COIN Releases Colorado Innovation Report

Press Release

As part of Innovation Week in Colorado, the Colorado Innovation Network (COIN) today released the third annual innovation report, "The State of Innovation: Colorado 2014 Report", which details Colorado's economic performance and the role that innovation plays in the economy's growth.

"Colorado is a leader in job creation, startup creation and economic growth, and innovation is a key factor in our success," said Governor John Hickenlooper. "The Colorado Innovation Report is an excellent means by which we can measure our progress and identify areas to further engage and elevate as we continue our mission to make Colorado the most innovative state in the nation."

The innovation index benchmarks the state of innovation in Colorado by measuring talent, ideas, capital and entrepreneurship, and compares Colorado to nine peer states that are leaders in innovation or close competitors with Colorado for new business: Arizona, California, Georgia, Illinois, Massachusetts, New York, North Carolina, Texas and Utah.

"The innovation index provides a meaningful assessment of the innovation landscape in Colorado," said Michelle Hadwiger, Executive Director of the Colorado Innovation Network. "It also serves as a platform by which academia, business leaders and policy makers can influence future outcomes for the prosperity of the Colorado economy."

Highlights from the 2014 Colorado Innovation Report:

-Colorado ranks among the highest of its peer group states for startup creation and job creation.

-Colorado companies are doing well at obtaining federal grants, yet they need to improve their ability to attract interest from the venture capital community.

-Colorado continues to boast a highly educated workforce and has experienced an increase in STEM degree attainment.

-Colorado has been successful in undertaking new research and translating that research into new findings with commercial potential.

To view the entire innovation report, visit http://www.coloradoinnovationnetwork.com/programs-initiatives/.

"The future economic growth of Colorado will depend on the state's ability to promote innovation in an environment conducive to its development and adoption. An organization like COIN will help the state achieve that," said innovation leader and COIN member Mitra Best.

COIN worked in partnership with consulting firm PwC and the Colorado Office of Economic Development and International Trade to create the report.

About COIN

COIN was launched by Colorado Gov. John Hickenlooper with the mission to make Colorado the most innovative state in the nation and is a public-private partnership housed in OEDIT. COIN is a network of global leaders that encourage relationships to support the innovation ecosystem, grow companies and create jobs.

To learn more about COIN, visit www.coloradoinnovationnetwork.com.

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