How life sciences organisations can stop their best ideas from falling through the cracks
Our new innovation survey has found 83% of senior executives in life sciences say innovation is core to their organisation’s culture and mission.
In the report you will find that life sciences firms are not averse to taking risks in innovation. The clear majority (66%) of sector executives say their firms often back high potential but risky innovations. However, two-thirds of respondents have seen brilliant ideas fail
for reasons that could have been avoided.
In our experience, a siloed approach to innovation is unlikely to succeed. To deliver transformational results, innovation has to move beyond the R&D department and become firmly embedded in the culture of the organisation.
To achieve this, our research suggests seven recommendations that senior executives should consider to convert innovation investment into profitable return.
The report also covers:
- Our view of the innovation challenges that organisations face
- Cross-sector learnings for addressing the innovation drain
- Best practice examples from 24 interviews with innovation leaders
- Analysis by sector and key findings
- Analysis by country and key findings.