Life sciences research is a strong economic driver, even if it leads to few patents
As the economy continues to flounder, many cities are looking for ways to replicate Silicon Valley’s financial success. When seeking to catch the magic of those biggest successes — Apple, Google and Facebook — the word “innovation” gets thrown around frequently. And as intellectual property is taking on a larger and larger role in how companies do business in the Bay Area, many have equated innovation with patents.
A recent Sun article about innovation in Baltimore and Maryland focused on just that. It lamented that the Baltimore metro area came in 116th out of 360 metro areas for the number of patent applications per capita, and that the number of patents granted to Baltimoreans remained flat over the past decade. The article seemed to suggest that this lack of intellectual property growth was at least partially responsible for Baltimore’s lack of job growth.