Impact has been known for innovation. ReseaRch and insights by the numbeRs The Innovation Engine Tune-Up From the early days of circuits and semiconductors to the boom of Internet commercialization, Silicon Valley Innovation is more than just a reputation, though. It’s a driving force for the region’s economy. So Silicon Valley Community Foundation and the Silicon Valley Leadership Group have partnered on the Silicon Valley Competitiveness and Innovation Project (SVCIP). This collaboration analyzes the innovation economy in Santa Clara, San Mateo and San Francisco counties and offers policy solutions. The first report, produced in early 2015, surveys the economic landscape of innovation industries and outlines potential policy work. “Taken together, SVCIP findings suggest that a critical ingredient for the continued success of the Valley is talent, and several trends, such as deteriorating quality of life, are inhibiting the region’s ability to develop, attract and retain it,” notes the report. A few highlights follow. Download the entire report and follow the project at svcip.com. Capital, Patents and Processes of u.s. venture capital investment was in silicon Valley through Q3 2014 46% new companies opened on average in 2012 and 2013, a record high 2,400 X2 Strong output: Workers produce 62 percent above national average total patents registered nearly doubled in a decade Cost of Doing Business 62% High price: cost of doing business index is also 19 percent higher 19% Why Innovation Matters The STEM Talent Pool 56% stem occupations are 2.6 times more concentrated than the u.s. average 14 n of stem workers were foreign-born, tying the workforce to immigration issues more innovation jobs than other key regions, including new york city, seattle and austin 8% sPR i ng 20 1 5 n s i l icon v alle ycf . oR g Rob Jamieson/ThinksTock; ingRam Publishing/ThinksTock of regional gdP driven by innovation industries in 2013 33% of regional jobs in innovation industries in Q1 2014 26%