Massachusetts Technology Collaborative Releases Innovation Index

The Massachusetts Technology Collaborative (MTC) released its second annual Index of the Massachusetts Innovation Economy earlier this month. The report tracks 31 performance indicators and explores the implications of each indicator on the long-term growth and stability of the Massachusetts economy.

Included in this year's report is an analysis of "the Dynamics of Innovation" using healthcare technology's contributions to the state economy as an example. The special section illustrates the interrelationship of the innovation process and many of the indicators used in the Index.

The MTC Index reports indicators from primary and secondary sources in nine key industry clusters, which represent 24 percent of the state's non-government employment and 35 percent of private-sector payroll. Eight of the measures are new this year for the Index.

The 31 indicators are divided into three sections. Resource Indicators measure the availability of technological, investment, human, and infrastructure resources that are needed to support innovation. Process Indicators measure idea generation, technology commercialization, entrepreneurship, and business innovation. The Results Indicators measure the business and human benefits of innovation and the Massachusetts' economic vitality.

For each indicator, MTC explains the significance of the measure, graphically presents the data, describes the state's performance, and interprets the implications of the indicator's trends for the Massachusetts economy.

At least three other states are active in measuring innovation indicators for their economies: Illinois has completed its study, while Kansas and Maryland analyses are presently underway.

Copies of Index of the Massachusetts Innovation Economy: 1998, a 44-page, full-color report, may be obtained for $20.00 from MTC via their website: www.mtpc.org or by calling 508/870-0312.