Chamber: Universities fuel innovation engine

From: The Boston Globe

Massachusetts ranked first in the nation per capita for the total number of patents produced by higher education institutions - with a rate nearly twice as high as the next closest state, the Greater Boston Chamber of Commerce said.

That was one headline of Competitiveness Scorecard issued by the chamber. The scorecard aims to be a barometer of cost and competitiveness issues facing the Massachusetts economy and a comparison of how the commonwealth fares against the 49 other states. This iteration of the scorecard focuses on the role that colleges and universities in the state play on promoting and sustaining innovation.

Another scorecard finding: Massachusetts ranked third in the country in the total number of start-up companies created from university research and development; that suggests that the high patent numbers translated into a robust entrepreneurial market for the state, the chamber said.

The recession has hurt local colleges and universities, and a statement from chamber president and chief executive Paul Guzzi stressed the need to take action to protect this all-important engine of local economic growth.

"Massachusetts is clearly an innovation leader, and that strength is a testament to our colleges and universities," Guzzi said. "But the threats to our innovation engine are significant, and we must do everything we can to sustain our advantage." (Guzzi is shown at right in a Globe file photo.)

Among the measures the chamber recommends are sustaining the strong commitment to federally sponsored R&D and not taxing institutional endowments that continue to fuel research; promoting capital in Massachusetts start-ups; and strengthening higher education-business connections for talent development to keep college and university talent in the region. (Globe Staff)