Monday, October 27, 2008

Rankings in State Investment in Technology

I've written about state rankings from the Milken Institute before. Here's another one, called the State Technology and Science Index. Published last June, this is their third version of this survey (they do it every four years).

The survey attempts to rank each state by its level of investment and commitment to high technology and science. To understand how they do this, it's easier to quote from their site:

"The State Technology and Science Index looks at 77 unique indicators that are categorized into five major components:

* Human Capital Investment
* Research and Development Inputs
* Risk Capital and Entrepreneurial Infrastructure
* Technology and Science Work Force
* Technology Concentration and Dynamism"

As you'll notice, New York ranks 15th in their list. This is where we ranked in 2004. Massachusetts ranks 1st, and they've held that spot in each of these surveys.

If you click on New York on the map, you'll see a breakdown of where we rank among the five components listed above. Notice that our worst showing (29th) is in the category "Technology Concentration and Dynamism". This is where you'd learn how New York has been doing in terms of enabling the startup - and survival - of high-tech businesses.

I dug a bit deeper into this, and noticed that we rank 44th in terms of "Net Formation of High-Tech Establishments per 10,000 Businesses" since 2002. You can understand, then, how improving this statistic is a motivator in the state political world, and how improving this ranking can become the focus of great policy within SBA & the SBDC community.

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