Equating R&D With Innovation May Understate Actual Spending - Innovate Forum An interesting set of stats from the Confederation of British Industry based on a survey of 750 UK companies in this report.
The major thrust of the report is that R&D spending as a whole is a misleading indicator of the real amount of money companies are really spending on "innovation activities" - 2% vs 12%. Suggesting that the western world is ever more looking away from the recent trend on relying on technology to provide new improvements in the marketplace - only 20% of companies agreed that all innovation is dependent on technology developments. The major force instead seems to be the Service industries - which currently accounts for 70% of the UK economy. Interesting stuff.