Business Growth Depends On Innovation, P&G CEO Tells Cincinnati

P&G CEO Bob McDonald told a Chamber of Commerce luncheon that the Cincinnati, Ohio, area lags in business start-ups and patents issued on a per capita basis and needs to ramp up spending on innovation. Business, financial and economic growth depends on investment in innovation by businesses and organizations, he said, and there’s no better time to invest than during economic downturns. He suggested several ways the region could foster innovation, including: speeding up start-up activity at research institutions, supporting collaborations with “pillar” companies, working together to strengthen support infrastructure, recruiting new talent, aligning public policy with an industry cluster strategy, and boosting investment in local start-ups. “It’s time to make Greater Cincinnati a leader … when it comes to innovation,” he said.