Silicon Valley Competitiveness and Innovation Project: New Report Released

The Silicon Valley Leadership Group and the Silicon Valley Community Foundation have joined together to launch the Silicon Valley Competitiveness and Innovation Project (SVCIP) to “proactively identify a data-driven, overarching economic strategy to enhance and reinforce our competitive advantages in innovation, and ensure that Silicon Valley residents have access to the job opportunities and prosperity linked to growth in key industries.” Twenty-three competitiveness and innovation indicators have been identified for tracking annually and will be compared against other leading innovation regions across the country. On January 14, this initiative released its inaugural report that cites that the economy fueled by innovation industries has rebounded but faces challenges that will impact Silicon Valley’s competitive edge. The warning signs include: shortage of skilled workers to meet the requirements of the high-tech sector; need for more investment in high-quality education in early education and STEM curriculum; access to foreign-born talent in innovation industries; rising housing costs and traffic congestion affecting quality of life; and the decline in research and development investment in the region’s universities impacting the pipeline for innovation.

To read the full report, please visit the SVCIP website.