WalletHub recently published a report that detailed the most (and least) innovative states in America. Massachusetts ranked at the top. In this, they explain how “Innovation is a principal driver of U.S. economic growth.”
In order to determine where the innovation is coming from, WalletHub dove into “Human Capital” and “Innovation Environment.” From there, they dove deep into those segments by establishing 22 different metrics. For example, these metrics included science, math and engineering data for “Human Capital.” For “Innovation Environment,” areas like invention patents, entrepreneurial activity, and research and development were weighed.
The findings here actually compared 51 different regions as Washington, DC, was included. In fact, the district finished first. This poses an interesting question for Massachusetts’ official results.
Massachusetts Finished Second
Coming in with a total state innovation index score of 75.48, Massachusetts ranked #2 out of 51. However, this can be interpreted as the Bay State actually claiming the top spot when compared to the other 49 states in the country, specifically.
Breaking Down The Score
Massachusetts was the #1 state in the “Innovation Environment” category and the #2 state in “Human Capital.” In addition, here are some other areas where Massachusetts’ light shined bright. In the projected STEM-job demand by 2030 metric, Massachusetts tied for first. Next, we were third best in eighth-grade math and science. Finally, research and development spending by capital also saw Massachusetts tie for first, as did venture capital funding per capita.
WalletHub suggests that certain states in the country make innovation high on their economic priority list. “These states continue to grow innovation through investments in education, research and business creation, especially in highly specialized industries,” they said.
In Cambridge, the Massachusetts Institute of Technology shared information in their MIT News publication regarding the university consistently being recognized as one of the most innovative in the country. Furthermore, this outlet even has dedicated innovation and research sections on their site that provides detail on how MIT is strongly contributing to Massachusetts being one of the most innovative states in the country.