Report Highlights Increased Open Innovation Activity

May 13, 2016 By IdeaConnection

innovationOpen innovation is thriving.  That’s one of the conclusions of the 2016 State of Innovation Report: Disruptive, Game-Changing Innovation by the Intellectual Property & Science business of Thomson Reuters.

This annual study is now in its seventh year and based its findings on research that looked at global intellectual property data.  This included worldwide patent application activity and scientific literature publications in 12 technology areas, such as aerospace and defense, automotive, biotechnology and oil and gas.

The report noted in particular “the increased comingling of multinational corporations and prolific scientific research institutions”.

One of the areas where open innovation is alive and kicking is in pharma, with the report stating that collaboration is a prerequisite for future pharmaceutical growth. It predicts that R&D models will increasingly involve partnerships between pharma companies as well as with suppliers and/or partners.

2015 was a Big Year for Innovation

The principle focus of the study, was as the title suggests, the state of innovation. And it reports that it is in rude health, claiming that 2015 was one of the most active years in history.

Among the key findings were:

Worldwide patent volume grew at an annualized rate of 13.7 percent in 2015, driving the overall growth rate for patents to over 100 percent since the State of Innovation study was launched in 2009.

Industries showing the largest growth in year-over-year patent volume were Medical Devices (27%); Home Appliances (21%); Aerospace and Defense (15%); Oil & Gas (14%); and Information Technology (13%).

To get access to the full report, click here.

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