Thinking about developing a new product idea?
Well if you are based in the UK, you are in the right place. According to the 2022 Global Innovation Index, the UK ranks fourth in the world for Innovation, behind Switzerland, the US and Sweden. In terms of Scientific and Technological intensity, Cambridge was joint first globally and Oxford wasn’t far behind. In another recent study, London was the number one global destination for investment in technology over the past few years. It was followed by Singapore, Dubai, New York and Tokyo.
UK innovation was at the centre of previous industrial revolutions and these latest reports are a strong indicator that innovation still remains one of the UK’s greatest skills.
A nation of thinkers and tinkerers
We are a nation of design thinkers and habitual tinkerers. Great ideas come from good observations and the UK is full of people who observe their surroundings and notice improvements. Whether at work, raising families or enjoying hobbies, we can’t resist the urge to explore better solutions that improve lives, protect the planet and give meaning to what we do. This national pastime could also be the key to the UK’s future success.
Innovate to a brighter future
The UK faces tough economic challenges ahead as it grapples with the financial fallout from Brexit, the pandemic and the war in Ukraine. But our collective strength in innovation offers us a path to a brighter future. It is a key driver of economic growth and helps create well-paid jobs. Innovation can create a virtuous cycle; it leads to increased productivity, which leads to more resources for innovation which leads to higher productivity and so on. Not all ideas are destined to change the fortunes of the UK, but with enough good ideas making small improvements, we could be in for an exciting decade ahead.
Ready to help?
Start exploring the potential of your idea – book a confidential idea review with one of our Innovation Advisers.
What's your idea?
If you have an idea you would like to explore, it could be a good time to do it. According to Bill Gurley, one of the most respected tech investors – “The truth is that if you’re going to build something from scratch, this might be as good a time as you’ve had in a decade”.
We can help you explore the potential of your idea. Book a confidential idea review and one of our Innovation Advisers will talk through your options which might include IP protection and prototyping.