Innovation
"History should be our guide. The United States led the world’s economies in the 20th century because we led the world in innovation. Today, the competition is keener; the challenge is tougher; and that is why innovation is more important than ever. It is the key to good, new jobs for the 21st century. That’s how we will ensure a high quality of life for this generation and future generations. With these investments, we’re planting the seeds of progress for our country, and good-paying, private-sector jobs for the American people."
Innovation is the development of new products, services, and processes that affect our daily lives or improve our world. Many of tomorrow’s jobs will be in industries that do not exist today. The countries that catalyze their development will reap the greatest rewards.
That’s why the Obama Administration developed the Strategy for American Innovation and included over $100 billion in American Recovery and Reinvestment Act funds for projects that will spur innovations. In August 2010, the Office of the Vice President released a report detailing some of the ways in which the Recovery Act is already generating innovative and transformative programs that will not only put Americans back to work, but build a foundation for a more robust and competitive American economy.
The President’s Strategy for American Innovation has three parts:
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