Success in the knowledge economy depends on working with the business environment and the available resources to generate successful new products and processes. The mechanisms through which this is achieved we refer to as the innovation process.� The innovation process indicators divide into four groups:

• Technology commercialisation � innovating to translate excellence in science into commercially successful ideas.

• Knowledge transfer � effective collaboration and information flows at all levels.

• Receptiveness to foreign ideas � alertness to the ideas of others and good access to worldwide sources of technical knowledge.

• Entrepreneurship � the ability to seize new business opportunities and implement them effectively.

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Last updated on 12 March 2002