When “Innovation” + R&D Taxes Are Worth More Than Incrementalism
Innovation is a completely loaded word these days, and more, undecipherable from the original definitions created by Joseph Alois Schumpeter in early 1900’s. Oddly these original Schumpeter definitions are the exact ones that firms are forgetting when discussing how they can further develop their organizations “innovation” competency as well as new product development pipeline. Why? Because innovation = disruption and that ruffles corporate feathers.
In an effort to bring this “innovation disparity” forward into the public eye as currently innovation disparity has become formally part of new tax credit systems specifically focused on increasing a firms ability to deliver necessary experimentation leading to new product enhancements, and eventually breakthroughs – the point and exact definition of innovation. As detailed in “The New and Improved R&D Tax Credit: The Tax Deal Manufacturers Will Be Celebrating for Years to Come” we see the underpinnings and full details of how innovators are taking advantage of this and as sanctioned by many governments worldwide.