModerates could focus on improving ideas could focus on improving ideas generation, management and exploitationgeneration, management and exploitation
• Erratics…Erratics… address design, internal working address design, internal working relationships, use of human factor technologiesrelationships, use of human factor technologies
Finally… constraints on innovation in Finally… constraints on innovation in WalesWales
1. Access to finance1. Access to finance
2. Availability/cost of information on markets2. Availability/cost of information on markets
3. Availability/cost of consultants and designers 3. Availability/cost of consultants and designers etcetc
4. Cost of finance4. Cost of finance
……and has the marketing activity paid off?and has the marketing activity paid off?