Global Innovation Barometer 2012

Executives view innovation as a key driver of economic growth, job creation and rising quality of life, according to GE's global report on innovation.

Innovation key to prosperity

GE's second annual Global Innovation Barometer polled nearly 3,000 U.S. and foreign business executives in 22 counties. Survey findings show that innovation strongly correlates with economic growth and is a primary driver behind job creation and the rising quality of life across the globe.

The Barometer also confirms that while perceptions and models of innovation vary from country to country, across the globe, companies continue to move beyond the traditional, closed model of innovation to embrace a new model that fosters collaboration between several partners and tailors solutions to meet local needs.

Challenging economy adversely impacting innovation

The continued uncertainty of the global economy has had a marked impact on companies' ability to innovate, with nine out of 10 executives reporting increased difficulty accessing external funding or a conservative shift in appetite for risk. Specifically, 88% of respondents saw increased challenges accessing venture capital, private investment and government funding, while 77% reported a reduction or reevaluation of the company's willingness to take risks.

Trends in global innovation

View the full results of this survey, as well as a data visualization, and country-by-country analysis by visiting http://www.ge.com/innovationbarometer/ now.