Booz & Company's Annual Innovation Report Out Today

Posted by: Reena Jana on October 21, 2008

The fourth annual survey on the top 1000 corporate R&D spenders from Booz & Company is out today—and it includes some nuggets that offer insight on how the US measures up against other nations.

The study finds that the U.S. received more money from foreign corporations to develop products than any other nation in the last year. So other nations are outsourcing Americans to innovate.

Compared to last year’s Global Innovation 1000, this year’s list collectively spent US$492 billion on R&D in 2007. That’s 10% more than in 2006. This suggests that companies are — or were, at least —committed to innovation spending.

And what about China and India? Together Chinese and Indian companies account for just 1% of the total spending by the Innovation 1000. Still, companies based in these two nations saw their R&D investments increase by 22%. For context, the international compound annual growth rate was just 5.6%.

The findings will also be published in a detailed article in the winter 2008 edition of Booz & Company’s Strategy + Business .

Reader Comments

Rgk

October 28, 2008 8:53 AM

"The study finds that the U.S. received more money from foreign corporations to develop products than any other nation in the last year."

America needs some innovation in teaching journalists how to write.

This sentence is bullocks. Foreign corporations are from other nations.

This makes no sense.

Reena Jana

October 28, 2008 9:51 AM

Thanks for the comment, RGK, and we certainly appreciate careful readings of our posts. But to clarify, the sentence does indeed make sense and reflects proper grammar. And in fact it also reflects the actual language used in the Booz & Company study. But to address any misunderstandings: the report looked at how nations all around the world received R & D investments from companies based in other countries, i.e., foreign nations. And then the Booz & Company authors compared these data. They discovered that more than any other country in the world, the United States received more R & D investments in 2007 from foreign countries than did any other nation.

Yzhel Velina

June 22, 2009 1:55 AM

I research about the 1000 top companies in the world

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