Milken Institute Ranks Utah Sixth in Nation for Innovation Capacity

November 24, 2020

The Milken Institute 2020 State Technology and Science Index ranks Utah #6 in the nation for its knowledge economy and capacity for innovation – same ranking as last year.

The index, published annually, compares each state’s capacity for achieving prosperity through scientific discovery and technological innovation, by analyzing their performance on a number of key indicators. Ranking above Utah were Massachusetts, Colorado, California, Maryland and Washington. For a deeper dive, view the full report here.

“We know that Utah’s life sciences industry is one of the fastest growing in the country,” said Kelvyn Cullimore, president and CEO of BIoUtah, “Reports, such as the Milken Institute’s 2020 State Technology and Science Index, underscore our robust innovation ecosystem. And, with BIoUtah’s BioHive branding initiative, we’re spreading the word.”

The index is a composite of five sub-indexes, which cover a diverse range of topics: research and development (R&D) inputs, risk capital and entrepreneurial infrastructure, human capital investment, technology and science workforce, and technology concentration and dynamism. By comparing how states rank in these areas, the index assesses their capacities for generating new scientific ideas, as well as for commercializing technologies that contribute to firm expansion, high-skills job creation, and broad-based economic growth.