Germany is a top innovation player – but outside the EU others prevail
Good news from the EU capital Brussels. Sweden, Germany, Ireland and Luxembourg are the innovation leaders among all EU states. This is the final conclusion of the latest innovation study of the EU Commission on research, innovation and science. The level of technological innovation is measured by various indicators, such as number of patents and employment in knowledge-based industries. Another input used to measure innovation is the share of high-tech and medium-tech products in the total economic output of a country. But: Germany is at the top of the ranking only if it is limited to EU countries. When compared with Switzerland or Japan, Germany still has some catching up to do. The EU as a whole is on a similar level as the U.S., but the question is for how long. It should be noticed that within the EU itself are big disparities in the level of innovation between the various member countries. Outside of the EU the global competition goes on. German companies should keep up their innovation culture and management. Successful innovation can only happen if a company has enough high-quality ideas. This issues resonates quite frequently in our daily work with clients. We shall give one example: For one of our clients we collected more than 18,000 opinions about new ideas in just four days which allowed for the product roadmap to be focused on the best new ideas. All efforts of the client are now geared towards the top ideas as opposed to the company spreading itself thin across too many mediocre ideas. We hope that such tools will become more frequently used in companies in order to achieve a more focused innovation. Learn more here.