Innovation
Idea Generation
Inventive activity, an indicator of innovation, is measured by patents awarded to individuals and businesses and is used as a proxy for idea generation. Commercially successful inventions lead to gains in productivity.
Whereas research and development expenditures and patent applications are considered inputs to innovation and reported in the Research and Development subcategory, Idea Generation represents a step forward in the process of moving from basic research to a marketable product, and is classified as an output of innovation. The next step of the process, Idea Development, is another subcategory within the Outputs of Innovation category. The Idea Generation subcategory of the Innovation Indicators dashboard includes three measures of patents granted.
