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Innovation

Innovation measures the extent to which a community and its institutions are generating new ideas and inventions, and the market’s reception of these ideas.

Best Practices & Deeper Dives

How to Read the Tiles How to Read the Tiles

Innovation

Patent Awards
SBIR/STTR Awards
University Technology Licensing
University R&D Expenditures

2024 TAKEAWAYS

University Research and Development Expenditures increased by nearly $52 million, and our rank held steady at 16th place. Tampa Bay’s University Technology Licensing income increased by nearly 82% to $3,910,273, and our rank increased to 11th place. Our regional patent awards per 10,000 residents decreased slightly to 3.00, while our rank improved from 17th to 16th place. Small business awards for innovation and technology transfer research (SBIR/STTR) decreased from $4.02 per capita to $2.95, while the national average rose to $11.22 per capita.

INCREASING VALUES

  • More Patents
  • More SBIR/STTR Awards
  • More Licensing Income
  • More R&D Expenditures

DECREASING VALUES

  • Less Patents
  • Less SBIR/STTR Awards 
  • Less Licensing Income 
  • Less R&D Expenditures

CONTRIBUTING FACTORS

  • Funding
  • Size of metro area
  • Research universities
  • Size of business community
  • Partnerships between businesses and research universities 
  • STEM Industries, and talent pipeline