WalletHub ranks Colorado as fifth most innovative state

Colorado ranks fifth overall in an analysis of the most and least innovative states.

WalletHub, a personal finance website, based the ranking on an analysis of the innovation environments and human capitals in the 50 states and District of Columbia. A total of 24 indicators were considered in the evaluation.

The indicators used to assess innovation environment included the number and density of technology companies, research and development spending and venture capital funding.

The indicators used to assess human capital included the number professionals in the so-called STEM fields of science, technology, engineering and math as well as college graduates with science and engineering degrees and projected demand for STEM jobs.

Colorado ranked fourth for its innovation environment and sixth for human capital.

Among the individual indicators,  Colorado ranked fifth for its share of technology companies, seventh for venture capital funding per capita and 18th for research and development spending per capita.

Colorado tied with Virginia for fifth for STEM professionals and ranked sixth for projected STEM job demand by 2020 and ninth for the share of science and engineering college graduates aged 25 years and older. Colorado and Pennsylvania tied for first for math science performance among eighth-grade students.

Massachusetts was ranked as the most innovative state, followed by Washington, the District of Columbia and Maryland. California, Virginia, Utah, Delaware and Oregon also made the top 10.

Mississippi was ranked as the least innovative state, followed by Louisiana, West Virginia, Iowa and Tennessee. North Dakota, Hawaii, Kentucky, South Dakota and Nebraska also made the bottom 10.

Find out more at: https://wallethub.com/edu/most-innovative-states/31890/