A growing demand for new products and services continues

“Worldwide, firms face ever increasing pressure to accelerate their rate of invention and innovation in their products, services, and business models from:

• Customers craving a constant flow of new consumables.
• Competitors crushing profitable new releases.
• Governments grinding out new-economy regulations.

Technology innovation fuels economic growth across developed nations, having helped generate productivity gains for the past nine years. IT investments account for about 48% of all US productivity gains and 41% of Japan 's economic expansion since 1995

Over the past 11 years, innovation variables like private-sector R&D spending explained 35% of GDP growth in Organisation for Economic Co-operation and Development (OECD) countries.

Firms that successfully meet the demand for innovative products and services enjoy greater revenues. And these revenues fund increased R&D, which, in turn, drives more innovation — and so the cycle continues.”

Radjou, Navi; Forrester Research Inc., Innovation Networks, June 2004