How to Measure Innovation

Ernest Beck reported in BusinessWeek, July 16, 2008, the National Endowment for Science, Technology & the Arts [NESTA], the independent British organization, is working on a new index to assess the state of innovation within specific industries.

" Since the 1970s, Britain's economy has made a dramatic shift from manufacturing to services, ranging from banking and finance to advertising and film production. But to date there's been no way to take stock of how innovative the companies and the industries actually are. Traditional methods of measuring innovation, such as the level of investment in research and development, don't tell the entire story.

" In an effort to more adequately measure innovation — and its impact on Britain's entire economy — NESTA, a nonprofit organization that promotes innovation, wants to create a new index, one that will be industry-specific and include what NESTA Executive Director Richard Halkett calls the changing, unreported face of innovation. "

NESTA's new Innovation Index is due in 2010.

More on >> BusinessWeek Jul.16, 2008.

17:45 Posted by St Wojcik in News EN | Permalink | Comments (0) | Tags: science, innovation, technology |  Facebook |