Monday, 16th July 2012
UK Innovation Index: Measuring the Contribution of Innovation to Economic Growth, and How This Varies Across Sectors
From Press Release:
The UK economy has experienced a ‘lost decade’ of innovation, with new evidence showing that businesses had a crisis of confidence in the 2000s, prioritising cash and concrete over investment in innovation.
The UK economy has experienced a 'lost decade' of innovation, with new evidence showing that businesses had a crisis of confidence in the 2000s, prioritising cash and concrete over investment in innovation.
Nesta's latest Innovation Index released today shows that investment in innovation by British businesses has fallen by £24bn since the recession began and has not recovered. This is five times the amount the Government spends each year on science and technology research.
Today's report, including the third Innovation Index, shows:
Innovation investment fell by 7% or £7.4bn between 2008 and 2009, as the recession began
A further fall of 14%, or £17bn, from 2009 to 2011, according to a survey of 1,200 businesses
After rising steadily from 1990 to 2000, innovation stagnated from 2000-2008 at 12% of private sector output
+ Direct link to Report (PDF; 1 MB)
+ Press release
By Adrian Janes
Having begun his career in academic libraries, Adrian Janes is currently an Information Services Librarian with the London Borough of Havering.
In this role, he has particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by Free Pint Ltd. in 2007. He is also involved in training and publicising online reference resources and is a regular contributor to DocuTicker.
Adrian can be reached at firstname.lastname@example.org
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