Why Innovation Economy 2020 Matters

By Ed Bernstein, IRI President

While sitting in a meeting about innovation on Capitol Hill, I noticed that the Congressional leaders in attendance agreed that no mechanism for establishing an innovation policy existed. I was struck by the oddness of this notion considering President Obama’s own “Strategy for American Innovation” report was issued back in 2011 and included rather clear recommendations about which policies addressed this topic. But I also saw this as an opportunity to expand the way these leaders thought about what represents innovation policy.

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MIT study vindicates ‘Innovation Economy 2020’ initiative

By Ed Bernstein, President, Industrial Research Institute

Researchers from the Massachusetts Institute of Technology (MIT) came to DC last Friday to deliver a report covering their research into our manufacturing sector. So what did they find? Unsurprisingly, they identified gaping holes in our industrial ecosystem that need to be filled with the right talent, the right infrastructure and the right incentives to make our manufacturing sector healthy again. Closely in line with IRI’s Innovation Economy 2020 initiative and position statement, the report offered solid data matching what IRI member companies have discussed at our meetings for at least a decade now. So what else did the MIT report provide that made it intriguing? For starters, it offered a useful comparison.

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