Investing in Innovation

What’s been the return on investment for American innovation?

Investing in Innovation thumbLate last year, the National Institute of Standards and Technology, a division of the U.S. Department of Commerce, released a 135-page report describing progress to date on the Return on Investment Initiative for Unleashing American Innovation, which is designed to advance lab-to-market innovations.

The executive summary lists five strategies for maximizing federal investment in science and technology and enhancing U.S. global competitiveness. These strategies include identifying regulatory impediments, increasing engagement with private sector tech investors, building an entrepreneurial workforce, supporting technology transfer, and improving understanding of global science and technology trends.

The paper also recommends that the government build a more entrepreneurial workforce by strengthening the National Science Foundation’s Innovation Corps. I-Corps is a network of universities that teach business skills to teams of scientists and engineers.

Download “Return on Investment Initiative for Unleashing American Innovation.”