The Deloitte Innovation Survey 2015
How companies in Luxembourg define and implement innovation
Our first Deloitte Luxembourg Innovation Survey focusses on how companies in Luxembourg define and implement innovation, find a forum for innovation, involve customers in the innovation process and collaborate with start up companies. The survey also provides a view on how Luxembourg promotes, drives, and incentivises innovation.
This survey was addressed to CEOs and CIOs of local companies, ranging from start-ups to large companies, from various industries such as financial services, technology, media & telecommunications, life sciences, and healthcare, as well as from the industrial and commercial sector.
- One third of the companies involve customers at the conception phase of the innovation process but organisations also consult customer at the testing or prototyping phase as well as the pre-commercial launch
- The main reasons for innovation are company growth and differentiation from the competition
- Less than half of the companies have a well-defined action plan to execute and implement their innovation strategy, however half of the companies have a process in place for collecting innovative ideas
- 96% of respondents consider that innovation is part of the top five strategic priorities. Over one fifth of companies in Luxembourg classify innovation as a top priority
- Only one third of companies collaborates or considers to collaborate with start-ups or spinoffs for innovation or growth
- One out of three companies do create interactions between staff and senior management for generating innovative ideas
- Half of the Luxembourg based companies perceive innovation policy in Luxembourg as more conducive to better business in comparison to the policies of surrounding countries. 60% are asking for a reduction in the administrative burdens in Luxembourg’s innovation policy