Monthly Archives: March 2010

INSEAD Global Innovation Index released

INSEAD, the leading international business school, has announced the findings of its 2009-2010 Global Innovation Index (GII), a study which the school has jointly published with the Confederation of Indian Industry (CII) for the past three years. The GII evaluates the progress of innovation readiness in countries, highlighting the obstacles that prevent governments, businesses, and individuals from fully capturing the benefits of innovation.

“This year’s Report underlines the importance of innovation in country competitiveness and growth particularly at a time when the global economy is recovering from one of the worst financial crises it has ever seen,” said Soumitra Dutta, Roland Berger Professor of Business and Technology at INSEAD and primary author of the study. “The results confirm the crucial need for countries to focus on directed pro-innovation policies to jumpstart growth in the medium term and lead to development in the long term.”

‘The Global Innovation Index’, featured in the Report, examines how countries benefit from innovation through the use of enablers that stimulate innovation and their ensuing outputs. There are five enabling parameters which include: ‘Institutions’, ‘‘Human Capacity’, ‘General and ICT Infrastructure’, ‘Market Sophistication’ and ‘Business Sophistication’. The two output parameters – ‘Scientific Outputs’ and ‘Creative Outputs and Well-Being’ – provide evidence of the results of innovation within the economy.

Iceland topped this year’s GII ranking despite the difficult economic situation it has faced over the last two years. Sweden and Hong Kong follow in the second and third positions, respectively. Several of the most innovative countries from last year’s Report, including the U.S. (eleven), U.K. (fourteen) and Germany (sixteen) have fallen in the ranks.

The top ten countries in the overall 2009-2010 GII ranking include:

1. Iceland
2. Sweden
3. Hong Kong, China
4. Switzerland
5. Denmark
6. Finland
7. Singapore
8. Netherlands
9. New Zealand
10. Norway

Similar to the 2008-2009 Report, European economies performed particularly well, including the Nordic ones – Sweden, Denmark, Finland and Norway – which all ranked in the top 10 with Iceland. Some of the Eastern European countries such as Slovenia (26), Czech Republic (27) and Estonia (29) also performed well in this year’s rankings. Israel and the United Arab Emirates placed within the top 25 countries, followed closely by Kuwait (33) and Qatar (35).

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The Daimler Smart Car – an Open Innovation Success Story

Daimler’s “Style Your Smart” open innovation contest yielded 50,000 ideas in a six week period as 8,000 participants from more than 100 countries used their creativity to help the car manufacturer innovate.

“Style Your Smart” was open for around six weeks and participants were invited to use the company’s online toolkit to create, or they could submit their own designs. The take up was phenomenal. Within 10 days of launch 10,000 unique ideas had been submitted.

During the competition contestants exchanged opinions and evaluated each other’s ideas which resulted in more than 600,000 online ratings.

Cash Prizes

The submissions were adjudicated by an expert panel of judges who based their verdict on these ratings. The overall winner with the most creative design was Tamir Shefer from Jaffa, Israel who received prize money totaling €1,500 (approx USD $2,000). Some participants were also awarded cash prizes for being the most active on the website and three other designs picked up prize money.

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Xerox establishes Open Innovation R&D Hub in India

It is interesting to see the real spread of Open Innovation across the globe. The notion of co-creation has to be the way forward, especially as organizations such as Xerox address new markets with new solutions. The old models just will not work in these environments.

Xerox has announced it will open an R&D hub in India with a very Open Innovation flavour.

Here is a quote from an article in the Economic Times:

….We are not looking to hire lots of researchers but will collaborate with local universities, start-up companies, governments and businesses. It will be based on open innovation rather than closed innovation (or, entirely in-house). In an open innovation model you co-create and co-innovate with partners in industry, universities and government.

…..The Chennai innovation hub will be a centre of connectors. For every person we hire, we will partner at least 50 or more people.

Every person will be working on at least five projects and with each project, there will be at least 10 people and hence, it has a big magnifying effect. There will be a large number of innovators working. It will eventually be larger than the European center of Xerox.

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