According to “The 2015 Global Innovation Economy Survey: Insights and Analysis on Current State and Future Plans” produced by Leading Edge Only and BizTechReports, 88 percent of respondents consider innovation to be a major element of their product development initiatives, while 86 percent view innovation as a key element in new technology development.
The survey gained insight from 250 innovation providers and innovation seekers around the world – from large enterprises to small businesses and universities – and its findings were particularly intriguing. Although organizations are increasing their investments in innovation year-over-year, issues such as timing and implementation remain a challenge. Innovation can be particularly challenging for small and medium enterprises (SMEs).
We had the opportunity to talk with Lemuel “Lem” Lasher, chairman of the board, Leading Edge Only Ltd. Before joining Leading Edge Only, Lasher served as chief innovation officer and corporate vice president for the Office of Innovation for Computer Sciences Corporation. He shared with us his views about the survey and trends that are shaping global innovation. One of his key observations revolves around the changing nature of innovation in today’s economy: “Innovation is an ecosystem sport, not an enterprise sport — it requires a robust ecosystem of participants to be able to effectively connect and engage on the innovation agenda.”
Tune in below as we chat with Lem to put the survey results (see link to report below video window) into a business context for executives interested in developing and pursuing an effective innovation agenda.