in its broadest sense, is about improving performance by doing something
differently. Innovation is the successful exploitation of new ideas. It can
result in new technologies, new products and processes, novel services and means
of delivery, changes in business models, and the exploitation of new markets.
· Science and technology - the strength of the science base
is a key determinant of a country’s ability to generate new
· Technology commercialisation – innovating to translate
excellence in science into commercially successful ideas.
· Knowledge transfer – effective collaboration and information
flows at all levels.
· Receptiveness to foreign ideas – alertness to the ideas of
others and good access to worldwide sources of technical
Last updated on 21 October 2002