Economy

One year after: Observations on the rise of innovation districts

In the year since we released “The Rise of Innovation Districts: A New Geography of Innovation in America,” Brookings has visited or interacted with dozens of leaders in burgeoning innovation districts in the United States and Europe. In so doing, we’ve sharpened our knowledge of what’s happening on the ground and gained some important insights into how cities and metros are embracing this new paradigm of economy-shaping, place-making, and network-building.

Biden: US, China must cooperate despite intense differences

Chinese Vice Premier Wang Yang said neither China nor the U.S. can afford a lack of cooperation or "all-out confrontation." He said the two-day dialogue would lay the foundation for a White House visit by Chinese President Xi Jinping, slated for September. Biden acknowledged that there will be intense disagreements, but added: "This relationship is just too important. Not only we depend on it, but the world depends on our mutual success."

Chinese firms are spending billions to mine America's research labs for ideas

Surging investment by Chinese companies in U.S. research labs is yielding a fast-growing trove of patents, part of a push to mine America for ideas to help China shift from being the world's factory floor to a driver of innovation. Largely absent from American research hubs a decade ago, Chinese firms including Huawei Technologies  and ZTE Corp are now using U.S. researchers to create patents ranging from new software to internet infrastructure, according to an analysis of Thomson Reuters' global intellectual property database.

America's growing cyber threat: Seven things we must do right now to protect US interests

Recently, there is strong evidence that the science of quantum computing can provide for the generation of truly random numbers. Once this technology has matured, it would greatly reduce, if not eliminate, the likelihood of hacking into any system. There is also strong evidence that the technology could actually be put on a chip. Fortunately, the U.S. Air Force Research Laboratory (AFRL) has done a great deal of research and work in this area.

Northrop CEO: Defense R&D Investment Lags

The US ranked sixth in the world in the 2014 Global Innovation Index, with China far behind at 29th, Bush said. But from 2009 to 2012, China's defense R&D spending as a percentage of its GDP rose by about 18 percent annually as China's overall economy grew by 9 percent annually. Over the same period, the US GDP grew by a modest 1 percent, but defense R&D spending shrank by about 7 percent each year.

U.S. Needs to Encourage Entrepreneurship, According to Latest Northwood University Economic Outlook

When Northwood University economist Timothy G. Nash listened to keynote speaker, Presidential hopeful and former Hewlett-Packard CEO Carly Fiorina at the recent Michigan Chamber of Commerce Foundation dinner, he was struck by her message of business invention and innovation. Her address got him thinking. "Too often, many lump the concept of invention under the umbrella of innovation," says Nash, vice president of Corporate and Strategic Alliances at the Midland, Michigan-based university. "By doing this, you lose the key distinction between the two concepts and, in the process, the cornerstone of the American economy since its inception.

Life sciences challenge tech in global innovation

With more patents applied for or granted in 2014 than in any other year in history, humankind has never been more inventive, whether in designing driverless cars, discovering new drugs for cancer or building bionic limbs. But growth in innovation has nonetheless slowed, with worldwide patent volume up 3 percent last year, the smallest annual rise since the end of the global recession in 2009. Previous years have seen near double-digit percentage increases.

Neil deGrasse Tyson's answer to innovation stagnation: a space race to Mars

In the search to find the high-paying jobs and industries of the future, Neil deGrasse Tyson has an idea for a novel solution. How about a militarised space race to Mars? More specifically, the famed American astrophysicist says that if he could just get China's leaders to leak a memo to the West about plans to build military bases on Mars, "the US would freak out and we'd all just build spacecraft and be there in 10 months".

PLTW Engagement Team Leaders Discuss STEM Education on The Seth Leibsohn Show [Audio]

Two Project Lead The Way (PLTW) team members – Senior Vice President & Chief Engagement Officer David Dimmett and Engagement Team Vice President, West Region Susan Castillo – recently appeared on the Seth Leibsohn Show to discuss science, technology, engineering, and mathematics (STEM) education and its impact on workforce and economic development, community, national security, and more.

Permanent R&D credit critical to jobs, innovation

It seems the Research & Development Tax Credit (R&D Credit) is always the bridesmaid and never the bride.  Since its enactment to encourage U.S. investment in research, the R&D credit has been extended 16 times, oftentimes retroactively, and even modified over the years.  Notwithstanding this volatile history and strong evidence of the need for innovative research it has never been made permanent.

Sparking US Government Engagement in Global Entrepreneurship

The latest of these efforts is called SPARK. Last week, the President encouraged “governments and companies and organizations and individuals to make their own commitments” to a new SPARK coalition to advance entrepreneurship around the world. SPARK will support his upcoming Global Entrepreneurship Summit (GES) in Kenya July 24 – 26, 2015 and rally support from governments and the private sector around the world to expand their investments of time, talent and treasure in their nascent and scaling entrepreneurs.

Driverless cars may cut U.S. sales by 40%, Barclays says

U.S. auto sales may drop about 40 percent in the next 25 years because of shared driverless cars, forcing mass-market producers such as General Motors and Ford Motor Co. to slash output, a Barclays Plc analyst said. Vehicle ownership rates may fall by almost half as families move to having just one car, according to a report published today by the analyst, Brian Johnson. Driverless cars will travel twice as many miles as current autos because they will transport each family member during the day, he wrote.

The 5 states that draw the most Chinese investment

A new report shows more than 80,000 Americans are employed by Chinese companies, up from 15,000 five years ago. Here's where those jobs are. Those numbers are according to a new report from the Rhodium Group, which keeps one of the most complete databases of Chinese foreign direct investment into the United States.

Nine Behaviors That Drive Innovation

Earlier this year the Conference Board released the results of a survey of CEOs to identify their most critical challenges. The hands-down winner was the challenge of human capital, especially leadership. Second was the challenge of innovation. For every region of the world, innovation was among the top five issues identified. Asia placed it first.

Spaceport America Goes to Market Enabling Low-Cost Access to Space

“Spaceport America is enabling low-cost access to space for people who want to change the world,” said Christine Anderson CEO Spaceport America. “In parallel with its core aerospace business activities, Spaceport America is rolling out a diverse portfolio of non-aerospace revenue streams designed around the brand attributes people associate with the promise of commercial space, while providing economic stimulus for New Mexico and STEM education for future generations.”

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