Press Release

Experts to Discuss Possible Innovation Measurement Recommendations

WASHINGTON—Commerce Secretary Carlos M. Gutierrez’s advisory committee to study ways to better understand the impact of innovation on the economy will hold its second meeting on September 12 to finalize its recommendations for publication this fall.

“Innovation contributes to our economy and our high standard of living. We have more choices in the marketplace and more efficient processes in our factories and offices. Innovation’s impact on growth should be reflected in our economic data,” said Secretary Gutierrez. “I look forward to receiving the recommendations of the panel this fall.”

The meeting will be held in the Department of Commerce’s auditorium from 9 a.m. to noon and is open to the public. Additional information on the location of the meeting and security requirements can be found on the Web site at www.innovationmetrics.gov.

The Measuring Innovation in the 21st Century Economy Advisory Committee was chartered to conceive of ways to improve the measurement of innovation so as to understand better its impact on the American economy.

The group of 10 prominent CEOs and five distinguished academics that comprise the committee met in February to outline its goals. The committee sought public comment and input over the past six months. All of the public comments received are available at www.innovationmetrics.gov. The committee distilled more than 60 ideas into 13 slated for discussion at the meeting.

"The Advisory Committee is making great progress in its discussion of recommendations for new and improved measures of innovation, but we need the continued involvement of the other experts, agencies, and the public," said Carl Schramm, president and CEO, of the Ewing Marion Kauffman Foundation and the chair of the Committee.

The committee members are as follows:

BUSINESS LEADERS:
Steve Ballmer, CEO, Microsoft Corporation, Redmond, Wash. Under Mr. Ballmer's leadership, the company has continued to grow into the world's leading company for software, personal and business computing. Mr. Ballmer is focused on continuing Microsoft's innovation across the company's seven businesses.

David L. Bernd, CEO, Sentara Healthcare, Norfolk, Va. Under Mr. Bernd’s leadership, Sentara has been a consistent leader in healthcare innovation, particularly through the use of technology to enhance clinical outcomes. Mr. Bernd is a former chairman of the American Hospital Association.

James Blanchard, Retired Chairman of the Board and CEO, Synovus Financial Corp, Columbus, Ga. In his 36-year tenure at Synovus, Mr. Blanchard has taken Synovus from a $100 million community bank to a $31 billion diversified financial services company and played a key role in the creation of TSYS, one of the world’s largest payment services companies.

George Buckley, Chairman, President and CEO, 3M, St. Paul, Minn. For more than a century, 3M has exemplified what it means to succeed through innovation. The company has set the standard for innovation by applying leading-edge technologies such as microreplication, nanotechnology, light management, and fuel cell research, to create products that transform industries. 3M’s products are found in a variety of places including: homes, offices, hospitals, dental offices, cars, aircraft, traffic signs, LCD displays and electronic devices.

Art Collins, Chairman and CEO, Medtronic, Minneapolis, Minn. Medtronic is the global leader in medical technology, and is the largest and most diversified medical device company in the world. Mr. Collins served as chairman of the Advanced Medical Technology Association and is a recognized national speaker on patient access to new medical technology, better health, investment, competitiveness and growth.

Michael Eskew, Chairman and CEO, UPS, Atlanta, Ga. UPS is the world’s largest package delivery company and a global leader in supply chain services. Under Mr. Eskew’s direction, UPS is deploying new technologies and expanding its capabilities into additional lines of business that complement the company’s global delivery operations.

Luther Hodges, Jr., owner-manager of Santa Fe Hospitality and the Hotel Santa Fe, as well as investment partnerships, Chapel Hill, N.C. Mr. Hodges has served in financial services banking posts for 27 years and was the first Deputy Secretary of Commerce.

John Menzer, Vice Chairman, Wal-Mart Stores, Bentonville, Ark. Mr. Menzer has led six major global acquisitions. Prior to his current position, he was president and CEO of Wal-Mart International with full operating responsibilities for the company’s international operations in 15 countries outside the United States and the 3,200 U.S. stores.

Samuel J. Palmisano, CEO, IBM, Armonk, N.Y. Under Mr. Palmisano’s leadership, IBM’s strategy focuses on enabling innovation and the development of the globally integrated enterprise. He is credited with building the largest and most diversified IT services organization in the industry. Mr. Palmisano was co-chair of the Council of Competitiveness’ National Innovation Initiative, which produced a report, "Innovate America." One of the key findings of the report is the need to develop new metrics to understand and manage 21st century innovation.

Carl Schramm, Ph.D., President and CEO, Ewing Marion Kauffman Foundation, Kansas City, Mo. The Kauffman Foundation is the nation's largest philanthropy dedicated to economic research and is the global center of thought on the topic of advancing entrepreneurship. The foundation also leads efforts to find more effective ways to move innovative discoveries from the lab to the market.

ACADEMIC LEADERS:
Ashish Arora, Ph.D., Professor of Economics and Public Policy at the H. John Heinz III School of Public Policy and Management at Carnegie Mellon University, Pittsburgh, Pa. Dr. Arora's research focuses on the economics of innovation and of technology-intensive industries such as software, biotechnology and chemicals, the role of patents and licensing in promoting technology startups and facilitating a market for technology, and the economics of information technology.

Rajesh Chandy, Ph.D., Carlson School Professor of Marketing, Carlson School of Management, University of Minnesota, Minneapolis, Minn. His research specialties include innovation, technology management, and marketing strategy. Dr. Chandy has received several national and international awards for his research on innovation.

Kathleen B. Cooper, Ph.D., Senior Fellow, Tower Center for Political Studies, Southern Methodist University, Dallas, Tx. For the previous two academic years, she was the Dean of the College of Business at the University of North Texas. As the Commerce Department’s Under Secretary for Economic Affairs from 2001 - 2005, she served as the principal economic adviser to Secretary Gutierrez and Secretary Evans. Dr. Cooper was Chief Economist and Manager of the Economics and Energy Division at the Exxon Mobil Corporation.

Dale W. Jorgenson, Ph.D., Professor of Economics, Harvard University, Cambridge, Mass. He has conducted groundbreaking research on information technology and economic growth, energy and the environment, tax policy and investment behavior, and applied econometrics.

Donald Siegel, Ph.D., Professor and Associate Dean, Graduate School of Management, University of California at Riverside, Riverside, Calif. His primary research interests are the economics and strategic implications of technological change, the measurement and analysis of firm performance, university technology transfer, and the impact of public and private investments in technology (R&D and computers) and education on productivity and labor composition.