BOSTON, May 20, 2008 (PRIME NEWSWIRE) -- In a survey of professionals at Front End of Innovation 2008, 60 percent of respondents said they planned to spend more on innovation in the coming years. Front End of Innovation (FEI) is produced jointly by the Product Development & Management Association (PDMA) and the Institute for International Research (IIR), and the daily surveys are being sponsored by these two organizations, together with Sagentia (LSE:SGA).
Respondents overwhelmingly agreed that the best approach to building an innovation capability was one that combined an internal innovation change team with external parties, and 40 percent said that innovation is their company's primary focus.
Among other findings
- Respondents were split on the influencers of innovation, with 53 percent identifying the right process and structure, and 47 percent attributing this to a culture that lets "serendipity shine;"
- The majority of those surveyed said that emerging economies will influence innovation by increasing competition;
- Resources, executive support, time, culture and process were seen as the most significant barriers to innovation, far outweighing funds and lack of openness.
"We've partnered with IIR for six years on the Front End of Innovation, and it has been most successful," said Robin Karol, PDMA executive director. "FEI addresses one of the most complex areas of the innovation process, and it's great to get people together to advance the understanding of innovation. New to the event this year is corporate sustainability. The Front End of Innovation -- the start of the process -- is the right place to talk about these concepts."
Paul Fearis, president, Sagentia Inc. commented: "The Front End of Innovation conference allows Sagentia to extend its knowledge and strengthen its imagination through the exchange of ideas with the best of the best in innovation."
"This conference is providing some great stimulus and a broad offering of content and ideas," said Ian Douglas, director of innovation - brewing, Molson Coors Brewing Company. "It's great to get some truly useful information delivered in an engaging way by knowledgeable presenters."
"I was invited to attend Front End of Innovation as a member of the press to report on innovation practices that may have an impact on the environment, and I was able to assess, as well as ask pointed questions, to fine tune and expand on my knowledge of these pressing issues," said Gabe Crognale, ISO 14000 columnist for Business and the Environment newsletter. "Front End of Innovation is head and shoulders above other organizations that offer similar forums and I look forward to attending and actively participating in future events from the IIR and the PDMA."
About Sagentia
Sagentia creates, develops and delivers business opportunities, products and services for its clients.
Established in 1986, Sagentia operates in six global market sectors -- medical, industrial products, consumer products, chemicals, materials & energy, telecoms & media and public sector -- developing new technologies, products and services that change the basis of competition. The company also assists business leaders to create strategies for technology, innovation and growth.
Sagentia's resources are situated in state-of-the-art facilities in Europe, the USA, and China.
Sagentia is listed on the London Stock Exchange (Sagentia Group, ticker: SGA) and has more than 200 employees.
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