Index finds strengths, weaknesses in Colorado's 'innovation' economy
Those are two of a number of findings released Wednesday by the recently established Colorado Innovation Network, in what was billed as the first-ever state report detailing innovation activity in Colorado.
The Colorado Innovation Index offers what is supposed to be a comprehensive look at how Colorado is creating an environment in which innovation, entrepreneurship, and job creation can thrive.
The Index was released Wednesday as part of the inaugural Innovation Summit, designed to bring together "action-oriented" leaders in the Colorado community and from around the globe to help elevate the state's innovation climate.
"Innovation and entrepreneurship are critical to sustainable economic growth," said Gov. John Hickenlooper in a news release. "This index will give Colorado a true measure of the state's industry-driven and overall innovation progress."
The Index evaluated innovation in Colorado across four categories — ideas, talent, capital, and entrepreneurship.
> Colorado continues to exceed the national average for STEM (Science, Technology, Engineering, Mathematics) degree attainment.
> Colorado trails only Massachusetts for having the most workers with a bachelor's degree or higher in the nation.
> The nonprofit and university sectors in Colorado contribute an above-average amount to expenditure in R&D, but overall R&D intensity lags the nation.
> Colorado outperforms many benchmark states in patents, issuing over 450 patents per million residents in 2011.
> While Colorado has a high prevalence of self-employment establishments, they are only average in terms of entrepreneurial returns.
COIN was created in November 2011 to connect and convene innovation leaders across Colorado's public, private, and academic sectors.
The report can be found on the COIN website.
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