It has been well-documented in the literature that innovation is a key driver of economic growth. When a business or sector innovates, it opens up new markets, drives down costs, and creates new opportunities for producing goods and services not only in a more efficient manner, but also in a more environmentally sustainable and ethical manner that is more aligned with changing consumer demands and habits. Innovation also often requires years of costly research, development, and testing before it yields any results. We have helped clients to understand these dynamics and refine programs to ensure they maximize innovation impacts and complement other sources of investment.
In the innovation sector, we have conducted program evaluations, including economic impact assessments, in order to identify the direct and indirect impacts of innovation and commercialization support programs.