How do you set up innovation teams for success? And how can those teams create quantifiable impact for their organization?

These are the key questions we explore in this report (and in our 2020 and 2018 editions). We gathered quantitative survey data from 216 respondents in Q4 2022, and interviewed top leaders from organizations like Mastercard, Colgate-Palmolive, Illumina, Kimberly-Clark, and NASCAR.

The report explores team sizes, reporting relationship, use of physical innovation spaces, common activities, budget dynamics, top innovation challenges and enablers, and more.

For this report, we used an airplane’s cockpit as a visual metaphor. Most big companies operate like airlines: they seek efficiency, reliability, safety, and profitability. Most innovation groups inside them are trying to discover potentially appealing new destinations, find new kinds of customers, design and test different aircraft, and rethink the boarding process. All can potentially create significant value — but in turbulent times, there’s always the temptation to throttle back on all that newness and exploration. What we found in our surveys and interviews was that in 2023, innovation survives if there is a clear vision; quantifiable metrics and outcomes; a culture that can make decisions and allot resources without getting embroiled in politics and turf wars; and strong relationships throughout the organization.

This 55-page report will help you continue to build your innovation capabilities and move your organization forward.

This report was sponsored by KPMG and produced by InnoLead.

Sample Data

Insights from the Interviewees


“Innovation needs to be embedded in your culture… You have to measure it at some level, because what you don’t measure, you don’t care about.”


Ken Moore
Chief Innovation Officer


“The biggest challenge is to meet the needs of consumers for better products…but doing that in a way that also reduces our environmental impact.”


Robert Long
Chief R&D Officer


“Our CEO would say the recipe for success is pretty clear. When you’re looking to get into a new line of business, acquire your way in — and then invest like mad.”


Steve Dertien
Chief Technology Officer

Thought Leadership
In a Digital World, In-Person Innovation Still Has Value
As the debate on the future of work continues at many companies, KPMG’s Nicole Lord and Mike DiClaudio explain why purposeful in-person collaboration can help move innovation forward.
On-Demand Webcast
Master Class: Fresh Benchmarking Data on Corporate Innovation
February 21, 2023
Hour-long webcast replay that explores data highlights from the research report Benchmarking Innovation Impact 2023, including data on team size, budget expectations, and innovation challenges.
Thought Leadership
Don’t Assume Your CEO Shares Your Innovation Vision
Improving alignment around innovation is an urgent priority. Asking the following six questions of your CEO can be a great starting point.

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