IRSUS is the perfect example on how the Innovation Radar tool can provide a myriad of significant insights about research and their market-results in the EU. Following our approach of understanding the innovators and their innovators we have come a little closer to the facts and running our own tests we have discovered very interesting points.
Running a word analysis in the innovation radar we have found out that “data is the king”. The most repeated word in the innovations’ description is DATA. Here is the top ten:
A country analysis of the organizations listed in the Innovation Radar can also provide interesting insights on where the innovation is happening in Europe.
As it can be seen, bigger countries count with a higher number of organisations listed in the radar. No surprises. Nevertheless, a more interesting number is the number of innovators per every 100,000 inhabitants in those countries. It is interesting because the results give a different approach from the usual one when talking about R&D. It is true that the Innovation Radar counts, at this stage, with a limited set of results listed, but significant enough to probably ask ourselves how close to the market are the efforts in different countries in research, or the real interest on the Framework Programmes in different regions of Europe. Data is here, you can extract your own conclusions. Results are below:
An interesting correlation between the expenditure on research in member states (% of GDP) and the above chart brings us some findings.
- Nordic and central Europe countries are in general balanced between expenditure and the number of innovations
- Some southern countries as Spain, Greece or Cyprus do not have a high expenditure in research but are above the EU average in innovations listed in the radar.
- Balkan, Baltic and CEE countries are below European averages
An important insight is also the number of SMEs holding innovations in the radar. The overall number of SMEs is 759, which stands for nearly of the 40% of the innovators. Divided by country this is the list.