Innovation, Creativity and Research & Development (R&D)

Wednesday 26th April 2006 is World Intellectual Property Day - an occasion to reflect on the role played by intellectual property in stimulating & safeguarding the forces of innovation and creativity. Research & Development (R&D) is the activity of both innovation and creativity. R & D is an extremely important activity as this is where you gain the edge and differentiate against competition. At its peak, a whole new market can be created –

"Value innovation is about making the competition irrelevant by creating uncontested market space. We argue that beating the competition within the confines of the existing industry is not the way to create profitable growth." W. Chan Kim and Renee Mauborgne, Blue Ocean Strategy

So what sprouts innovation and creativity? and what drives R&D? The simplest and hardest answer is this year’s WIPD theme: ‘It Starts With An Idea’.