Increases in Global Innovation 2024: Reducing Academic-Business Innovation Barriers (Innovative Community Development-Escanaba)

(Illustrative Only-Example for Learning)

Jake is a free thinker mixed with
a little scientific knowledge. He has explored
some new concepts and created
some practical solutions for 
the community cluster that
has started to form over the past
few years. To Jake he can see
ideas in action locally through
micro developments that
made a slow growth place
thriving again through a
mini-renaissance. Put it
on investor's map for consideration. There
are few barriers to innovation
here and that makes a difference.

Jake sees a bigger picture of
how elements interact and can
tap those fundamentals
in economic and social
exchange assumptions. 
As an example, business that consider
working in groups/committees
to solve problems
shared by participants
creating innovation 
throughout the community. 
That helps not only their
business but also others. 
The benefits of the community
are considered in the decision making
process and that fosters
social community growth.

One might see the fruit of one's 
labor in the lives of 
community members in terms
of quality of life, jobs, reduction
in crime and more opportunity
for the young. It is time
to start focusing on developing
our communities again because
that is where home and hearth is 
located and that is where 
development impacts lives
in ways we can see it.

What was presented above
 is a learning example. You may
consider investing in a UP community
like Escanaba. The downtown is ripe
for start-ups and business
participation in growth.  Escanaba DDA

Innovation isn’t just about how much money is spent; it’s also about what is being researched and how easily ideas move from invention to real-world application. The gap between academic research and practical industry use has long been a concern, as many discoveries never make it beyond the lab. Strengthening partnerships between universities and businesses, prioritizing research with broad industry impact, and focusing on technologies that can reshape multiple sectors—such as new energy sources or advanced materials—can help close that divide.

Communities can also boost innovation by embracing the idea of economic clustering, where local businesses collaborate to share infrastructure, lower costs, and support each other’s growth. Clusters create opportunities for joint problem-solving, new startups, and shared efforts such as developing export markets. As an example coordinating industry-government stakeholders to attract start-ups and small business investments that can enhance the whole cluster in measurable ways. When done well, they encourage faster development, lower transaction costs, and a form of creative regeneration that sparks new ideas. 

As technologies like AI, robotics, and advanced manufacturing continue to blend with traditional industries, innovation will only grow more critical. The race is on.

End of Year Edition – Despite the Odds, Global R&D Spending Grew Again in 2024, Inching Closer to the USD 3 Trillion Mark 

Summary of Article:

• Global research and development (R&D) spending continued to expand in 2024, rising to about USD 2.87 trillion and moving closer to USD 3 trillion in real terms.

• The world economy has become more R&D-intensive over the long term, with R&D as a share of GDP increasing compared with past decades.

• Asia’s share of global R&D has grown significantly, now accounting for around 45 % of total global R&D spending.

• Northern America and Europe remain major contributors to global R&D, while some regions like Sub-Saharan Africa and Northern Africa have also seen increases.

• China and the United States are the top two global R&D spenders in 2024, with China slightly ahead, and several other economies have expanded their R&D footprints in recent years.