Dr. Stephan Weiler, a professor of economics at CSU and founding co-director of the university's Center for Research on the Colorado Economy, led the team that produced the Colorado Innovation Index this year for the governor's Colorado Innovation Network, or COIN. The first of its kind in Colorado, the index offered a look at how Colorado is faring in creating an environment in which innovation, entrepreneurship and job creation can thrive. In an interview with the Business Report, Weiler expounded on his research, offering insight into the state's strengths and weaknesses, and what the future looks like for Colorado innovators.


Question: How would you define innovation?

Answer: For the purpose of the index, we had to be very specific; you need a clear definition before you can measure it. We've designated it as a product, process or service that generates new value in the marketplace.

For this to happen, you need ideas, talent and capital. You need talented people coming up with innovative ideas that have access to early-stage capital.

There are a lot of innovations out there, whether in the form of ideas or patents. But the fact that there is a lot out