New Hampshire is 2022's 9th most innovative state, study finds

With the U.S. projected to spent nearly $600 billion on R&D in 2022, the personal-finance website WalletHub today released its report on 2022's Most and Least Innovative States.

In order to give credit to the states that have contributed the most to America's innovative success, WalletHub compared the 50 states and the District of Columbia across 22 key metrics. The data set ranges from share of STEM professionals to R&D spending per capita.

Innovation in New Hampshire (1=Most Innovative, 25=Avg.):

• 8^th - Share of STEM Professionals
• 7^th - Projected STEM-Job Demand by 2028
• 5^th - Eighth-Grade Math & Science Performance
• 10^th - Share of Science & Engineering Graduates Aged 25+
• 9^th - Share of Technology Companies
• 12^th - R&D Spending per Capita

For the full report, please visit:
https://wallethub.com/edu/most-innovative-states/31890

Please let me know if you have any questions or if you would like to schedule a phone, Skype or in-studio interview with one of our experts. Feel free to embed this YouTube video summarizing the study on your website. You can also use or edit these raw files as you see fit. Full data sets for specific states and the District are also available upon request.

Expert Commentary

How can state policymakers encourage and facilitate innovation?

"Innovation tends to have significantly positive geographical spillovers (meaning firms, institutions, or individuals at close locations benefit from frequent collaborations, sharing of ideas, etc.). So fostering/encouraging some kind of innovation hub (if none or few exist in the state) whereby such positive benefits of co-location can happen would be a good start. I also think that the presence of maker spaces or coding spaces where young kids can play and tinker with building products/software codes is useful to encourage innovation from a young age."
Tian Heong Chan - Assistant Professor, Emory University's Goizueta Business School

"We need to understand that innovation is not only about new-to-the-world types of products or services, or high-tech gadgets. There is a lot of everyday innovation happening in communities across the country. Sometimes innovations concern systems and changing established ways of doing things, and may not involve any technology. However, regardless of the type of innovation we are talking about (radical, incremental, breakthrough, or every day), every innovation needs human capital as its fuel. So investments in equitable, high-quality education at every level of the educational system are the key. There is no way around that if you want to see innovation as an outcome."
Maija Renko, Ph.D. - Professor and Coleman Chair of Entrepreneurship, DePaul University

Have investments in innovation slowed during the pandemic? If so, why is that?

"It depends on the type of innovation. There has been a slow down for investments in incremental innovative activity, or innovations that modify and enhance existing products and services. This is attributable to disruptions from both the demand side and supply side resulting from the pandemic. On the other hand, we are seeing an explosion for investments in more fundamental, potentially disruptive innovations, as entrepreneurs and firms leverage new opportunities emanating from new and unexplored consumer needs triggered by the covid pandemic."
David Audretsch - Distinguished Professor and Director, Institute for Development Strategies, Indiana University

"Recent reports show that US companies raised nearly $330 billion from venture capitalists in 2021, which is nearly double the previous record in 2020...So if anything, it seems that investments have only increased during the pandemic. If you look back in history, this is not actually that surprising: wartime crises spurred innovation during the Civil War and WWII, an energy crisis spurred innovation in the refrigeration industry in the 19th century, and the climate crisis is spurring radical innovations across numerous industries today. I believe this is likely the case because every crisis brings new consumer demands to light, which presents new opportunities to solve problems and build new businesses. Similarly, the pandemic has introduced countless new problems that need to be solved, and it has fundamentally transformed the way many businesses and industries operate. Therefore, numerous opportunities have arisen to invest in innovation."
Johnathan R. Cromwell - Assistant Professor, University of San Francisco

What skills best equip individuals to be competitive in a changing economic landscape?

"The best skills of the future will need to have a combination of in-demand technical skills (skills that pertains to a specific job such as accounting, nursing, or computer programming) and soft skills competencies. The future will need individuals who can use their technical skills by applying their soft skills such as collaboration, creativity, teamwork, leadership, human connection, and problem-solving. With the increased presence of robots and artificial intelligence in our daily activities, we need to create a landscape that shows our humanity above technology. This landscape needs well-educated individuals equipped with both technical and soft skill competencies to compete in the global economy."
Haleh Karimi, Ph.D. - Assistant Professor, Bellarmine University

"Given that it is quite difficult to know how the economic landscape would change, and how it would impact an individual, there is possibly no one 'hard' skill that would ensure an individual's competitiveness. The important skills that would remain valuable through changing times are the ability to think critically in problem-solving, or the ability to communicate and collaborate effectively in diverse teams. Especially in the context of innovation, as we become ever more specialized, there is an increasing trend towards more collaborative work. Finally, change is difficult for sure. But another important angle to consider is that change also brings opportunities. Some individuals not just remain competitive, but can become more competitive when changes are afoot. So another important skill would be the cognitive flexibility to sense changes and, if not capitalize on them, be flexible enough to prepare for them."
Tian Heong Chan - Assistant Professor, Emory University's Goizueta Business School