Arkansas Invention Index – August 2020
The Invention Index measures a country’s or state’s innovation output by comparing GDP growth with patent production growth.
Arkansas Invention Index August 2020: 3.4% (B- Grade)
Arkansas Invention Index over the last year:
Anything over C grade is positive sentiment; anything under C is negative outlook/sentiment. Using that sentiment, it is possible to observe trends over time, and also compare states/countries. In doing so we can predict which states have the best chance to recover economically from the pandemic (or any other economic incident that may occur).
Arkansas’ Invention Index is still a positive sentiment, however, it has been on a decline from April this year, which may be due to the evolving situation with Covid-19. There has been no sudden drop in patent numbers, but we may continue to see a decrease in approvals – and a reduced Invention Index – in the coming months/years as the state feels the full economic impact of companies closing and/or being forced to minimize their staffing and therefore minimize their R&D work hours.
Learn more about the Invention Index here.