American-Made Innovation Sparking Economic Growth

April 25, 2017
American-Made Innovation Sparking Economic Growth

This is the third Sparking Economic Growth report published by The Science Coalition. Each volume of the report has highlighted a different set of companies created from federally funded university research, totaling 302 companies to date. The reports are intended to showcase one of the ways that federal investment in basic scientific research helps stimulate the economy.

The initial federal research investment is small. Eighty percent of the companies in the report cited less than $5 million as the amount of federal funding received for their foundational work. For 40 percent of companies, this amount was less than $1 million. The 102 companies highlighted are predominantly small businesses, like most companies in the United States. Sixty-five percent of companies have fewer than 100 employees. Yet, the companies collectively employ 8,900 people.

Source: 
The Science Coalition
Share: