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News & Press: Colorado Technology Industry

Report makes case for Colorado as innovation center

Wednesday, August 29, 2012   (0 Comments)
Posted by: Catharine Lurie
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Denver Business Journal by Mark Harden, New Media Editor
Date: Wednesday, August 29, 2012, 6:00am MDT

A report issued Wednesday marshals statistics to make the case that Colorado leads many states as a center for business innovation, but also pinpoints ways the state can improve.

The "Colorado Innovation Index” report from the new Colorado Innovation Network says only Massachusetts has a higher percentage of residents with a college degree.

It also says Colorado is among the nation’s leaders in patents, business-friendly tax structure, startup jobs, low living costs, desirability as a place to move and availability of private capital funding, among other yardsticks.

It says Colorado boasts several industry sectors associated with innovation, including aerospace, bioscience, medical devices, energy and information technology.

But it also says Colorado has "slipped significantly in educating its own homegrown talent,” that "net job creation has slowed significantly,” and that the "intensity” of research and development activity in the state "lags the nation.”

(The report can be accessed at the end of this article.)

The report is the first of what is to be an annual series from the Colorado Innovation Network (COIN), a public enterpriselaunched last Novemberby Gov.John Hickenlooperthat aims to increase the state’s reputation for innovative industries and spur economic growth.

"Innovation and entrepreneurship are critical to sustainable economic growth,” Hickenlooper said in a statement. "This index will give Colorado a true measure of the state’s industry-driven and overall innovation progress.”

The Innovation Index report was issued to coincide with thestart of COIN’s two-day summit conferencebeginning Wednesday at theDenver Art Museum.

Muhtar Kent, chairman and CEO of the Coca-Cola Co., will be keynote speaker at the summit.

Colorado State Universityeconomics professorStephan Weilerwas lead author of the report, and several other CSU researchers contributed.

>Click here to access the Colorado Innovation Index report.

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