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Innovation Incentives PayInnovation Incentives Pay
Hewlett-Packard puts its money where it counts when it comes to technological innovations, and the tactic is bearing fruit.
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Hewlett-Packard puts its money where it counts when it comes to technological innovations, and the tactic is bearing fruit. Since the company launched its Invent campaign three years ago to spur innovation, its global patent application filings rose 30% in 2000 and 67% last year.
HP pays $175 to employees for submitting inventions and another $1,750 if it files for a patent on the idea, says director of intellectual property Stephen Fox. HP shelled out about $1.75 million last year for innovative ideas. That's a bargain, Fox says, to keep the innovation pipeline full.
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