25 INNOVATION
SPENDS & TRENDS REPORT
SPEND
Did your innovation budget increase or decrease in 2022?
For a solid 2 in 5, budgets did not budge in 2022. But for over a third of the community, budgets were up. And for just slightly over 1 in 4, budgets did decrease-only roughly 11% of those
decreases being more than 10%.
Did you plan to increase or decrease your innovation budget in 2023?
For just over half of the group, innovation budgets seem to be on the rise for 2023. That stubborn 2 in 5 of remain the same,
remain the same. And less than 10% see 2023 budgets decreasing.
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