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06 January, 2023
THE 2023 INNOVATION AGENDA

Wellspring published a report on the changes in the innovation agenda in 2022, discussing the impact of the pandemic and the inflation following it.

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Wellspring published a report on the changes in the innovation agenda in 2022, discussing the impact of the pandemic and the inflation following it.

A surprising conclusion is that in 2022, instead of a retrenchment, innovation plans became even more ambitious – and senior executives became even more committed to supporting an expanded innovation mission with a clear strategy.

The effect of inflation is similarly surprising, in that nearly a third of respondents (31%) expect that inflation pressures will make their company more willing to invest in longer-term, non-incremental innovation programs

A growing proportion of companies are implementing programs that seek to chart new territory in new innovation centers by building technology scouting programs, academic sponsored research programs, and other strategic innovation levers. These initiatives were driven by the accelerated pace of new technology introduction in the external ecosystem.

Most large companies would have seen such disruptive technologies as a threat. But the R&D and innovation leaders think differently now – they see growth opportunities sprouting up everywhere on the horizon. Also when it comes to innovation partnership it is clear that partnerships with large technology players, customer groups, venture capitalists, early-stage startups, and universities have become much more common.

For a more detailed analysis please look at the Wellspring report.