President Obama's Strategy for American Innovation

http://www.usinnovation.org/files/Obama'sInnovationStrategySept20_2009.pdf

In an effort to turn the economy around and provide sustainable growth, the National Economic Council Office of Science and Technology Policy under President Barack Obama have put together a strategy that will hopefully drive the U.S. towards sustainable growth and provide quality jobs.

Above is the link to the 26-page white paper published from the Executive Office of the President. In summary the goal of strategy is to accomplish sustainable growth, quality jobs and to have shared prosperity. To do this the plan is to have a dynamic private sector that is more solid, broad-based, in conjunction with sensible, balanced government policies.

The strategy is broken out into three main stages or steps. First, the government will "Invest in the Building Blocks of American Innovation", by developing and advanced information technology ecosystem, by educating the next generation with 21st century knowledge, restoring American leadership in fundamental research and finally, by building a leading physical infrastructure.

The second stage is to "Promote Competitive Markets that Spur Product Entrepreneurship". To accomplish this, the government will promote American exports and support open capital markets that allocate resources to the most promising ideas. In addition, they will encourage high-growth and innovation-based entrepreneurship while improving public sector innovation and support community innovation.

The third stage, "Catalyze Breakthroughs for National Priorities" by unleashing a clean energy revolution and supporting advanced vehicle technology, while driving brakthroughs in health IT and addressing the "gran challenges" of the 21st century.

The white paper covers much more than what I have mentioned above. Some other intersting points includes the breakout of where the Recovery Act spending is to go. I recommend that you read or at least thumb through the paper.