What’s the best state for innovation?
Florida if you believe a recent report released by Fast Company. They based their assessment on data from the Bureau of Labor Statistics including the launch rate of private businesses and date from the Kauffman Index of Entrepreneurial Activity data on new business starts.
Florida scored well in the amount of revenue per startup at $1.2 million, and the type of innovation going on in Florida has a local flavor: tourism and healthcare.
Central Florida is the home of medical innovation start-ups. And with a strong local base of rich retirees finding funding for promising medical start-ups has not been a problem.
Some of the medical start-up companies based in Florida include: Encephalodynamics, which develops medical devices to detect impaired brain functions. Styledwel designs medical products aimed at improving style and functionality. Styledwel attempts to boost patient self-esteem through the providing functional products that are not unsightly.
TrueMotion Spine seeks to provide the next generation of Total Disc Replacement Technology. Spinal implants may improve a patient’s quality of life and possibly more in the future.
Whether seeking to improve brain functionality or improve a patient’s quality of life these Florida medical companies enjoy advantages that companies in Illinois currently do not offer. Among them is the lack of a state income tax. Recently the number two state on the Fast Company list had its governor in Chicago telling Illinois companies to move to Texas.
Even though taxes may not be the primary concern for these companies is Illinois doing enough to promote medical technology innovation?
