Creating Wealth from Knowledge

Creating Wealth from Knowledge

Meeting the Innovation Challenge

Edited by John Bessant and Tim Venables

This book illustrates that, although innovation has always mattered in economic development, simply increasing expenditure in creating knowledge may not be the answer: we need to look at the whole system through which such knowledge translates to value creation.

Chapter 2: Science and Technology in the UK

Pablo D’Este and Andy Neely

Subjects: business and management, knowledge management, organisational innovation, innovation and technology, innovation policy, knowledge management, organisational innovation


1 Pablo D’Este and Andy Neely INTRODUCTION Innovation is increasingly about managing flows of knowledge across complex – and often global – networks.2 The aim of this chapter is to provide a census of where the UK’s ‘innovation from knowledge’ (IfK) system stands in light of publically available data. Ongoing research will supplement these data with new data that will be incorporated into subsequent science base census publications to take account of global developments – for example the rise of China and India as economic powerhouses. At this stage, however, we are concerned with mapping out the UK’s current position and considering the implications of this for the policy and practitioner communities. 2. THE SCIENCE AND TECHNOLOGY PERFORMANCE FRAMEWORK This section focuses on the description of the indicators used to conduct the cross-country comparison, complemented with a brief discussion of the strengths and weaknesses of the indicators used, and a description of the data sources employed. Before addressing the main focus of this section, however, it is important to examine three issues underlying the indicators used in this chapter: (1) why a country focus?; (2) why yet another science and technology study?; and (3) does the chapter implicitly support the linear model of innovation? In an Increasingly Globalized Scenario, Why a Country-level Focus? While open research and innovation has led to an increasingly internationalized scientific and innovation system, there is no such thing as a ‘free lunch’ for innovative firms or countries. Countries need to sustain and nurture their science and technology...

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