The Strategy, first issued in 2009, provides an overview of Administration efforts to ensure America continues to lead as the world’s most innovative economy, to develop the industries of the future, and to harness innovation to help address our Nation’s most important challenges.
For an advanced economy such as the United States, innovation is a wellspring of economic growth and a powerful tool for addressing our most pressing challenges as a nation – such as enabling more Americans to lead longer, healthier lives, and accelerating the transition to a low-carbon economy. In fact, from 1948-2012 over half of the total increase in U.S. productivity growth, a key driver of economic growth, came from innovation and technological change.
That’s why President Obama issued the nation’s first-ever innovation strategy in 2009, updated it in 2011, and is issuing a final update today. American scientists, engineers, and entrepreneurs invented the microchip, created the Internet, invented the smartphone, started the revolution in biotechnology, and sent astronauts to the Moon.