A set of key indicators that paints an objective picture of the underlying health of the innovation economy in Washington state was recently released by the Washington Technology Center.

According to its third annual Index of Innovation and Technology, the number of patents earned by Washington inventors increased by 11 percent from 2000 to 2001.

However, Washington state retains the dubious honor of having the highest percentage of business closings in the nation.

While venture investment in Washington companies declined almost 60 percent during the years covered by the Index, Washington remains among the top regions of the country for venture investment, ranking ninth overall.

This mass extinction of Internet companies and shriveled funding has not reversed the rise in technology employment in Washington state.

The growth of non-aircraft technology sectors has steadily increased, according to the Index.

Many of the refugees from defunct dot-com companies have found new full-time jobs in others parts of the innovation economy.

The Innovation Index looks through a lens of some 40 or more indicators to provide an objective view. It assesses growth, financial capacity, human potential, competitiveness, quality of life and innovation capacity in Washington state.

For a copy of the complete Index or the Index Executive Summary, download it from:
www.watechcenter.org/techindex/index.html.