2016 Indicator Highlights
- Industry Funding of Academic and Health R&D in Massachusetts set a 10-year record in 2014 ($237 million).
- Venture Capital invested in Massachusetts firms increased by nearly $3 billion from 2013-2015.
- Early Stage and Expansionary firms were the most popular destinations for funding.
- Biotechnology (38.8%) and Software (28.6%) sectors accounted for the majority of total Venture Capital funding in 2015.
- Massachusetts’ Innovation economy jobs grew at 3.0%, the same rate as the rest of the economy over the previous year.
- Massachusetts households earn $10,000 more than their counterparts in the average Leading Technology States.
- Massachusetts exports as a share of GDP are down 7% since 2014.
- Output grew by 36% from 2009-2015 in two sectors
- Computer & Communications Hardware
- Software & Communications Services
- Massachusetts leads the LTS in
- Federal R&D Funding per capita ($6.64 per $1,000 GDP)
- R&D spending as a percent of GDP (5.86%)
- NIH R&D Funding per capita ($4,248 per $1 million GDP)
- Massachusetts’ continues to rely on an educated workforce, 67.5% of working age adults have at least some college education.
- Employment rate of adults with a Bachelor’s degree has remained flat (75.70%) as compared to 2014.
- Massachusetts leads the LTS in degrees granted per million residents in STEM fields with 2,263 degrees.
- Massachusetts maintains an advantage over the LTS in life science graduates (1,642 per million residents) from 2014-2015.
- Massachusetts is a leader in the LTS for Small Business Innovation and Research/Technology Transfer (SBIR/STTR) award dollars as a percentage of GDP ($583 million per $1 million GDP)
- Massachusetts patents continued to increase to a new high of 6,777 in 2015, but at a slower rate than previous years.
- Massachusetts leads the LTS in Technology Patent Sectors
- Drugs & Medical Patents (227 per million residents)
- Analytical Instruments & Research Methods Patents (100 per million residents)
- Massachusetts experienced a decrease of -1282 in Business Establishment openings in 2015.
