Grant funding innovation has many advantages toward its customers, the larger market, and the economy itself. Nesta refers to innovation as the process by which ideas transfer into practical value in society: new goods and new services. There is a relationship between economic growth and innovation. Nesta’s research reveals that 2/3 of productivity growth in the UK was the result of innovation and innovative businesses are likely to have a high employment rate. Countries such as Finland and Korea, which take innovation seriously, tend to develop.
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