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Global Confidence in Innovation Holds Despite Economy
Date:1/29/2009

South America Tops List, Europe Trails in Expanded IIIP Innovation Confidence Index

San Francisco, CA (Vocus) January 29, 2009 -- The public's inclination toward innovative products was largely unaffected by the drop in consumer confidence last year, according to the 2008 IIIP Innovation Confidence Index that was expanded to cover every region of the world and released publicly today.

The survey also found that societal values are more important than individual demographics, such as age or education, in predicting whether local consumers will accept innovative products. For example, a middle-aged non-entrepreneur in a traditional society like Colombia is significantly more likely to believe new products or services will improve his life than a young Finnish entrepreneur.

"Worldwide, we found that people's confidence in innovation seems to be independent of whether the economy is going up or down and that people in countries with more traditional social values are more likely to welcome innovation. The IIIP Innovation Confidence Index is the only clear snapshot of consumers' receptivity to innovative products, and findings like these provide important insights for developing global marketing strategies," the report's author Dr. Jonathan Levie of the University of Strathclyde in Glasgow said.

The annual survey commissioned by the Institute for Innovation & Information Productivity (IIIP) shows a dip of just 1 percent on average in consumers' openness toward innovation across the seven countries sampled in both 2007 and 2008. Comparatively, overall personal confidence in local economic conditions d
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