Innovation is seen as a top priority for businesses, echoed by PwC’s survey of nearly 250 CEOs around the world, almost all of whom (97%) said innovation was their number one priority to stimulate growth.
Despite this, Europe is lagging behind the US, Japan and South Korea on private sector R&D spending, even though it has a large reservoir of talented workers and successful companies. At the end of 2014, Europe’s share of global patents fell to its lowest percentage ever, just 5.8%, far behind the US at 22%. - See more at: http://www.information-age.com/it-management/strategy-and-innovation/123459997/can-formal-council-innovation-help-turn-europe-innovation-factory#sthash.NpFyrq80.dpuf
