Inclusive Innovation: Building Opportunities for all Americans
Short Summary:
This video discusses "Inclusive Innovation," focusing on increasing diversity in the U.S. innovation ecosystem. Key points include the underrepresentation of women and minorities in U.S. patents (e.g., women account for only 13% of inventors), the geographic concentration of innovation, and the significant economic benefits of broader participation (potentially quadrupling the number of inventors and increasing GDP by over 4%). Specific examples like Mary Anderson's windshield wipers and Jennifer Doudna's CRISPR technology highlight the contributions of women inventors. The discussion explores methods to address these issues, including data collection (IDEA Act), mentorship programs, targeted funding for STEM education, and creating a more tolerant environment for failure in innovation. The applications and implications involve boosting economic growth, improving the standard of living, and enhancing U.S. global competitiveness. The National Council for Expanding American Innovation's development of a comprehensive national strategy is a key process discussed.
Detailed Summary:
The video begins with an introduction to the Center for Strategic and International Studies (CSIS) online event focusing on diversity in innovation. The speaker emphasizes the need to expand the innovation ecosystem in the U.S. and globally, noting that innovation is currently highly concentrated demographically, economically, and geographically. Statistics highlighting the underrepresentation of women and minorities in U.S. patents are presented, along with studies showing the potential economic benefits of increased inclusivity. Examples of inventions by women, such as Mary Anderson's windshield wipers and Marie Van Brittan Brown's home security system, are used to illustrate the historical contributions of underrepresented groups.
Senator Hirono's keynote speech further emphasizes the underrepresentation of women and minorities in the U.S. patent system, citing the USPTO's 2020 report. She discusses the economic potential of closing these gaps, referencing studies showing potential GDP increases of hundreds of billions of dollars. She highlights legislative efforts, including the SUCCESS Act and the IDEA Act (Inventor Diversity for Economic Advancement Act), aimed at collecting demographic data from patent applicants and increasing support for women and minorities in STEM fields. The senator also mentions initiatives to improve representation in the patent bar. A Q&A session with the senator follows, focusing on the importance of role models, highlighting successful women inventors, and the need for data-driven policy. The senator stresses the importance of data collection through the IDEA Act to inform policy and support for women and minorities.
The second half introduces a panel of experts, including Valencia Martin Wallace (USPTO Deputy Commissioner), Cordell Hardy (3M), Lisa Jorgensen (WIPO), and Lonnie Johnson (inventor of the Super Soaker). Lonnie Johnson shares his personal journey as an inventor and entrepreneur, emphasizing the importance of nurturing curiosity and risk-taking from a young age. He recounts a childhood incident involving nearly blowing up his kitchen, highlighting how his father's response fostered his continued interest in science and technology. He also discusses the challenges he faced as a Black inventor in the segregated South and the importance of perseverance.
Valencia Martin Wallace discusses the USPTO's National Council for Expanding American Innovation, its goals, and its comprehensive strategy to foster a more inclusive innovation ecosystem. She emphasizes the importance of data collection, mentorship, and providing opportunities at all stages of an inventor's life. Lisa Jorgensen shares WIPO's initiatives on IP and gender, highlighting the need for global collaboration, data disaggregation, and programs to support women in STEM fields. She addresses concerns about data collection, emphasizing the importance of voluntary participation and data confidentiality. She also discusses her work at AIPLA and the importance of increasing diversity within the IP professional bar. Cordell Hardy discusses 3M's commitment to diversity and inclusion in innovation, highlighting the company's initiatives in mentoring, training, and resource allocation. He emphasizes the need for targeted funding for STEM education and addressing systemic inequalities in education funding.
The panel concludes with a discussion of specific recommendations, including targeted funding for STEM education, creating a more tolerant environment for failure in corporations, and implementing tax credits for companies paying royalties to individual inventors. The importance of data sharing and the development of mentorship networks are also highlighted. The discussion emphasizes the need for a collaborative effort between government, industry, and academia to achieve a more inclusive and diverse innovation ecosystem.