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II-SDV 2017: What is Innovation and how can we measure it?

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Innovation means many different things to many people. Ask five people and you will likely get ten answers. But all agree that it is a key driver behind the success of organizations, the growth of economies and provides major contributions in addressing global problems. This presentation will examine various analytical methods and possible metrics for measuring innovation and determining relative performance of organizations. The challenges involved in assessing innovation and how these can be addressed will be explored. The pros and cons associated with the metrics identified will also be discussed with a view to identifying a practical method for assessing innovation.

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II-SDV 2017: What is Innovation and how can we measure it?

  1. 1. What is Innovation? How can we measure it? April 2017 Bob Stembridge Senior IP Analyst Clarivate Analytics
  2. 2. 2 Agenda • What is Innovation? • Some potential metrics • Measuring Innovation • Nations • Government and academia • Corporations • Towards a practical benchmarking approach
  3. 3. 3 For Clarivate Analytics, Innovation is a Dominant Theme Common questions we are asked: • How does our research output compare to other groups and governments? • How do we ensure we are funding the best people, institutions and projects? • Where do we invest and focus resources? • How do we improve research decision making? • How can we secure more research funding for our institution? • How do we drive the most value from our IP assets and deals? • What should our licensing strategy be? • With whom should we partner? • How do we protect and improve our innovation rankings amongst global peer groups? • How do we brand our new invention and ensure we are free to use the brand globally? • How do we better align our approach to IP protection with our business strategy?
  4. 4. 4 We know it when we see it….but what is it? Innovation: “An innovation is the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relations.” SOURCE: Oslo Manual: Guidelines for Collecting and Interpreting Innovation Data, 3rd edition, OECD/Eurostat, 2005
  5. 5. 5 Innovation is more than discovery… • Innovation is often based on discoveries, inventions and translation • Academic research and education may support innovation but are insufficient by themselves to drive the process • The process of converting new ideas into commercially successful novel services and products is driven by entrepreneurship “The entrepreneur is driving innovation by combining assets, including technologies, in new ways, creating new opportunities, new markets, new economic values and […] the eagerness of millions of people as customers seeking to improve their lives….” Joseph Schumpeter
  6. 6. 6 The Lifecycle of Innovation The Lifecycle of Innovation comprises three elements: • Discover • Protect • Commercialise Each of these are valid areas to examine in seeking to understand the nature of innovation and may provide elements that can be measured to evaluate and benchmark innovation performance
  7. 7. Potential metrics
  8. 8. 8 Discover • R&D expenditure • Research articles published • Scientific publications • Conference proceedings • Number of ideas generated (invention disclosures)
  9. 9. 9 Protect • Patents filed • Patents published • Patents granted • Copyright • Trademarks • Trade secrets
  10. 10. 10 Commercialize • Patents granted • Trademarks • Brand • Royalty and fee trading • Venture capital financing
  11. 11. 11 Measuring nations
  12. 12. 12 European Innovation Scoreboards (2001 – 2009) Innovation Union Scoreboards (2010 – present) • Enablers: the basic building blocks which allow innovation to take place. • Firm Activities: which show how innovative Europe’s firms are. • Outputs: which show the benefits for the economy at • large.
  13. 13. 13 An Array of Indicators SOURCE: Dominique Foray and Hugo Hollanders, “An assessment of the Innovation Union Scoreboard as a tool to analyze national innovation capacities: The case of Switzerland,” Research Evaluation, 24 (2): 213-228, April 2015.
  14. 14. 14 Measuring Academic & Government Institutes
  15. 15. 15 Clarivate Analytics Indicators for World’s Most Innovative Universities Indicator Description Patent Volume The total number of patents by the organization Patent Success The percentage of the patent portfolio that has been granted Global Patents The percentage of the patents that have been submitted to global patent authorities (US, Europe, Japan) Patent to patent Citations The total number of times the patent portfolio was cited by other patents Patent to patent Citation Impact The average number of times a patent has been cited (half weighting) Percent Patents Cited The percentage of the patent portfolio that has been cited one or more times (half weighting) Patent to Article Citation Impact The average number of times an article has been cited by patents Industry Article to Article Citation Impact The average number of times an article has been cited by articles with an industry author affiliation Percent Industry Collaborative Articles The percentage of articles that contain a co-author from industry Web of Science Documents Journal articles indexed in Web of Science (articles and reviews)
