Every additional 10 million dollars (PPP) spent on research and development result in 2 patent applications per annum in average. The implication is based on the statistics on gross domestic R&D expenditures and number of patent applications to the EPO (European Patent Office) among European countries. Strong positive correlation between these two indicators shows that the more you spend on research and development the more considerable result you get. Thus, Germany, France, UK and Italy are leading countries both by R&D spending and number of patent applications. Moreover, it is significant both current R&D expenditures and expenditures incurred in the past providing evidence that R&D expenditures have lagged effect. Although patent applications statistics cannot be regarded as a perfect proxy of the country's knowledge power (as patent application itself may turn out to be unsuccessful) it, in some measure, is positively related with the wealth of a country.
Sources: UNESCO Institute for Statistics data, 2013, Patent applications to the EPO by priority year and NUTS 3 regions, March 2013
Research and Development (R&D) is the field of statistics comprising data on science, technology and innovation. This data is of great significance in the modern economy as it helps to build broad and comprehensive vision of innovation activity that is acknowledged by the most of developed and developing countries as the key driver behind the economic growth and competitiveness. That is why, policymakers try to induce innovation activity by focusing on the role of technology, information and learning in economic performance or, in other words, introducing the concept known as...
After two consecutive years of 9%+ growth, global R&D spending returned to the long-term growth trend and grew at 5.8% in 2013 to the highest total ever, $638 billion The top three industries by R&D spending continue to be Computing & Electronics, Health, and Auto The Software & Internet, Health, and Auto sectors accounted for 74% of the overall growth in spending; Chemicals & Energy decreased its R&D expenditures Spending in North America grew at an above average rate of 8.6% while Europe grew at a below average rate of 4.5%; Japan reduced its R&D...
Innovation Union Scoreboard (IUS) Index assesses 27 European countries on how do they perform in innovation sphere and its subdivisions. By monitoring innovation progress across the EU27 member countries, as well as Iceland, Croatia, Norway, Serbia, Switzerland, Turkey and the Former Yugoslav Republic of Macedonia IUS attempts to build strong base to policy discussions and decisions at EU and national level. Measurement framework of IUS embraces in total 25 indicators serving as proxies for 8 innovation dimensions grouped into 3 pillars. Enablers pillar captures the main factors of...
(17 March 2020) By the time a commercial product is launched on the market, it has already been patented for several years. Since innovative companies are more successful in the market, patent data can be a key indicator of innovation activity and therefore of market performance. According to IPR Strategies, patent shares perform better than an index. Analyses of equal-weighted MSCI World Index shares overall compared with Patent shares (the top 30%, by patent leverage, of MSCI World Index shares with significant patent value) have shown that using patent data generates...
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