Department of Commerce Seeks to Measure Innovation

20 04 2007

“WASHINGTON-Commerce Secretary Carlos M. Gutierrez today announced that the Department is seeking public input on ways to measure innovation in the economy.The public comments will support the work of the Measuring Innovation in the 21st Century Advisory Committee, established by Secretary Gutierrez to provide recommendations on how to measure innovation and its impact on the U.S. economy. Comments from the public will inform and advance the development of proposals…

The Committee anticipates the recommendations will cover the following four major categories identified by the participants during the initial meeting:

    1. Improvement of the underlying architecture of the U.S. System of National Accounts to facilitate development of improved and more granular measures of innovation and productivity;
    2. Identification of appropriate economy-wide and sector-specific statistical series or other indicators that could be used to quantify innovation and/or its impacts;
    3. Identification of firm-specific data items that could enable comparisons and aggregation; and
    4. Identification of specific “holes” in the current data collection system that limit our ability to measure innovation.”
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