  16. 16. 16 Citation Analysis to Identify Research Fronts… Co-citation analysis of the specialty structure of contemporary research Biological Sciences (March 2016) Rank Research Fronts Core Papers Citations Ave Year Hot Papers in Core 1 Isolation and characterization of Middle East Respiratory Syndrome coronavirus 47 3556 2013.6 1 2 Physiology functions of melatonin in humans and plants 37 2417 2013.5 2 3 Femtosecond x-ray nanocrystallography of biological macromolecules 23 2129 2013.5 1 4 Context-specific identities and functions of macrophages 21 3641 2012.9 0 5 Genome-wide analysis of genetic loci associated with Alzheimer disease 21 4815 2012.8 0 6 RNA secondary structure modeling 33 3683 2012.6 0 7 HIV vaccine design targeting trimeric envelope (Env) spike 32 6031 2012.5 2 8 PINK1-generated phospho-ubiquitin and Parkin induction of mitophagy 25 5749 2012.5 1 9 Metabolic regulation of T cells 39 5391 2012.5 0 10 C9orf72 hexanucleotide repeat expansion and frontotemporal dementia and amyotrophic lateral sclerosis 34 5354 2012.5 1 SOURCE: Essential Science Indicators
  17. 17. 17 ….And to Detect Emerging Research Fronts Emerging Research Fronts (March 2016) Rank Research Fronts Core Papers Citations Ave Year Hot Papers in Core 1 Long carrier diffusion lengths in organolead trihalide perovskite single crystals for solar cells 2 225 2015 2 2 Degradation dynamics of perovskite solar cells 7 160 2015 2 3 Genome-wide identification of CRISPR RNA-guided nucleases (RGNs) off- target effects 4 152 2015 2 4 Programmed cell death 1 (PD-1) inhibition for advanced non-small-cell lung cancer 4 146 2015 4 5 Botanical extracts and nanoparticles for mosquito control 12 132 2015 8 6 Gravitational wave detectors and simulations of observations 4 129 2015 2 7 Multicolor light-emitting diodes based on nanocrystalline perovskite 7 121 2015 5 8 Genome-wide association studies of obesity 3 119 2015 1 9 Environmental contamination and exposure of non-target organisms by neonicotinoids and fipronil 7 108 2015 2 10 Activation of mechanistic target of rapamycin complex 1 (mTORC1) 3 106 2015 0 SOURCE: Essential Science Indicators
  18. 18. 18 Measuring Corporations
  19. 19. 19 • Studies show that the majority of technological improvements that companies believe to be patentable and important are documented in patent applications • Therefore patents are a useful source of innovation indicators for Corporations • Various aspects can be measured  Volume (Portfolio size) • of applications • of grants  Ratio of grants to applications (Success)  Breadth of filing (Globalization or Market Coverage)  Citation impact (Influence or Technology Coverage)  Legal status  Remaining life • Innovation indicators differ by industry: Patents as Innovation indicators Company Industry Invention volume 2011-2015 Company A Telecommunications 25617 Company B Chemicals 6013 Company C Pharmaceuticals 2418
  20. 20. 20 • Inventions vs patent document count Volume Company Volume of inventions 2012-2016 Volume of patents 2012-2016 Ratio Company A 3665 36389 9.93 Company B 5169 33346 6.45 Company C 5679 56797 10.00 SOURCE: Inventions – Derwent World Patents Index (DWPI); Patents – Thomson Innovation Full Text collections Counting patents leads to variable degrees of double counting. It is better to count inventions.
  21. 21. 21 • Ratio of inventions with a granted patent divided by total number of inventions Success Company Volume of inventions 2012-2016 Volume of grants 2012-2016 Ratio Company A 3665 1605 0.44 Company B 5169 2923 0.57 Company C 5679 1938 0.34 SOURCE: Derwent World Patents Index (DWPI)
  22. 22. 22 • Ratio of inventions with patents published in multiple countries* divided by total number of inventions Globalization Company Volume of inventions 2012-2016 Quads 2012-2016 Ratio Company A 3665 1406 0.38 Company B 5169 605 0.12 Company C 5679 1283 0.23 * CN, EP, JP and US = Quadrilateral patents SOURCE: Derwent World Patents Index (DWPI)
  23. 23. 23 • Ratio of the number of citations (excluding self-citations) divided by the total number of citable inventions Influence Company Citable inventions 2012-2016 Citations (excl. self-cites) 2012-2016 Ratio Company A 3051 1759 0.58 Company B 4001 2332 0.58 Company C 4937 3423 0.69 SOURCE: Derwent Patents Citation Index (DPCI)
  24. 24. 24 Towards a practical benchmarking approach
  25. 25. 25 Putting it together Company Inventions 2012-2016 A Grants 2012-2016 B Quads 2012-2016 C Citable inventions 2012-2016 D Citations (excl. self- cites) 2012-2016 E Company A 3665 1605 1406 3051 1759 Company B 5169 2923 605 4001 2332 Company C 5679 1938 1283 4937 3423 Company Volume score VS= VM/Average VM Success score SS=SM/Average SM Globalization score GS=GM/Average GM Influence score IS=IM/Average IM Overall score OS=VS+SS+GS+IS Company A 0.76 0.98 1.58 0.93 4.25 Company B 1.07 1.26 0.48 0.94 3.76 Company C 1.17 0.76 0.93 1.12 3.99 Company Volume metric VM=A Success metric SM=B/A Globalization metric GM=C/A Influence metric IM=E/D Company A 3665 0.44 0.38 0.88 Company B 5169 0.57 0.12 0.21 Company C 5679 0.34 0.23 0.66 • Numbers • Ratios • Scores
  26. 26. 26 Relative performance in each metric 0,00 0,50 1,00 1,50 2,00 2,50 3,00 3,50 4,00 4,50 Volume score Success score Globalization score Influence score Overall score Company A Company B Company C
  27. 27. Final Remarks
  28. 28. 28 • The Kelvin Dictum: “If you can measure that of which you speak, and can express it by a number, you know something of your subject; but if you cannot measure it, your knowledge is meager and unsatisfactory.” — William Thomson (Lord Kelvin) • The Viner Dictum: “When you can measure it, when you can express it in numbers, your knowledge is still of a meager and unsatisfactory kind.” — Jacob Viner • The Knight Dictum: “If you cannot measure a thing, go ahead and measure it anyway.” — Frank Knight Is it Possible to Measure Innovative Capacity and Achievement? SOURCE: Robert K. Merton, David L. Sills, and Stephen M. Stigler, “The Kelvin Dictum and Social Science: An Excursion into the History of an Idea,” Journal of the History of the Behavioral Sciences, 20 (4): 319-331, 1984
  29. 29. Thank you
  30. 30. Bob Stembridge, Senior IP Analyst| +44-207-433-4690| bob.stembridge@clarivate.com | clarivate.com

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