It should come as no surprise to anyone following the global economy that when it comes to innovation and competition, America has lost that loving feeling. Numbers in key areas of innovation—percentage of patents issued, government funded research and venture capitalists’ investments—are all down. While some point a finger at a weaker economy, others look to poor domestic policy and increased global competition. Either way, American innovation is slowly fading on the global stage.
In the Huffington
Post this week, Arianna Huffington examined where the United
States ranks in terms of global innovation and competition—dead
last, according to the Information Technology and Innovation
Foundation. The percentage of patents issued to Americans dropped (down
2.3% in 2009), government funded research is down (now 27% from 50% in
1979), and venture capitalists aren’t investing as much in the U.S.
(down $12 billion in 2009 from $22 billion in 2008). Why? According to a
report
by the Boston Consulting Group, America is falling behind in several
areas key to supporting innovation—work force quality and economic,
immigration and infrastructure policies. The recent economic recession
and the loss of our educational edge are also cited as reasons for
America’s innovative decline.
To read the full, original article click on this link: Immigration Impact » Blog Archive » Immigration and the Future of American Innovation: Does America Need to Pump Up the Volume?
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