NJBIA Policy Analyst Nicole Sandelier shows why venture capital investment is essential to the success of the innovation ecosystem in this short video, the first of a series of 12 highlighting the findings of NJBIA’s recent Indicators of Innovation report.
The state’s ongoing efforts to restore New Jersey’s stature as an innovation leader prompted NJBIA to take a deep dive into the data to see how the Garden State compares to other states in the region. NJBIA analyzed 12 separate indicators of innovation in three major categories that are essential ingredients in a thriving innovation economy – capital, talent and business climate.
The report found that, overall, New Jersey is lagging behind in the region that includes New York, Massachusetts, Pennsylvania, Maryland, Delaware and Connecticut. In the key indicator of venture capital investment, which is crucial for bringing innovative ideas to the global marketplace, New Jersey increased its investment levels at a lower rate than any state in the region between 2004 and 2017.