To maximize innovation and growth, all of our brightest youth should have the opportunity to become inventors. But a study we recently conducted, jointly with Neviana Petkova of the U.S. Treasury, paints a very different picture. We found that a child’s potential for future innovation seems to have as much to do with the circumstances of his or her family background as it does with his or her talent.
In early 2018, the White House is slated to start work on the congressionally-mandated National Strategic Plan for Advanced Manufacturing. While manufacturing issues -- including trade, tax, and regulation -- have been a major focus for U.S.
The U.S. military is partnering with Silicon Valley to step up its game on the battlefield. The Defense Innovation Unit Experimental (DIUX), which is part of the Department of Defense, is connecting the U.S. military with companies developing leading-edge technology that would help it carry out missions quicker and cheaper.
On Tuesday, January 16, the United States House of Representatives passed H.R. 770, the American Innovation $1 Coin Act. The bill would require the Treasury to “mint coins in recognition of American innovation & significant innovation and pioneering efforts of individuals or groups” from each state, territory and the District of Columbia.
“DoD does not have an innovation problem; it has an innovation adoption problem,” reads one of the new recommendations from the Defense Innovation Board. It even has an “innovation theater” problem: the preference for small cosmetic steps over actual change.
Late last year, the Department of Commerce released numbers showing that foreign direct investment (FDI) in high-tech industries reached over $1.6 trillion in 2016 and supported 2.1 million jobs in the Un
The United States stands alone as the global leader in innovation. This is no accident. For decades, we have recognized the tremendous value of innovation and creativity and established a strong intellectual property (IP) system that consistently rewards, protects, and pushes the boundaries of future possibilities. This system attracted investment from markets with weaker protections and gave birth to the core driver, and future, of the U.S. economy.
With a GDP of nearly $19 trillion and a population in excess of 323 million, the United States is the largest consumer market in the world. As such, global corporations make doing business in the U.S. a priority. To take full advantage of this market, American and foreign companies must protect their proprietary innovations and inventions through patent grants.
Chinese companies have increased the number of U.S. patents they’ve received by tenfold in less than 10 years, another sign that the world’s second-largest economy is succeeding in its strategy to transform from Silicon Valley’s factory to a powerhouse of research. Chinese inventors received 11,241 U.S. patents last year, a 28 percent increase over the same period in 2016...
The lack of women in science and innovation fields is not simply a question of fairness or equality; it suggests that the economy is missing out on important potential for productivity growth. The fact that just 16 percent of patents are granted to women demonstrates in some ways how we may be leaving future Grace Hoppers out of the world of innovation and hence missing their insights and inventions.