Various studies by institutions from around the world confirm almost 90% of businesses believe innovation is a priority for them. Further findings are:

While the 'closed' innovation model (doing it 'in-house') served organizations well in the past, more recently, several factors have undermined the logic of this model. The main factor is the increased mobility of the workforce. Bill Joy, founder of Sun Microsystems, is quoted as saying, 'Not all the smart people in the world work for you'.

It is becoming more difficult for businesses to retain their knowledge base, which impacts on their capacity to innovate. People with the skills and knowledge to innovate move about between employers. Because of this, it has become essential for businesses to use ideas from both inside and outside their organization to create and capture value for the business.

A key finding is that social media platforms are becoming a new source for innovative ideas. Consumers are providing ideas for products and services through these platforms.

New Ideas Weekly is a leading social media platform focusing on promoting innovation and business growth. Participating subscribers, who are consumers from all walks of life, share their knowledge and experience by giving their opinion on the market potential of new ideas featured in New Ideas Weekly.

The ideas featured are by private innovators from around the world. They own their inventions and not their employers.

The feedback by consumers adds significant value and helps entrepreneurs and businesses spot new ideas in New Ideas Weekly from outside their organizations that can provide them with new opportunities for growth.

New Ideas Weekly is playing a leading role in increasing awareness amongst businesses and the general public of the importance of innovation and how it benefits us all. We are also inspiring people to innovate.