COIN releases 2013 Colorado Innovation Index
Tuesday August 27, 2013
DENVER -- As part of Innovation Week in Colorado, the Colorado Innovation Network (COIN) has released the second annual innovation report, detailing innovation activity in Colorado.
Last year, the first-ever Colorado Innovation Index took a comprehensive look at how the state was creating an environment in which innovation, entrepreneurship and job creation can thrive. This year, the report is a deeper dive into potential opportunities for Colorado to maintain and increase its innovative competitiveness, COIN said.
"We know that innovation is key to economic growth," said Catherine Grassman, COIN's executive director. "This report provides a deeper analysis of the previously issued index and identifies challenges and opportunities for Colorado in advancing our position as the most innovative state in the nation.
"It also brings to light certain initiatives or trends that are already occurring that support and enhance our future innovative competitiveness."
Similar to the 2012 report, this year's report evaluates innovation performance in Colorado across four categories: entrepreneurship, talent, ideas and capital.
Highlights of the report:
* Colorado ranks above the national average in terms of breadth of entrepreneurship among both the self-employed and small business, but has not followed the national trend of increased non-employer establishments.
* Colorado continues to be competitive in a number of employer firms, but the birth size of these firms is declining.
* Colorado, along with other peer group states, is slightly below the national average in terms of small business survival rate. However, the state continues to perform well in terms of small business measures, scoring high relative to the nation and the peer group with respect to entrepreneurial returns and returns to labor.
* Colorado continues to boast a highly educated workforce and experienced an increase in STEM degree attainment.
* Colorado continues to exceed the national average in terms of public funding for research and development, but private business contributions are below the national average.
* Capital trends for Colorado vary among debt, equity and public equity.
To view the entire report, visit here.
COIN worked in partnership with a research team at Colorado State University, sponsored by Colorado Chief Innovation Officer and Dean of CSU's College of Business Ajay Menon and advised by Stephan Weiler, in preparing the report.
"Colorado State University is delighted to sponsor the Innovation Index," said Menon. "The research findings underscore the growing potential for innovation successes in the state of Colorado. It is clear that we have the base infrastructure of talent and ideas that will benefit from access to capital."
COIN was launched by Gov. John Hickenlooper in 2011 to make Colorado the most innovative state in the nation and is a public-private partnership housed in the Colorado Office of Economic Development.
For more information about COIN, visit www.coloradoinnovationnetwork.com.
InnovatioNews
InnovatioNews is an online news magazine spotlighting innovative companies, products and people in Colorado. Launched in June of 2012, the site is the recipient of multiple awards.
IN Sponsors
Browse
Entrepreneurial by Nature
