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A significant factor to consider when evaluating prospective sites for a medical device company's operations is the academic resources available through and produced by local universities. For medical device companies, this can be partially quantified by examining the number of bachelors and masters degrees awarded by local universities in science-related fields (see table).
|
%
Science-Related
Degrees |
%
of Total National
Science Degrees |
%
of Total Degrees
in All Fields |
|
| United States | 15.5 | 100.0 | 100.0 |
| California | 17.2 | 11.1 | 10.0 |
| Massachusetts | 15.1 | 3.7 | 3.8 |
| Minnesota | 13.8 | 1.8 | 2.0 |
| New York | 13.3 | 7.5 | 8.7 |
| New Jersey | 18.1 | 2.5 | 2.2 |
| Ohio | 14.4 | 3.6 | 3.9 |
| Pennsylvania | 16.1 | 5.4 | 5.2 |
| Florida | 13.9 | 4.0 | 4.4 |
| Illinois | 15.8 | 4.8 | 4.7 |
| Texas | 15.8 | 6.0 | 5.9 |
| A breakdown by state of science-related bachelor's and master's degrees granted in the United States compared to degrees granted in all fields of study; data based on the school year ending in the summer of 2004. Source: iplQ. | |||
The percentages of science-related degrees awarded in each of the top 10 states for medtech inventor contributions fall closely in line with the percentage of science-related degrees awarded nationally. Therefore, on a state-by-state level, none of the top 10 has a greater weight in science degrees than expected. Combined, the top 10 states for medtech inventor contributions awarded half of all bachelors and masters degrees in the United States for the school year ending in the summer of 2004.
In addition to these trends by state, the top 10 core-based statistical areas for inventor contributions to medical device patents coincide with areas in which more than half the population is college-educated. Not only do these areas have proximity to well-known universities—which also contribute a significant number of patents—but they also provide the type of economic and lifestyle conditions that keep educated professionals from leaving the area. Such conditions also make the areas attractive relocation options for outside talent.
