From driverless cars and smart homes to medical solutions, innovative breakthroughs are rapidly emerging that will drastically improve daily life. Government agencies should help innovators navigate the creative process instead of slowing progress with an environment of stagnation, overreach and excessive intervention.
- Innovators face mounting regulations that can be outdated, redundant, or constraining.
- 61% of venture capitalists cited regulatory uncertainties as the reason they are reducing their investment in the biotechnology industry.
- Studies have found less stringent regulation of telecommunications providers allows market innovation to increase by 60 to 99 percent.