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Is the UK bad at innovation?

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Graphene is the miracle material invented in Manchester University in 2002, but have failed disastrously to capitalise on this discovery ever since, as competitors have filed countless patents for its use in mobile phones, computers etc.

Why does this happen? Is the UK that bad in turning innovation into sell-able products? Michael Kitson, senior lecturer at the University of Cambridge states that it’s all related to which definition of innovation you might be working from, as innovation is a lot more than just R&D and patents.

To help resolve this issue he identifies a need for the creation and development of knowledge networks, between businesses, hospitals and universities. It’s the diffusion of ideas that has the biggest impact on growth and productivity.

This is an idea we can get behind! Watch the FT video for more commentary on the matter.

To learn how idea management can help your business, download our Beginner’s Guide to Idea Management.

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