60% of companies banked on ‘innovation’ during the pandemic, but will they see results?

VentureBeat September 24, 2021
VB Staff

Despite plans to increase their innovation budgets in the midst of the growing COVID-19 innovation push, a majority of businesses are set to see their investments squandered due to their own internal organizational shortcomings, according to new research by Wellspring.

While 60% of respondents reported that their corporate innovation budgets were expected to increase — with many of those polled saying they expected a significant rise in investment — several persistent organizational flaws and cracks are set to undermine this investment surge and result in huge financial waste. For example, per Wellspring’s findings, a mere 6% of C-suite leaders believe that a lack of C-suite engagement in innovation is a “very significant” impediment to Innovation Ops success, versus a third...

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