Commodore Innovation

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How to improve measurement of innovation performance in your organization.

Commodore Innovation

Once you’ve decided you want to do something about how your organization measures innovation performance, knowing what to do next isn’t always obvious. We often have conversations with innovation leaders who get to this point and reach out to us for advice on what to do next. Our advice tends to cover some combination of the following, which we expand on further in this post: Understand whether there are good reasons to tackle innovation measurement now ( go to section ).

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COVID-19: Business R&D Spending Will Fall by at Least 5-6%

Commodore Innovation

In the last few weeks our worlds have been turned upside down. As individuals we are grappling with the fear, disruption and uncertainty brought about by COVID-19. The organizations we work for are scrambling to manage extraordinary challenges. In some sectors, the threat is unquestionably existential. For almost all it is likely unprecedented. Innovation teams are not, of course, immune to this disruption.

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COVID-19: Your innovation strategy’s been updated. Now what?

Commodore Innovation

Many organizations’ responses to the COVID-19 crisis have already switched from the tactical to the strategic. Your organization has likely updated its innovation strategy (or at least started to). That’s an essential first step. But the changes to your innovation strategy have probably been significant—that means you’ll need to invest significant effort in implementing those changes.

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Budget cuts are here. Time to bolster the case for innovation.

Commodore Innovation

“What we are ultimately going to be able to accomplish is directly tied to the rest of the organization believing we’re important.” —senior director of innovation, aerospace industry Chances are you’re dealing with budget cuts for this year, and also anticipating a tough environment in 2021. In a recent survey, we found that nearly 80% of firms were cutting budgets for the remainder of 2020, while 45% expected to also cut 2021 budgets (relative to 2019).

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Will AI dramatically alter the economics of innovation?

Commodore Innovation

The hype surrounding artificial intelligence (AI) invites skepticism. But underlying the optimism (and fear) there’s a simple, but potentially important truth: AI, especially machine learning (deep learning in particular), could change the economics of innovation. If that happens the consequences could be far reaching [1], [2]—for competitive dynamics within industries, for economic growth, for government regulation and beyond.

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After a strong Q3, where next for innovation investment?

Commodore Innovation

Innovation spending grew strongly in Q3 Investment in innovation by US-listed firms grew strongly in the third quarter of 2020—reflecting strong economic growth for the quarter 1. After falling about 2.9% in Q1, and a modest return to positive territory in Q2, investment in innovation grew by around 4.6% in Q3 2. From a sector perspective, the increase in innovation investment was surprisingly broad-based.

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R&D investment grew by nearly 12% in Q4 of 2020?

Commodore Innovation

Research and development expenditure grew dramatically in Q4 of 2020—by nearly 12% compared with Q3. However, just three sectors accounted for most of that growth: pharmaceuticals, biotechnology & medical research, and software & IT services. Excluding these three sectors, R&D expenditure still increased, but at a more modest pace of around 3.5%.