At the same time when many companies are taking into consideration onshoring operations to reduce risk, it is heartening to get data confirming that European countries is attractive to global innovators – both as an R& D destination and as a sizable, relatively-stable marketplace in its personal right.
Therefore , should innovative businesses be turning over onshoring or expanding their own R& D activities in the united kingdom in the months ahead?
Research undertaken jointly simply by European intellectual property company, Withers & Rogers, plus Econsight, confirms the high amount of patents filed in European countries between 2013-2019 and outdoor sheds light on the countries exactly where protection is most often searched for fast-developing technologies, for example sensors, battery tech, electronic health and AI and device learning. As business exercise starts to re-gain momentum, revolutionary owner-managed businesses and corporates could consider strengthening their own presence in this proven marketplace.
There is a lot to gain from onshoring creativity activity in the UK, due to its fantastic university-based research teams plus strong knowledge base. Entry to a depth and width of engineering expertise the actual UK an ideal base just for research programmes involved in early-stage design and prototyping. Additional reasons to locate R& M in the UK too. Particular advantages in areas such as pc science and software advancement mean many research researchers are used to sharing information on dispersed systems; a way of functioning that could become more common in the post-pandemic world.
One notable effect of Covid-19 has been the pace associated with R& D activity within areas such as pharmaceuticals, healthcare diagnostics, personal protective gear (PPE), decontamination systems plus mobility tracking technologies.
From an mental property (IP) perspective, companies have been looking for ways to bring their own innovations to market as quickly as possible simply by seeking provisional protection in an early stage. As lockdown restrictions lift, ‘fast followers’ will drive the next phase associated with innovation activity, capitalising upon market opportunities arising from the particular ‘new normal’.
Investment in innovation will stay critical for many businesses because they emerge from the pandemic. In some cases this could involve working collaboratively with tech innovators to find solutions to new issues.
For example , cosmetics and clothing retailers will undoubtedly be looking for ways to eliminate the need to put on garments, or apply services and products. Access to augmented reality (AR) and virtual reality (VR) technologies, many of which are market-ready, could deliver a substantial competitive advantage and improve customer experience.
For many businesses, innovative contactless payment systems and other technologies designed to facilitate social distancing and protect customers and employees, could see increased demand.
Technologies designed to build on existing communications platforms and facilitate remote working could help corporates and other organisations to over come the problems associated with social distancing in large offices. Innovation activity focused on adapting these technologies to solve post-pandemic issues is likely to remain a priority for quite a while to come.
As the pandemic has left its mark on many companies, there will be commercial opportunities for all those that stay focused on innovating the way to recovery.
Karl Barnfather is chairman of European intellectual property firm, Withers & Rogers . That he specialises in advising innovative businesses involved in the development of consumer electronics, computer-based technologies and
Choosing the right innovation destination is paramount to recoveryTagged with: BUSINESS NEWS • ECONOMIC NEWS • MAKE MONEY