More on Innovation

Dec 22, 04

The recent Boston Consulting Group?s 2004-2005 Senior Executive Survey on Innovation shared the following preliminary findings from the study:

  • 73 percent of participants worldwide said their companies will increase spending on innovation in 2005, up from 64 percent in 2004. On average, participants said their companies plan to boost spending on innovation by 15 percent.
  • The consumer products and technology industries had the highest percentage of respondents reporting plans to increase innovation spending in 2005, at 80 percent and 79 percent respectively. Telecommunications had the lowest, with 61 percent.
  • The Asia-Pacific region led with 78 percent of participants planning increases, although North America (73 percent) and Europe (70 percent) were close behind.
  • Another recent report on Innovation has been brought out by the US Council of innovation tilted “Innovate America” is worth a read for anyone who is interested in finding out how Innovation is going to shape the future. [Via Chuck Frey’s Blog]

    I particularly liked this idea from the report

    21st Century Innovation Opportunity ? the Hydrogen Economy

    The potential of a hydrogen economy to address major challenges facing America and the rest of the world is capturing the imaginations of consumers,
    researchers, government and industry.

    Why hydrogen? There are many compelling reasons. According to Larry Burns, Vice President, Research & Development and Planning for General Motors

  • A hydrogen fuel cell vehicle is nearly twice as energy efficient as a conventional vehicle, and its only emission is water vapor.
  • Hydrogen can be extracted from various fuels, promoting energy diversity.
  • The introduction of alternative energy sources should decrease petroleum dependence and increase energy security, and could make energy pricing more competitive.
  • Fuel cells will enable the auto industry to reinvent the automobile itself. They are the foundation for innovative and compelling vehicle designs that show great promise of being affordable, sustainable, and profitable.
  • Fuel cells are a potential source not only of transportation power, but also of electrical power. They could enable new, more environmentally compatible, distributed electric-power
  • If you are not sated yet, go on to read about the World’s Top Ten Greatest innovators according to Dave Pollard’s at his blog

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