Indicator 15: Industry Funding for Academic Research
How Does Massachusetts Perform?
After a decline in 2010, industry funding for academic research and development in science and engineering (S&E) in Massachusetts recovered, reaching $224M in 2015, a $3M increase over 2010. Over the last five years, Massachusetts’ share of the U.S. total has remained relatively steady, averaging 5.9% a year. Massachusetts’ share of the U.S. total in 2015 was 5.75%.
Since 2013, the majority of the LTS have experienced considerable growth in industry funded academic research in S&E as a percentage of GDP, beginning to reverse the decline that began in 2009. Eight LTS experienced a growth rate above 24%. In 2015, Massachusetts experienced an increase of $22M of Industry Funded academic research from the previous year. North Carolina leads the LTS in industry funding for academic research in S&E per $100,000 GDP with $67.50, followed by Massachusetts in second ($54.50).The remaining LTS are substantially behind the two leaders. In 2015, industry funding as a share of total academic S&E research funding increased to 7.2% in Massachusetts, an increase from 2014 (6.8%). North Carolina was the leader in 2015 at 11.98%, followed by Ohio (8.60%), and New York (7.59%).
Industry funding for academic research in S&E for each of the LTS is relatively small compared with the total research enterprise in each state thus funding amount percentages can change dramatically from year to year.