ArtVersion Featured in The Innovation Research Program by The Economist Magazine

For any company, innovative ideas are the catalyst that enables businesses to thrive, grow, and succeed. Yet, to truly tackle challenges with innovative thinking, especially so, in a digital age that is constantly transforming, there are many factors that play into it. The Economist Group developed the Innovation Quotient, an independent research program that fosters innovation for socioeconomic progress. ArtVersion was honored to be a part of this program and share their insights. Within the research findings of the Economist Impact, there were 122 metrics that accelerate or hinder a nation’s impact on innovation growth, and along with a survey taken by innovators and business leaders, there was a lot to uncover. 

The best practices that help accelerate innovation include, fostering the workforce for the future, supporting innovation hubs, uncovering the link between innovation and demographics, and many more aspects. For the best practice that zoned in on the importance of greater collaboration, alignment, and inclusion, ArtVersion’s Principal and Creative Director, Goran Paun, chimed in with his expertise.  

“Co-creation and co-authorship, or collective design more broadly, is key. A greater leveraging of partnerships in molding creative processes for the ultimate goal is needed. Especially among competitors, there should be more peer collaborations and sharing.”

The ArtVersion team, well-versed in collaborative methodologies understands the importance of the impact internal and client collaboration can emit. Aligning on projects is a driver for seamless design progress and reduction of overhead costs for stakeholders. Even more so, as the Innovation Quotient called attention to cross-sector collaboration in an iterative trajectory—the backbone of ArtVersion’s approach to design. Collaboration with clients and different sectors of their team has been a predominant cornerstone throughout their 25 years in the industry. 

“When we collaborate in iterative sessions, it leads to continuous innovation. There’s a reassuring confidence that the project is advancing at the ideal pace toward completion with each refinement. The blend of diverse perspectives both internal and external, is the key element that truly brings the project together, ensuring a well-rounded outcome,” says Megan Lewis, ArtVersion’s Design Lead. 

The team has also long advocated for collaboration in methodologies as seen in their insights platform, VERSIONS. propelling collaboration is what can drive innovators to find new ways to utilize technology and fresh perspectives for experiential designs and digital products. This correlates with the insight the Economist shared that collaboration can create a deeper understanding of challenges and opportunities that may go unnoticed in siloed groups.

Emphasizing collaboration and its inextricable link to innovation is one of the many perspectives and best practices industry leaders today should not overlook. It is fundamental for growth and the refusal to remain stagnant in a fast-paced digital world. 

ArtVersion Designer, Edward Marshall added, “Our processes involve conceptual, contextual, iterative, and experiential ways of design thinking. However, I truly believe great ideas thrive in the iterative part of a project because collaboration becomes centerfold and creativity flourishes.”

The ArtVersion team was honored to be a part of The Economist’s research findings. To read the full report, read more here.