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Innovation shouldn’t be easy. It requires understanding and breaking through existing patterns — in technology, behavior, policies or market forces. Innovating life-saving solutions for the world’s greatest health challenges, whether they are products or services, is also not easy because the patterns are complex — and sometimes unknown.
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Talk of these stubborn gaps often takes my breath away, because the country has worked so hard since the Great Recession to grow jobs and the economy. Conference hotels should provide oxygen tanks for meeting participants seeking to solve the skills gap problem.
At the national level, we can and must do more to foster innovation. It will keep our economy humming, our businesses competitive and hiring, our manufacturers producing, our standard of living rising and our wages high.
There are five essential ingredients for innovation:
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Intellectual property (IP) — that covered by patents, trademarks, copyrights and harder-to-protect trade secrets — is now worth as much as 75 percent of the total value of major companies. But while the importance of these assets has grown, many businesses lag in their efforts to protect IP.