This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Philips North America Innovation Report

Philips North America today announced the launch of the second annual Philips Innovation Fellows competition, in conjunction with the release of its 2014 North America Innovation Report. According to the report, nearly two-thirds of North Americans consider themselves innovators, of which a majority (72 percent) believe they are sitting on an idea for “the next big thing,” and just need money and ‘know how’ to develop it. The Philips Innovation Fellows Competition awards mentoring and $100,000 in cash prizes to inspire would-be entrepreneurs to bring their ideas to life by entering the competition.

“Philips is committed to meaningful innovation, and we strive to develop technology that makes a real difference in helping people lead healthy and fulfilling lives,” said Brent Shafer, CEO of Philips North America. “We believe impactful innovation can come from anyone, and we want to celebrate the great ideas that have the potential to revolutionize the way we live, work and play. That’s why we’re encouraging all innovators out there to submit their big idea for the next innovation.”

Survey Findings

Almost half of respondents feel the best innovations come from individual inventors (47 percent) and startups (24 percent), followed by academics (13 percent) and corporations (11 percent). However, one in two people said financial support from big companies is the key to achieving successful innovation, followed by mentor relationships (47 percent) and government incentives (44 percent).

Top Barriers

Many respondents feel that lack of money and a narrow mindset are the top barriers to preventing people from innovating, indicating the need for collaboration with and support from big companies:

• Lack of money (70 percent)

• Narrow/stifled mindset (41 percent)

• Unsupportive corporate culture (40 percent)

• Government regulations (37 percent)

Areas for Improvement

North Americans feel that successful innovation has a purpose beyond creating technology for technology’s sake. Sixty-two percent of respondents said successful innovation improves lives, makes daily life easier (57 percent) and meets an unmet societal need (33 percent).

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs