Home > DCU Ryan Academy for Entrepreneurship, Propeller Venture Accelerator > Rumours of Death of US Innovation Greatly Exaggerated

Rumours of Death of US Innovation Greatly Exaggerated

General Electrics “Global Innovation Barometer”  has come out which puts the US firmly at the top of innovative countries. The GIB polled 1,000 senior execs from 12 countries, so this isn’t some sort of ‘one hand clapping’ from US industry. Here is the list:

1. U.S.A. (67 percent)
2. Germany (44 percent)
3. Japan (43 percent)
4. China (35 percent)
5. Korea (15 percent)
6. India (12 percent)
7. Sweden (8 percent)
8. U.K. (7 percent)
9. Israel (6 percent)
10. France (4 percent)

With all due respect to China’s (and indeed India) rising power, I am reminded of the situation in the 1980’s where everyone said that by the 1990’s we would all be speaking Japanese, bowing to each other, and singing Japanese-style corporate songs before we started work each day. There is a reason why history is interesting. Unsurprising, 95% of those surveyed felt that innovation was the “main lever” in economic competitiveness. 88% thought innovation was the best way to create jobs

President Obama’s State of the Union mentioned ‘innovation’ several times and the reference to this generation’s “Sputnik moment” , and innovation in energy, is particularly interesting in terms of the current unrest in Egypt, particularly as most of our oil comes through the Suez canal….

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  1. February 3, 2011 at 11:18

    Hi Gordon
    Thanks for reassuring us that the US spirit of innovation is alive and well!
    I was also really glad to hear your comment on RTE Radio One’s Drivetime yesterday that emotional support is a key form of support for young entrepreneurs in particular. Thanks for putting this issue out there. You are absolutely right that Irish society is not always the best at providing emotional and moral support for our young entrepreneurs. What a contrast to the US where as you said, families and friends often come together to provide financial assistance for a family member who is starting up a business.
    A bit different from the Irish “When are you going to get a real job?” attitude! (not wishing to be cycnical, this is not always the case of course, but often is.)
    Thanks again for airing this issue.
    Orla

  2. February 3, 2011 at 21:06

    Thanks Orla

    With so many US companies here it probably isn’t bad for Ireland, just to be a little self-centred for a moment!

    My comments on Irish support have gotten a mixed response, some agreeing and some not, but like I said I am basing this on comments I have heard over the years from entrepreneurs, and some I got recently from a couple of younger people doing startups recently. I think once people realise that they are ‘serious’ about it (having raised money etc) Irish people are very supportive but in the early stages less so. For too many years ‘entrepreneurship’ for many people meant flipping a ‘low risk’ apartment in Bulgaria but thankfully those days are now gone!

    Thanks for the comments….

    Gordon

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