GE “Global Innovation Barometer” Examines Innovation in a Volatile Global Economy

FAIRFIELD, Conn.--(BUSINESS WIRE)-- GE (NYSE: GE - News) today released the results of its second annual “Global InnovationBarometer” that confirm business executives’ belief in innovation as the main driver of prosperity, competitiveness and job creation, and also reveal how challenging and uncertain economic and political environments may hinder companies’ ability to deliver meaningful innovation.

The continued uncertainty of the global economy has had a marked impact on companies’ ability to innovate, with nine out of 10 executives reporting increased difficulty accessing external funding or a conservative shift in appetite for risk. Specifically, 88 percent of respondents saw increased challenges accessing venture capital, private investment and government funding, while 77 percent reported a reduction or reevaluation of the company’s willingness to take risks.

“This year’s study confirms a lot of what we’ve been seeing in the global marketplace, that the uncertainties inherent in today’s economic environment are challenging business’ ability to innovate,” said Beth Comstock, senior vice president and chief marketing officer of GE. “We see these results, in some ways, as a rallying cry for business leaders to understand where and how their innovation strategies are being challenged and to drive to new models. Innovation is a powerful lever to address the challenges of a growing world. It allows us to use resources more efficiently, produce more with less and deliver better technologies to help markets drive economic growth and better quality of life.”