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DEC 2007

Billion Dollar Innovation

A Finnish study profiled twelve U.S. companies to give insight on how successfully applied service innovation can bring in the big bucks

BusinessWeek, December 7, 2007 — Some months ago, I got a call from Peter Westersträhle, science and technology attaché at the Embassy of Finland in the U.S., explaining that his country wanted to become one of the most competitive service economies. Tekes, the Finnish Funding Agency for Technology & Innovation, and both the thought leader and first mover in the development of European service innovation policy, had established in March, 2006, a €100 million initiative, "Serve," to study and support service innovation. Tekes is now busy sponsoring research, funding projects, and fostering collaborations among business, government, and academia around the world in order to support innovation in Finnish service industries.

Working closely with Tekes staff, our assignment was to develop a dozen case studies profiling innovative U.S. service companies that yielded insight and examples for how innovation had been applied to bring about new value.

Category: Innovation
Tag: Services

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