The Innovation Review has reported on numerous economic development resources and programs in New York State. It can be difficult to gauge how much impact these investments have had in New York’s innovation economy. Anecdotally, the New York State Science and Technology Law Center has seen a rise in projects both requested and undertaken. While correlation does not necessarily imply causation, data from the State Science and Technology Institute (SSTI), a national nonprofit organization that seeks to lead, support and strengthen efforts to improve state and regional economies through science, technology and innovation, has shown a marked growth in New York State in the areas of venture capital and intellectual property.
Change in US Venture Capital Investment Dollars over five years (2008-2013)
NY: 88.78%
CA: -1.53%
MA: -9.91%
RI, SC, ND, ME, DC, SD only states greater growth %
Change in US Venture Capital Investment Deals over five years (2008-2013)
NY: 51.72%
CA: -5.61%
MA: -20.97%
MI, OK, RI, TN, NE, DC only states greater growth %
Change in share of Total US Venture Capital investment dollars over five years (2008-2013)
NY: 4.70%
CA: 0.48%
MA: -0.86%
Change in number of Utility Patents by State over five years (2008-2013)
CA: 88.69%
MA: 82.28%
NY: 73.78%
Number of utility patents in 2013:
CA: 36,193 utility patents
NY: 8,489 utility patents
MA: 6,409 utility patents
Top 100 Patenting Universities 2012 (NYS has 9):
Columbia: 78 patents in 2012
NYU: 61 patents in 2012
Cornell: 55 patents in 2012
SUNY: 46 patents in 2012
University of Rochester: 27 patents in 2012
Rensselaer Polytechnic Institute: 16 patents in 2012
Rockefeller University: 15 patents in 2012
Yeshiva University: 13 patents in 2012
CUNY: 6 patents in 2012
Data sets used for information:
Utility and Design Patents by State, 2008-2013
U.S. Seed and Early Stage Venture Capital Investment by State, 2008-2013