Massachusetts and California ranked at the top for innovation competitiveness when compared to other US states and 203 states in Europe and Latin America, according to a new study.The study looked at 13 economic indicators across a state’s knowledge economy, globalization and innovation capacity. Other US states ranked high as well, including Washington and Maryland.
States and regional economies need “robust innovation strategies to thrive in the fiercely competitive global marketplace,” said Stephen Ezell, vice president of global innovation policy at the Information Technology and Innovation Foundation, which made the rankings in partnership with other think tanks in the Global Trade and Innovation Policy Alliance.
The groups made two studies: one compared US states with 71 European states in several countries, while the second study compared US states with 132 states in several Latin American nations.
ITIF used to study to make several recommendations to policymakers. They urged regional markets, such as states, to open their markets to a global scale to create competitive ecosystems. In addition, they urged support for local research and development, as well as patent application. And, they promoted the regional innovation hubs program, an initiative in the CHIPS and Science Act.
Ezell urged policymakers to pay special attention to underdeveloped or lagging regions. In the US, Mississippi, West Virginia and Alaska lagged below the best-performing Latin America regions, while Mississippi, West Virginia, South Dakota and Arkansas finished in the bottom 10 rankings when compared to other US states and states in Europe.