international

With a new approach to supporting innovation by pursing business-led initiatives focused on better meeting private sector needs, Minister of Finance Jim Flaherty presented Canada’s Economic Action Plan 2012, providing $1.1 billion CAD ($1.1 billion USD) over five years for direct R&D support. The budget also includes $500 million CAD ($502 million USD) to increase private sector investments in early stage risk capital and support the creation of large-scale venture capital funds led by the private sector.

Since the Great Recession, Government agencies in partnership with universities, for-profit and nonprofit other organizations have undertaken new efforts and developed new initiative to increase the number of small businesses in their region or state that are exporting and increase the value of exports for those small businesses that are currently exporting. The Small Business Administration announced the second round of funding for its State Trade and Export Promotion Grant (STEP) Pilot Grant Initiative. The Development Corporation announced Pure Michigan Export Now pilot program. The Brookings Institute announced Metropolitan Export Initiative in four metropolitan areas.

Ownership of intellectual property (IP) rights has become central to the strategies of innovating firms worldwide, according to The Changing Face of Innovation, a new report from the World Intellectual Property Organization (WIPO). Researchers contend that rapidly growing global investments in innovation and the globalization of economic activities are key drivers of this trend. Between 1980 and 2009, global patents rose from 800,000 applications to 1.8 million. During this time, international royalty and licensing fee revenue increased from $2.8 billion in 1970 to $27 billion in 1990, and to approximately $180 billion in 2009 outpacing global gross domestic product (GDP). These results have led to the emergence of new market intermediates (e.g., IP clearinghouses and brokerages). The researchers also contend that this trend will move IP policy to the forefront of innovation policy.

To rebound from the global recession, the United Kingdom will focus on transforming their cities in to powerful, innovative 21st century cities according to a new economic growth plan from its coalition government. The government already has taken several steps towards making their cities "engines of growth" including:

After its first year of work, India's National Innovation Council has released a report on development of a long-term innovation roadmap. The keystone of this strategy is a Rs 5000 crores ($968,615,000 U.S.) India Inclusive Innovation Fund to support small businesses, paired with an Industry Innovation Cluster Initiative. The report provides background on other Indian initiatives, such as the pilot University Innovation Cluster at the University of Delhi, the country's twenty Design Innovation Centres and the new State Innovation Councils.

The European Union has implemented 30 of the 40 Innovation Union commitments according to State of the Innovation Union, a comprehensive progress report on the Innovation Union, the European Union's (EU) flagship initiative under the Europe 2020 growth strategy for the decade. By the end of 2011, the European Commission will have passed all six Innovation Union legislative proposals. The report highlights several of the new initiatives including the first Innovation Partnership in Active and Healthy Aging; the European Institute of Innovation and Technology; and the Smart Specialization Platform. However, the EU still has more to achieve including strengthening efforts at a national level to prioritize investments in research and innovation and set aside dedicated budgets to public procurement of innovative products and services.

"Fast-growing economies in emerging markets are outpacing more developed countries with respect to investment in innovation," according to Encouraging and Protecting Innovation — a new report from PricewaterhouseCoopers (PwC). A PwC researcher compiled the report utilizing survey data collected from over 200 global executives who attended the annual meeting of The Wall Street Journal CEO Council. The report points out that Asia's emerging markets, mostly due to China, already invest more on R&D than the EU and Japan, respectively.

This week (Nov. 14-20, 2011), more than 25,000 organizations in 123 countries will host events celebrating entrepreneurship and connecting entrepreneurs to potential mentors, inventors, collaborators and peers. Global Entrepreneurship Week (GEW) activities include Startup Weekends, in which groups come together to create a new business in three days, startup competitions and showcases, social entrepreneurship forums and venture capital summits. First organized in 2008 with support from the Kauffman Foundation, GEW activities have spread around the globe and will this year include the participation or support of U.S. President Barack Obama, UK Prime Minister David Cameron, Israeli Prime Minister Benjamin Netanyahu, Canadian Prime Minister Stephen Harper, and many other international heads of state.

The European Union (EU) released its first competitiveness report on all 27 EU member nations and six associated countries — Innovation Union Competitiveness Report 2011. Providing a deeper perspective on European R&D intensity, the report is intended to monitor the progress towards EU and national R&D headline targets and provide economic evidence and analysis to underpin the development of EU and national innovation policies. Twelve key findings are highlighted within the report including:

The Canadian government must focus its research and development (R&D) support efforts on "the goal of growing innovative firms into larger enterprises, rooted in Canada but facing outward to the world and equipped to compete with the best," according to Innovation Canada: A Call to Action — a new report commissioned by the Honorable Gary Goodyear, the Canadian Minister of State for Science and Technology. The authors contends that Canada has a solid foundation to build its knowledge economy. The country maintains several strengths including a strong financial sector, "attractive" corporate tax rates, a diverse, well-educated workforce and significant natural resource endowments. However, they cite empirical evidence that shows Canada lagging behind other highly developed countries including the U.S., several European Union members and some East Asian countries.