The U.S. remains a global leader in innovation, while Texas, Florida and Washington are ranked the most innovative states, according to a March 26 article published by The Wall Street Journal.
Research by the Draper Hero Institute created an index of emerging innovative hot spots to recognize the development of advanced technology and economic growth.
Four things to know about the innovation results:
- Washington, Florida and Texas ranked as the top three U.S. states for innovation overall.
- California scored high for its thriving tech sector in the Silicon Valley but was marked down for high taxes and state regulations, Tim Draper, the firm's founder, told the Journal.
- Texas ranked third overall. It attracted $1.3 billion in venture capital for the first three months of 2021, more than what was raised in each of the previous three quarters.
- Two Silicon Valley companies, Oracle and Hewlett Packard Enterprise, announced plans in December to relocate their headquarters to Texas.