The purpose of this paper is to look at developments in the drive for open innovation initiatives.
The paper looks at the global economy and the need for businesses in the United States and Europe to stay one step ahead of the competition.
What is the current state of innovation within the USA and Europe and how do they rank compared to each other and the rest of the world? Two studies published in early 2009 have sought to assess the situation, and both have attempted to take a broader view of the factors influencing innovation and a more holistic understanding of how a country is performing. Crucially, both found that the USA is probably less innovative than many would assume, and definitely far from the runaway leader in the innovation stakes that some other studies suggest. Moreover, one study suggests that the USA has made the least progress of all the nations/regions studied in terms of improvement in international competitiveness and innovation capacity over the last decade. If this was to continue, the country could face being overtaken in terms of innovation‐based competitiveness by even more nations, including Europe as a whole, within the next decade.
The paper provides a useful insight into developments in the drive for open innovation initiatives.
