Innovation technology: How new innovations are changing the way we innovate

Governments and public institutions need to be ahead of the game in understanding changes in the innovation process and be fully aware of innovation technology and its potential.

A new set of technologies is emerging that enables firms to innovate more rapidly, efficiently and accurately than ever before. This 'Innovation Technology' (IvT) includes eScience, virtual reality, simulation and modelling techniques, and rapid prototyping.

Indeed, it is possible that it will have as profound an impact on economic growth and social well-being in today's knowledge economy as the development of machine tools had on the industrial economy of the mid-19th century.

Over the next decade, understanding what IvT does, how to use it and where its limitations lie will prove critical for those running businesses, working in firms and providing public services. As a result, government policy-makers at all levels would do well to appreciate its implications.

Published
September 2007

Author
David Gann and Mark Dodgson

Report
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