Breakthrough innovations fuel economic growth

| Prospects & Investment |

A report published by World Intellectual Property Organization was summed up with a clear message: technological innovation is indispensable for the development of the economy. It suffices to take into consideration the consequences of such inventions as antibiotics, planes, or semi-conductors used to produce computer processors.

New areas of business

The above-mentioned inventions provide examples of breakthrough innovations which paved the way for new areas of economic activity. WIPO report draws up parallels between those inventions and three more contemporary ones, which are still in the phase of initial development, but their potential application is immense. Those inventions include 3D printing, nanotechnology and robots. WIPO Chairman Francis Gurry is confident that they will fuel economic growth.

Innovation pioneers

Leaders of technological innovation come from the USA and Japan, supported by creative minds from Germany, the UK, France and South Korea. These countries own over 75% of patents in the above-mentioned areas of innovation. In this group, Japan has emerged as the leader in robotics, while the USA excels at developing nanotechnology and 3D printing. China is the only market challenger which might join the team of innovative countries, as a quarter of patents in 3D printing and nanotechnology have been registered in China.

Development factors

The report stresses the role of universities and research institutions in technological achievements. The cooperation between scientists and developers of new technologies is forecast to grow. Facilitating information exchange is another important factor boosting the progress of innovation. Better access to patents and the possibility of purchasing licenses enable modern technology to develop faster.

Chasing the leaders

At the same time, the developing nations have registered very few patents connected with the leading technologies, which is a reason to worry. Poland should interpret it as an incentive to facilitate information flow, and improve cooperation with scientific institutions. If we want a slice of the cake of profits from the development of 3D printing, nanotechnology and robotics, we need to give our economy a makeover.