“Innovation” drives many economic development policies. The federal Small Business Administration recently awarded $100,000 grants to 20 organizations across the country, including Connecticut Innovations, Inc. to help them capture federal research and development (R&D) dollars.
Scientists often come up with new ideas, but many don’t know how to make them profitable. That’s why Canada just launched a $50 million program to teach recent college graduates how to start, organize, and manage businesses.
Today, anyone can copy your product or service, so protecting trade secrets is a hot topic. But there’s a downside to strict trade secret laws. A recent Congressional Research Service report explores their pros and cons.
Older industrial states see innovation as a key to maintaining or regaining their competitive edge. Michigan fosters innovation by helping groups of related businesses collaborate with each other. A recent study suggests this strategy works.
