Renewing Britain’s legacy of innovation [Business Week]
Business Week comments on the recent Cox Review of Creativity in Business (see also my previous post) and publishes excerpts of an interview with the author Sir George Cox. According to the magazine, the report’s findings are worrying.
“Far from reassuring Britain that its creative edge is well-honed and immune to the global competition, Sir George discovered that the country needs immediate economic and academic support if it’s to remain a creative leader. He noted that Britain’s proportional R&D spending lags behind not only that of the U.S. but also France and Germany. Less than one-third of British companies have launched a new product or service in the past two years.”
“To make matters worse, the report found that Britain has only 5 to 10 years to get its act together before Asia and Latin America threaten to dominate the world of innovation. In the past few years, Korea and Taiwan have built vast design centers to showcase national work and house creativity conferences.”
