Frameworks for Measuring Innovation

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Working Paper #06

Frameworks for Measuring Innovation:
Initial Approaches

Susan Rose Stephanie Shipp Bhavya Lal Alexandra Stone Science and Technology Policy Institute

March 2009

Athena Alliance 911 East Capitol St., SE Washington, DC 20003 www.athenaalliance.org | info@athenaalliance.org

Frameworks for Measuring Innovation: Initial Approaches

About Athena Alliance Athena Alliance is in the vanguard of identifying, understanding, analyzing, and educating on the information, intangibles, and innovation (I3 or I-Cubed) economy. Information, knowledge, and other intangibles now power economic prosperity and wealth creation. Intangible assets—worker skills and know-how, informal relationships that feed creativity and new ideas, high-performance work organizations, formal intellectual property, and brand names—are the new keys to competitive advantage. Intangibles and information drive innovation through a combination of formal research and informal creativity. These elements come together to power the productivity gains and process improvements that enhance prosperity in the 21st century. While the economic rules have changed, public policy has not caught up. Governments are struggling with ways to utilize information, foster development of intangibles, and promote innovation and competitiveness in this new economy. Policymakers are grappling with the urgent need to frame policy questions in light of the changing economic situation. Issues of developing and utilizing information, managing intangibles, and fostering innovation underlie discussions on a variety of subjects, such as intellectual property rights, education and training policy, economic development, technology policy, and trade policy. Crafting new policies in these areas requires infusing a better understanding of intangibles and the information economy into the public debate. As a nonprofit public policy research organization, Athena Alliance seeks to close the gap between the changed economy and current public policy through activities to reshape the debate and craft new solutions. Recent activities include working with the District of Columbia to create an innovation-led economic development strategy, co-hosting Congressional luncheon policy briefings, co-hosting a D.C.-based conference on innovation in India and China with the National Academy of Sciences, co-hosting a New York City-based conference on financial reporting and intangibles with the Intangible Asset Finance Society, and publishing policy reports on intangible assets, including Reporting Intangibles (2005), Measuring Intangibles (2007) and Intangible Asset Monetization (2008). Athena Alliance Board of Directors Richard Cohon, President, C.N. Burman Company, LLC—Chairman Kenan Patrick Jarboe, Ph.D.—President Joan L. Wills, Director of the Center for Workforce Development, Institute for Educational Leadership—Secretary/Treasurer Jonathan Low, Partner and Co-Founder of Predictiv, LLC—Board Member

Athena Alliance

March 2009

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Frameworks for Measuring Innovation: Initial Approaches

About the Authors Susan L. Rose is a research staff member at the Institute for Defense Analyses (IDA), where she conducts research on defense contracts, manpower, and health insurance. Her recent research includes studies on competition in defense service contracts, tradeoffs between selection and training in military recruiting, and forecasting defense health care spending. Dr. Rose earned her Ph.D. in Economics from Ohio State University, where she researched auctions and the design of Internet rating systems. Stephanie Shipp is a senior research staff member for economics, energy, and technology assessment at the Science and Technology Policy Institute (STPI) at IDA. In that capacity, she leads and works on projects involving energy, innovation, workforce, engineering education, and evaluation of high-risk grant programs. From 2000 to 2008, Dr. Shipp directed the Economic...
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