California’s innovation economy is considered to have the recipe for success. It has the technology industry base, talent, universities, entrepreneurs, and risk capital necessary to fuel economic growth. But what is the exact role of innovation in driving a successful economy, and can California continue to rest on its laurels to maintain its dominant position?
This is the subject of a recent study “California’s Innovation-Based Economy: Policies to Maintain and Enhance It,” which conducts one of the most thorough analyses of the landscape of research and development (R&D) spending in California. It also demonstrates the key role of R&D in the state’s economy, and proposes ideas for spurring businesses to continue and intensify their research activity.
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