Innovation
Inputs to Innovation
According to the Council on Competitiveness, "Successful innovation, and the increased productivity and prosperity that results, is the output of the dynamic interplay of a variety of regional factors." These inputs to innovation include human capital, research and development, the composition of the industrial base, financial capital availability, infrastructure measures, and costs faced by individuals and businesses. While the development of the Innovation Indicators was considerably influenced by the basic regional innovation indicator framework established by the Council on Competitiveness, the choice of specific indicators and data reflects a broad review of the literature. Progress over time on these indicators will help create and maintain an environment conducive to innovation.
