Why innovation and ICT are crucial
Innovation is vital. It’s vital for achieving success. It’s vital for economic competitiveness. It’s vital for solving the greatest challenges confronting our world today. Whilst innovation can take many forms, Information Technology and software nearly always has a critical role to play – not just as a source of innovation but as an integral part of the innovation process – from designing a new aircraft to the mapping and modelling of climate change and finding cures for diseases.
According to the EU i2010 report, ICT drives 25 per cent of EU GDP growth and 50 per cent of EU productivity growth; and according to the World Economic Forum, seven of the 10 most innovative ICT economies in the world are in Europe. These statistics demonstrate the importance of ICT to Europe and the potential economic advantage. But there are other benefits. Talented workers naturally seek challenging and exciting opportunities and travel to wherever these opportunities lie. Entrepreneurs build businesses where they can profit from their invention and innovation. Historically, innovation clusters such as Silicon Valley have enticed top talent from all corners of the globe but with an increased focus on innovation in Europe there is a greater incentive for workers to remain in or return to this region.
For large companies like Microsoft operating in Europe, innovation is integral to business success. Innovative ideas and research enhance products and offerings and it is only through innovative business practice that companies can respond to customer needs and competitive challenges. It is thanks to innovation that new business opportunities can be identified, whether that is an entirely new global sector (think of the rise of touch screen technologies) or an area of business that is new to a company (think of General Motor’s entry into world of electric cars).
Achieving business success through innovation doesn’t just benefit individual companies. It benefits Europe as a whole. Research company IDC shows that for every dollar Microsoft makes, the 250,000 partners in the Microsoft software ecosystem in Europe make $7 (these partners comprise 37 per cent of the total ICT industry employment in Europe).
We realise that the key to innovation lies in partnership and collaboration. Our researchers at Microsoft Research Cambridge, our pure research facility in Cambridge, UK, have worked collaboratively with 170 universities across the EU. Incredibly fruitful partnerships are continuously springing up between industry and academia and this should be encouraged.
There is a rich history of European invention and by working together in public and private partnerships in Europe, innovation can flourish in the 21st century and beyond
Innovation is vital. It’s vital for achieving success. It’s vital for economic competitiveness. It’s vital for solving the greatest challenges confronting our world today. Whilst innovation can take many forms, Information Technology and software nearly always has a critical role to play – not just as a source of innovation but as an integral part of the innovation process – from designing a new aircraft to the mapping and modelling of climate change and finding cures for diseases.
According to the EU i2010 report, ICT drives 25 per cent of EU GDP growth and 50 per cent of EU productivity growth; and according to the World Economic Forum, seven of the 10 most innovative ICT economies in the world are in Europe. These statistics demonstrate the importance of ICT to Europe and the potential economic advantage. But there are other benefits. Talented workers naturally seek challenging and exciting opportunities and travel to wherever these opportunities lie. Entrepreneurs build businesses where they can profit from their invention and innovation. Historically, innovation clusters such as Silicon Valley have enticed top talent from all corners of the globe but with an increased focus on innovation in Europe there is a greater incentive for workers to remain in or return to this region.
For large companies like Microsoft operating in Europe, innovation is integral to business success. Innovative ideas and research enhance products and offerings and it is only through innovative business practice that companies can respond to customer needs and competitive challenges. It is thanks to innovation that new business opportunities can be identified, whether that is an entirely new global sector (think of the rise of touch screen technologies) or an area of business that is new to a company (think of General Motor’s entry into world of electric cars).
Achieving business success through innovation doesn’t just benefit individual companies. It benefits Europe as a whole. Research company IDC shows that for every dollar Microsoft makes, the 250,000 partners in the Microsoft software ecosystem in Europe make $7 (these partners comprise 37 per cent of the total ICT industry employment in Europe).
We realise that the key to innovation lies in partnership and collaboration. Our researchers at Microsoft Research Cambridge, our pure research facility in Cambridge, UK, have worked collaboratively with 170 universities across the EU. Incredibly fruitful partnerships are continuously springing up between industry and academia and this should be encouraged.
There is a rich history of European invention and by working together in public and private partnerships in Europe, innovation can flourish in the 21st century and beyond
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Article by: R Forsyth
E: rforsyth@bpl.uk.com
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