Promoting innovation: Innovate or die

Abstract

The concept of innovation is analysed and misconceptions are condemned. The Rolls-Royce engine RB211 and the Pilkington glass float process are cited as profitable examples of British innovations. Intellectual property is considered as a tradable commodity in the form of patents which can be bought and sold. The need to communicate with the City of London is discussed together with the international context within which innovation operates. It is concluded that essentially innovation must be internally driven.