Without innovation, companies quickly lose their competitiveness. Danish companies are very effective innovators and Denmark ranks second in the 2015 edition of the Innovation Union Scoreboard from the European Union. There is always room for improvement, though, and Danish companies continue to sophisticate their processes.
In the newest edition of the Innovation Union Scoreboard, a comparative assessment of research and innovation performances in Europe, Denmark ranks second among all EU member countries. In the assessment, Denmark is specifically recognized for easy access to open and excellent research environments and for the innovative abilities of small and medium-sized companies.
The assessment distinguishes between three types of indicators: enablers, firm activities, and outputs, and eight different innovation dimensions, capturing a total of 25 different assessment indicators, ranging from human resources and research systems through investments, entrepreneurship, intellectual assets, and more.
Research drives innovation
The Danish research and innovation performance has been steadily increasing up until 2014. Performance relative to the EU has increased from 25 pct. above the EU average in 2007 to 33 pct. in 2014. As the only country in the assessment, Denmark has been able to steadily improve its research and innovation performance consecutively throughout the eight years of assessment, having improved in 17 of the 25 assessment dimensions since the 2014 edition.
Performing above the EU average in all 25 assessment indicators, Denmark is an innovation leader among EU countries. Most notably in entrepreneurship, excellent and attractive research systems, finance and support, and intellectual assets. Denmark also performs very well in areas of research, PCT patent applications, and public-private partnerships.
New model to boost innovation
To help companies identify areas of potential improvement of the innovation process, the interest organization for 10.000 private businesses in Denmark, Confederation of Danish Industry, has designed a simple innovation model, which describes the five phases of a typical product innovation process, from customer conceptualization, technology assessment, idea conceptualization, product development, and market introduction. The aim is to give companies a practical tool to achieve more coherence in different phases of the innovation process and to guide companies towards an understanding of the success criteria in order to achieve the highest possible pay-offs and effects of innovation.