Innovation to impact in a time of recession

Abstract

Whilst most people in developed societies would celebrate the route from innovation to impact, particularly in the context of engineering and biomedicine, it is not often acknowledged that the definitions of the start, mid-points and even end-points of that route vary between groups in society. Since that route requires funding, this variety of opinion leaves regions of the route vulnerable to underfunding, particularly in times of recession. This paper explores how this can lead to failure to foresee problems and underpin solutions on the 1050 year timescale. Furthermore, policies designed to support the route from innovation to impact can have the opposite effect. The route is illustrated with examples from the author's research. © 2011 IMACS.