About the Fact of the Week
Each week, ITIF publishes a fact about innovation in our newsletter. Here you will find an archive of previously featured facts.
Featured Fact of the Week
- Accessibility (1)
- Broadband (7)
- Competitiveness (20)
- Cybersecurity (1)
- Developing Economies (2)
- E-Government (2)
- Economic Theory (3)
- Education & Training (9)
- Energy & Climate (11)
- Health IT (2)
- Intellectual Property (8)
- Internet (20)
- Life Sciences (4)
- Manufacturing (9)
- Privacy (1)
- Productivity (6)
- Science and R&D (21)
- State and Local (2)
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- Trade (26)
- Transportation (1)
- Wireless (4)
10 Most Popular Facts
1. China's engineering degrees were about 10 times the U.S. number and represented a much higher share of all bachelor's degrees (30%) than in the United States (5%).
China awarded 300,000 bachelor's degrees in the natural sciences and 700,000 in engineering-together representing 43% of its 2.3 million total in 2008. China's engineering degrees were about 10 times the U.S. number and represented a much higher share of all bachelor's degrees (30%) than in the United States (5%). The gap in education in STEM fields from U.S. to China is only growing...
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 because it allows other organizations to make use of...
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 through well-organized national innovation systems that...
4. China has increased its solar PV global export market share from 2% in 2000 to 54% by 2011, even though U.S. solar PV are 5% more cost competitive than Chinese products before subsidies.
From 2000 to 2011, China increased its global solar PV export market share from 2 percent to 54 percent. This remarkable export growth, in addition to significant deployment subsidies in the United States, has helped solar PV costs decrease 75 percent in the last 10 years. But what’s the character of that cost decline? According to a recent McKinsey study a...
5. If the United States were able to close the gap between its educational achievement levels and those of better-performing nations such as Finland and Korea, U.S. GDP could be as much as $1.3 trillion to $2.3 trillion higher.
A series of McKinsey Global Institute reports find that a lack of innovation and productivity growth in four critical sectors--education, health care, government, and national infrastructure--are holding back broader economic growth. McKinsey's 2009 report, The Economic Impact of the Achievement Gap in America's Schools, finds that the educational achievement gap between the United States and its...
6. If current R&D investment continues at the current level, the R&D investment deficit will grow to $2.6 trillion by 2021.
If federal R&D investment had been sustained at the 1960-1980 level, in terms of an average share of GDP, these investments would be approaching $230 billion annually today, rather than the current levels of roughly $150 billion. Our robust investment in R&D in the 1960s, 70s and 80s fueled our post-war prosperity and helped set the stage for the IT revolution, advances in biotech and...
7. Germany invests 20 times more, as a share of GDP, in industrially-relevant research and development than the U.S.
Germany has adopted an overall innovation stratergy in recent years which explains why Germany has weathered the Great Recession better than the United States. Germany decided to bring government and private companies together to proactively restructure its manufacturing base instead of waiting for market forces to magically arrest the decline. The German companies that are succeeding in the...
U.S. manufacturing value added has still not recovered from the Great Recession. In fact, excluding computer and electronics, from 2007 to 2012, real value added produced by durables manufacturing fell by 2.9 percent while non-durables fell by 10.6 percent. Meanwhile, economy-wide real value-added has grown by 4 percent. The lag of manufacturing growth behind overall economic recovery...
9. Over the past six years (FY 2008 to FY 2013) China has invested twice as much in new, medium and long-term export credit as the U.S. in current dollars, and almost four times as much as a share of GDP over this period.
Despite the critical role export credit financing plays in helping to boost America's exports and empower its traded sector competitiveness, virtually all U.S. competitors are investing significantly more as a share of their GDP than the U.S. in providing export credit assistance in the form of loans and guarantees to help foreign buyers purchase their nations' products and services. This...
10. In 2013, 1 billion prescriptions, or 58 percent of all prescriptions, were routed electronically.
E-prescribing cuts medical transaction costs by eliminating the need for confirmation phone calls and faxes, and reduces health risks associated with prescription delays. In 2004, over half of states had legislation banning e-prescribing. Today, all 50 states allow it, and many have begun to actively promote the practice. In 2011, Minnesota became the first state to pass an e-...