Economy

Unlocking America's Innovation Warehouse

Over the past two decades, inventors have collectively spent $100 billion on patent filing and application fees and even more than that to maintain them over time. Yet, 95 percent of today’s 2.3 million active patents fail to earn even one dollar of licensing revenue, meaning they are not finding their way into the economy.

The Temporarily Shrinking Deficit

A congressional research service report predicts a return to a widening deficit and a level of debt that economists consider unsustainable. The first chart below shows the budget gap over the decades. The second shows historical and projected discretionary spending, including most federal R&D.

U.S. Commerce Department Invests $2.8 Million to Foster Innovation in Louisiana and Massachusetts

"The EDA investments announced today will support critical infrastructure and manufacturing projects that use innovation to help attract investment and create jobs in Louisiana and Massachusetts."

What if technological innovation is a job-killer after all?

Innovation is supposed to be the cure for economic doldrums. But what if it’s the cause?  More specifically: Is it possible that the ever-increasing automation of everything from factories to retail sales to journalism will destroy more jobs than it creates?

University of Maryland opens drone test site

University of Maryland officials on Tuesday announced the launch of a new test site to study how drones may coexist with jets, helicopters and other air traffic in U.S. airspace. The long-planned site is to be based near Naval Air Station Patuxent River in Southern Maryland.

Highlights from Brookings's Business and Innovation in Africa Event

Monday, Brookings hosted a forum of entrepreneurs and leaders in business, government, civil society, and media to explore priorities for U.S.-Africa policy; business strategies for economic growth and development; innovation and governance issues; and how Africa is perceived by the rest of the world.

Technology, skills moving auto industry forward and creating jobs

Grimy shop floors with man-powered assembly lines have given way to clean, high-tech centers where robots and Google Glass headsets are as common as air wrenches. And as innovation allows manufacturing to integrate technology, the skills needed to work in the industry are changing, too.

The U.S. Supreme Court Hopes To Limit Patent Trolling

In the wake of the U.S. Senate failure to address the problem of patents trolls legal experts begin to wonder if the courts are taking over where Capitol Hill failed. Unfortunately neither the courts nor legislators have yet directly addressed the looming specter of government sponsored patent trolls and their impact on global trade.

As U.S.-Africa Leaders Summit Begins, Key Members of Congress Say AGOA Must Be Reauthorized

As the U.S.-Africa Leaders Summit begins in Washington, DC this week, the Brookings Africa Growth Initiative has pulled together a high-level forum of leaders of entrepreneurs and leaders in business, government, civil society and the media to explore priorities for U.S.-Africa policy; business strategies for economic growth and development; innovation; governance; and shifting perceptions of Africa in the eyes of the rest of the world.

The Government Might Fund Your Idea Before Anybody Else Will

Sitting at the SBIR conference, I listened to agency after agency share their funding allocation for research and development. I couldn’t believe that these agencies were willing to pay for the infancy stage of innovation and kept pinching myself to make sure I wasn’t dreaming. Here are the five key things to understanding the SBIR funding program.

It takes a village to raise STEM talent

Experts say it’s up to the community -- businesses, colleges, high schools, parents, even politicians -- to stop the bleeding of STEM talent. It’s their collective job to own these kids and make sure youth get on the STEM path and stay there. And stay here after they graduate.

Can We Have Too Many STEM Workers?

Anyone who cares about the U.S. students studying for STEM degrees has to be shocked and alarmed that already, one-third to one-half of new IT jobs are filled by guestworkers. What will happen if industry gets its way and the number of H-1B workers from abroad doubles or triples, while other temporary and permanent visa categories are also expanded to appease tech companies?

Lessons On Innovation From Visionary CEOs

As CEOs seek to grow their business the answer often comes down to one word -- innovation. Innovation is the heart that pumps out new value to existing and new customers.

STEM education the key to success

It goes without saying that this new emphasis on technology means America now needs more qualified STEM professionals than ever, to push our economic growth forward and to create jobs for millions of others. According to data from the Department of Labor, 20 percent of all jobs in the United States in 2011 required STEM knowledge and qualifications.

Innovation Hubs Are Accelerating American Manufacturing

The administration said in 2013 that it hopes to eventually establish a network of 45 institutes across the U.S., up from its original goal of 15. Germany’s Fraunhofer Society, a similar network of 67 institutes, is a partial model for the U.S. initiative.

Pages

Contact Us