This report has been produced by NESTA - the National Endowment for Science, Technology and the Arts.
A key component of the report is NESTA’s Innovation Index, which measures the investment in intangible assets and demonstrates the importance of these investments in driving economic growth.
The key findings of the report are:
- Despite a 2.5% fall in business R&D in 2009, businesses continued to spend £15.5bn. This represents 1.1% of UK GDP
- Investment in intangibles was £140bn in 2008, 14% of private sector output. These investments accounted for nearly a quarter of average annual labour productivity growth between 2000 and 2008.
- Overall innovation accounted for 63% of labour productivity growth over the same period.
- Government investment in R&D was valued at £9.4bn in 2008/9 This report is a comprehensive review of the key elements for innovation in the UK, including its contribution to economic growth, the UK research base and the activities taken by business to build competitive advantage.
Further Information
2010 Annual Innovation Report