fact of the week logo image

As a share of GDP, state government support for university R&D is at the same level as it was in 1991, and only 9 percent higher than it was in 1970. As a result, the federal government must pick up the slack. Unfortunately, this action is not currently happening. In 2013, for example, the budget "sequester" slashed...

Manufacturing productivity growth in LAC countries over the past two decades has significantly trailed both that of developed economies and other developing nations (particularly Southeast Asian nations), in large part due to the slow rate of productivity growth among small and medium sized enterprises (SMEs). To address this, nations need to specifically improve innovation assistance services...

A 2013 McKinsey Global Institute report estimated that open data could add over $3 trillion in total value annually to the education, transportation, consumer products, electricity, oil and gas, health care and consumer finance sectors worldwide. 

Open data can be used to drive innovation within and beyond the organization that created it...

In 2012 renewable energy generated about 12 percent of total utility-scale electricity in the United States, and 19.5 percent of globally generated electricity. While the share of renewable energy resources in the electricity market is growing, the high costs of most clean technologies pose a challenge for further renewable penetration. New policies and investments are required to enhance the...

Sweden, Denmark and Finland finished first, third and fourth respectively in the Innovation Union Scoreboard 2013, a ranking of innovation performance of EU member nations. 

Over the last decade the Nordic nations have made great strides in improving innovation capacity and economic competitiveness. They have accomplished these goals...

Despite, or perhaps because of, the lowering but not elimination of tariffs, countries' use of non-tariff barriers (NTBs) is on the rise. Examples include: quantitative restrictions; price controls; non-tariff charges, unwarranted customs procedures; discriminatory health and safety standards; currency manipulation; discriminatory application of technical standards; and localization barriers...

Measured by R&D expenditures per employee, the U.S. biopharmaceutical sector leads all other U.S. manufacturing industries, investing more than ten times the amount of R&D per employee than the average U.S. manufacturing industry.

The Brazilian government must introduce policy reforms that will spur domestic innovation and entrepreneurship. A key area of focus should be the nation's outdated patent system. Currently it takes 5 to 8 years to be granted a patent in Brazil compared to an average of 3 years in the United States.

On average, the U.S. Treasury collects about $11 billion annually from oil and gas drilling on public lands; the majority of revenue, $6.6 billion in FY2012, comes from offshore leases. The United States must increase federal investment in critical energy innovation programs to drive down the cost of clean energy. ITIF proposes a potentially bipartisan solution: Congress can generate $1...

European growth lags U.S. growth, both before and after the Great Recession. Since 1996, productivity growth in the European Union has been 33% lower than the United States according to a recent survey by The Conference Board . A key reason is lower...