Welcome to Pennsylvania's Innovation Economy Dashboard. This dashboard, along with the report: Pennsylvania's Innovation Economy Annual Report (May 2021), was developed by students at Carnegie Mellon University. The information here focuses on translating new ideas into jobs, developing and maintaining a talented workforce, and connecting workers to jobs--to keep our state prosperous, competitive, and supportive of all Pennsylvanians.

The Inc. 5000 is an annually released list that tracks the 5,000 companies in the U.S. that are experiencing the highest revenue growth. Of those companies on the 2020 list, 188 are headquartered in PA.
The literature shows that high growth firms (defined as firms experiencing 20% or greater compound annual revenue grown over 3-years) are responsible for a significantly outsized contribution to economic growth and job creation. It also suggests that small, young, and knowledge-based firms are much more likely to achieve the levels of high growth seen on this list.
The Brookings Institute conducted an analysis and general endorsement of the list: https://www.brookings.edu/research/high-growth-firms-and-cities-in-the-us-an-analysis-of-the-inc-5000/
Source: INC 5000, Introducing the 5,000 Fastest-Growing Companies in America

The official FCC broadband definition is a minimum of 25 Mbps download and 3 Mbps upload.
Cable/fiber internet connection is used to define access to broadband, since these are the most commonly used and currently best two types of internet for a fast connection. Other technologies are less preferable due to slowness, instability, data caps, and latency.
Source: Federal Communications Commission Broadband Map

While STEM graduates aren't the only contributors to PA’s innovation economy, the number of STEM degrees awarded each year serves as a proxy for the labor pool’s interests and its level of skill development and sophistication (Milken 2018 Report).
As businesses grow in PA, they need skilled and well-educated workers who are prepared for the innovation economy. STEM degree programs help equip students with the knowledge and skills they need to enter the workforce and be successful in a tech-driven, global economy. (PA Department of Education).
Note about data: This table presents data collected from Title IV institutions in the United States. Prior to 2009-10, the data include only Title IV primarily postsecondary institutions.
Source: U.S. Department of Education, National Center for Education Statistics, Integrated Postsecondary Education Data System (IPEDS),Completions component final data (2001-02 - 2017-18) and provisional data(2018-19).

Milken State Technology & Science Index Rankings
The Milken State Technology and Science provides a simple glance at how Pennsylvania is doing relative to other states. The Index considers 106 indicators across R&D inputs, risk capital and entrepreneurial infrastructure, human capital investment, technology and science workforce, and technology concentration and dynamism. Though there are some areas the Milken Index does not account for.
Data Source : Milken Institute

DCED Funding
This graph shows funds allocated to the Dept. of Community and Economic Development (DCED) from the state’s General Fund, by year. This is part of the annual budget proposed by the Governor and altered or approved by the General Assembly. The three DCED programs highlighted—the Ben Franklin Technology Partners, Manufacture PA, and Partnerships for Regional Economic Performance (PREP)—are central to fostering the Commonwealth’s entrepreneurial community and emerging technology companies, often providing necessary capital before the private market can feasibly be expected to step in.
Note re Small Business Assistance/PREP (red series): In FY 2011, Industrial Development Assistance Local Development Districts, Small Business Development Centers, and Industrial Resource Centers were consolidated into Partnerships for Regional Economic Performance (PREP).
Note re Manufacturing PA (green series): In FY 2017-18, the Manufacturing PA line item was created at $12M. That line includes the Industrial Resource Centers (IRCs). As a result of the IRCs being moved out of the PREP line item, coupled with the creation of a new program within the PREP line, the overall appropriation for PREP was reduced by $2M, but its programs were not negatively impacted.
Source: Pennsylvania Department of Community and Economic Development

The official FCC broadband definition is a minimum of 25 Mbps download and 3 Mbps upload.

Cable/fiber internet connection is used to define access to broadband, since these are the most commonly used and currently best two types of internet for a fast connection. Other technologies are less preferable due to slowness, instability, data caps, and latency.

The top ten states by number of venture capital firms in the state by year (2021)

Utility patents are also described as patents for invention, meaning they are one of the better measures of innovative development. PA lags behind its peers, and the national average on the number of patents per 100,000 residents. This metric is expanded upon and analyzed in this report from the Brookings Institution: https://www.brookings.edu/research/ideas-for-pennsylvania-innovation-examining-efforts-by-competitor-states-and-national-leaders/
Sources:
Patents: USPTO
U.S. and State Population: U.S.Census Bureau, State Population Totals 2010-2019

Small Business Innovation Research (SBIR) and Small Business Tech Transfer (STTR) Funding in Pennsylvania and selected states per $1 Million in GDP (2009-2019)