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STEM 

PhDs, 

PLEASE.
Source: BrightCap Ventures Research
Mystic Constellation
Source: Charles Jones, Handbook on Economic Growth, University of California Berkeley, 2005
World per capita GDP (log scale)
Growth
God of modern economic theory
Growth
Y= F (A, K: L)
Growth
Source: Measuring innovation: A new perspective, OECD, 2010
Growth from Ideas
Source: Charles Jones, Handbook on Economic Growth, University of California Berkeley, 2005
Ideas 



Non-rivalry 

Increasing Returns to Scale 



Growth
Source: 1) P. Giuri et al., PatVal EU Survey, 2007) 

2) Does education lead to more innovation? Otto Toivanen, V辰辰n辰nen, Helsinki Center of Economic Research, 2013
STEM education is a
natural focus because
of ample evidence
that inventors (of
patents) are often
engineers
Education Innovation?
Source: Does education lead to more innovation? Otto Toivanen, V辰辰n辰nen, Helsinki Center of Economic Research, 2013
STEM Education Innovation?
MORE 

STEM 

PhDs, 

PLEASE.
Does education lead to more innovation? Otto Toivanen, V辰辰n辰nen, Helsinki Center of Economic Research, 2013
US patents awarded to Finnish inventors, and the intake into university level (masters) engineering education in Finland. 

The catch is that the two highly correlated graphs (coeff 0.98) are from different periods: the patent series is from
1981-2007, the intake of engineering students from 1951-77. 

there is some reason to think that there could be a relationship between a policy that was implemented from the 1950s to
the 1970s and outcomes measured in the 1990s.
STEM Education Innovation?
cross OECD, 40% of all new doctorates graduating in science, technology, engineering and mathematics (STEM).
Where are the PhDs?
Source: Which countries have the most doctoral graduates? World Economic Forum, 2019
https://www.weforum.org/agenda/2019/10/doctoral-graduates-phd-tertiary-education/
Where are the PhDs?
Source: The global race for inventors, CEPR Policy Portal, Fink, Miguelez 2013
https://voxeu.org/article/global-race-inventors
We estimate that around 30% of Nobel Laureates resided outside their home country at the time of their award.

Figure 1. Immigrant and emigrant inventors (in thousands), and net migration position, 2001-2010

Immigrant inventors account for 18% of all inventors residing in the US. 

Several small European countries see even higher immigration rates , BE (19%), IR (20%), Lux (35%), and CH (38%). 

Where are the PhDs going to?
On PhD Diversity
Source: Eurostat 2016
But thats not enough
Source: Eurostat 2017
our R&D spending is lagging.
Source: R&D expenditure in the EU, Eurostat
1 sec. Whats R&D spending?
government

business enterprise 

higher education
Find the key.
Source: R&D expenditure in the EU - Convergence or Divergence, Blanco, Delgado, University of Oviedo, 2018
MORE 

STEM 

PhDs, 

PLEASE.
because the private market is coming
Source: BrightCap Ventures Research
MORE 

STEM 

PhDs, 

PLEASE.
PhDs will not run away like they used to.
Source: Basscom Barometer 2019, PPP-adjusted disposable income
They will not run away as
quickly as they used to
They will not run away as quickly as they used to
They will not run away as quickly as they used to
They will not run away as quickly as
they used to
They will not run away as quickly as
they used to
They will not
run away as
quickly as
they used
to
They will not run away as
quickly as they used to
MORE 

STEM 

PhDs, 

PLEASE.

More Related Content

Daniel Lorer Innovation Explorer 2020

  • 2. Source: BrightCap Ventures Research Mystic Constellation
  • 3. Source: Charles Jones, Handbook on Economic Growth, University of California Berkeley, 2005 World per capita GDP (log scale)
  • 4. Growth God of modern economic theory
  • 6. Growth Source: Measuring innovation: A new perspective, OECD, 2010
  • 7. Growth from Ideas Source: Charles Jones, Handbook on Economic Growth, University of California Berkeley, 2005 Ideas Non-rivalry Increasing Returns to Scale Growth
  • 8. Source: 1) P. Giuri et al., PatVal EU Survey, 2007) 2) Does education lead to more innovation? Otto Toivanen, V辰辰n辰nen, Helsinki Center of Economic Research, 2013 STEM education is a natural focus because of ample evidence that inventors (of patents) are often engineers Education Innovation?
  • 9. Source: Does education lead to more innovation? Otto Toivanen, V辰辰n辰nen, Helsinki Center of Economic Research, 2013 STEM Education Innovation?
  • 10. MORE STEM PhDs, PLEASE.
  • 11. Does education lead to more innovation? Otto Toivanen, V辰辰n辰nen, Helsinki Center of Economic Research, 2013 US patents awarded to Finnish inventors, and the intake into university level (masters) engineering education in Finland. The catch is that the two highly correlated graphs (coeff 0.98) are from different periods: the patent series is from 1981-2007, the intake of engineering students from 1951-77. there is some reason to think that there could be a relationship between a policy that was implemented from the 1950s to the 1970s and outcomes measured in the 1990s. STEM Education Innovation?
  • 12. cross OECD, 40% of all new doctorates graduating in science, technology, engineering and mathematics (STEM). Where are the PhDs?
  • 13. Source: Which countries have the most doctoral graduates? World Economic Forum, 2019 https://www.weforum.org/agenda/2019/10/doctoral-graduates-phd-tertiary-education/ Where are the PhDs?
  • 14. Source: The global race for inventors, CEPR Policy Portal, Fink, Miguelez 2013 https://voxeu.org/article/global-race-inventors We estimate that around 30% of Nobel Laureates resided outside their home country at the time of their award. Figure 1. Immigrant and emigrant inventors (in thousands), and net migration position, 2001-2010 Immigrant inventors account for 18% of all inventors residing in the US. Several small European countries see even higher immigration rates , BE (19%), IR (20%), Lux (35%), and CH (38%). Where are the PhDs going to?
  • 15. On PhD Diversity Source: Eurostat 2016
  • 16. But thats not enough Source: Eurostat 2017
  • 17. our R&D spending is lagging. Source: R&D expenditure in the EU, Eurostat
  • 18. 1 sec. Whats R&D spending? government business enterprise higher education
  • 19. Find the key. Source: R&D expenditure in the EU - Convergence or Divergence, Blanco, Delgado, University of Oviedo, 2018
  • 20. MORE STEM PhDs, PLEASE.
  • 21. because the private market is coming Source: BrightCap Ventures Research
  • 22. MORE STEM PhDs, PLEASE.
  • 23. PhDs will not run away like they used to. Source: Basscom Barometer 2019, PPP-adjusted disposable income They will not run away as quickly as they used to They will not run away as quickly as they used to They will not run away as quickly as they used to They will not run away as quickly as they used to They will not run away as quickly as they used to They will not run away as quickly as they used to They will not run away as quickly as they used to
  • 24. MORE STEM PhDs, PLEASE.