Brisbane Innovation Scorecard, an initiative of Brisbane Marketing in collaboration with Deloitte, University of Queensland Business School, Brisbane City Council and Queensland Government, has been launched in Brisbane at the Lord Mayor's Leaders of Innovation luncheon.

Brisbane Innovation Scorecard, an initiative of Brisbane Marketing in collaboration with Deloitte, University of Queensland Business School, Brisbane City Council and Queensland Government, has been launched in Brisbane at the Lord Mayor's Leaders of Innovation luncheon with the majority of respondents saying they take an ‘open' approach to innovation to obtain ideas.

The Lord Mayor also announced the three winners of the Lord Mayor's Leaders of Innovation 2010 award, selected for their individual ability to enable innovation and create commercial value.

Based on a survey of 100 Brisbane businesses, the Brisbane Innovation Scorecard is a formal measurement and benchmarking tool of the city's commercial innovation capabilities. The findings will be used by businesses, academia and government to credibly position Brisbane as Australia's new world city, and to encourage the growth of commercial innovation.

Lord Mayor Campbell Newman said the Brisbane Innovation Scorecard has reinforced Brisbane's high commitment to innovation, but also brings additional insights into the strategies used by businesses. "It was pleasing to see that the majority of respondents take an ‘open' approach to innovation, sourcing their inspiration from customers (48 per cent), suppliers (36 per cent) and others to obtain ideas," Cr Newman said.

"Firms that used open innovation were more likely to be selling into international markets (17.4 per cent). In doing so, they have a higher capacity for growth and a higher dollar turnover.

"Through the Brisbane Innovation Scorecard, the city now has a credible measurement tool that helps to showcase Brisbane as an entrepreneurial, progressive, creative city that is open to collaboration and new world thinking."

Tim Biggs, Brisbane Managing Partner for Deloitte said: "Almost one third of Brisbane's businesses that responded to the Innovation Scorecard use innovation in their products, services, processes, systems and distribution channels. This is impressive.

"The more ways businesses in Brisbane can be innovative, the more likely it is that we will carve out an unassailable niche as a shaper of innovation for the nation.

"The Brisbane Innovation Scorecard 2010 establishes a benchmark for all of us to become better learning organisations, putting more investment into knowledge; to grow the virtuous cycle of innovation with customers and suppliers; and to strengthen our policies to foster growth and new markets."

The Leaders of Innovation event was also the platform to announce the three winners of the Lord Mayor's Leaders of Innovation 2010 award.

Selected for their individual ability to enable innovation and create commercial value, Lord Mayor Campbell Newman officially announced the following winners:

1. Stuart Pascoe, General Manager - Aluminium Boats (Product Innovation)
2. Brad Teys, Chief Executive Officer - Teys Brothers (Process Innovation)
3. Kostas Athanasiadis, Manager, Principal Process Engineer - GHD (Service Innovation).

"These individual award winners are perfect examples of Brisbane entrepreneurs who have personally embraced and adopted innovation throughout their business practices," Cr Newman said.

The winners were judged by Deloitte, Queensland Government, Brisbane City Council, UQ Business School and Brisbane Marketing.