PAT E N T S G R A N T E D 2 01 4 - 2 01 8 35%
Percent Change
Over the past five years, the number of patents granted in Michigan continued to grow. The state ranked first among peer states with 30.6% growth since 2014. In 2018, Michigan inventors were awarded 7,634 patents, a record number which ranked the state third among peers.
50,000
Total Patents
30% 40,000 25% 30,000 20% 20,000 15% 10,000
ONE-YEAR CHANGE
5,000
Michigan: 3.4% National: -3.6%
10% 5% 0
30.6%
16.1%
8.6%
7.6%
6.5%
1.8%
0.3%
-1.3%
-2.9%
-13.4%
#1
4.5%
Among peers in year-over-year change
Source: United States Patent and Trademark Office
P R I VAT E I N V E S T M E N T V E N T U R E C A P I TA L
27 37% 50% 32%
Venture capital firms in the state manage $3.7 billion in funds according to the Michigan Venture Capital Association
Over the past five years, venture-backed startup companies operating in Michigan have increased by 37%
Life science/health care (50%) and information technology (32%) sectors lead in venture funds invested
P R I VAT E LY F U N D E D R & D
$19.1 billion
Funds spent for private sector R&D in Michigan paid for by businesses
#3
State in the nation, after California and Washington for private sector investment
Source: National Science Foundation, 2017
D ET RO I T C H A M B E R . C O M
17