‘Innovation Race’ Film Sheds Light on America’s Invention Battle with China and Itself

A new documentary film featuring a broad range of industry experts is a call to action for the U.S. to get its research and intellectual property house in order.

In interviews with leading technology experts, Congressional representatives and defense analysts, ‘Innovation Race’ illustrates why the U.S. needs reliable patents and a fair system to resolve disputes or risk allowing China to move even further and faster towards leadership science and technology.

Once it does, they say, the U.S. may lose a lot more than jobs.

China is a highly aggressive investor in research and development, and an active filer of IP rights not only domestically, but in the U.S. and Europe. They are doing what the U.S. used to do well – invent and protect – and are happy to see the nation’s innovation system implode by yielding to special interests.

Team Effort

The battle for innovations supremacy with China cannot be left to bigtech to fight alone. Independent inventors must play a role in identifying and developing disruptive inventions that keep us a step ahead of an adversary that is looking to beat the U.S. at its own game – identifying, commercializing and otherwise controlling innovation. China already far outspends the U.S. in research and development.

U.S. venture capital funding has dropped from 21% in 2004 (see graph above) to just 3% in 2017. China has filled much of the void and continues to.

In 2017 there was approximately $240 billion allocated to venture financing globally. In 2021 it was $650 billion. Bloomberg News reports that China’s portion of venture investing grew in 2021 to $131 billion, more than 20% of all venture investment worldwide.

The range of experts interviewed for the film, including Senator Chris Coons (D-DE), a long-time supporter of IP rights legislation and Gary Lauder, a Silicon Valley investor and inventor advocate who is also a democrat.

Too Important to Politicize

The political affiliations are particularly important to note. It would be self-defeating to further hamstring the challenges faced by the U.S. regarding China by politicizing them internally. They are NOT republican or democrat problems — they are American ones, and it will require both sides of the political isle to contain China’s formidable moves and our self-destructive ones.

The filmmakers went out of their way to include credible experts beyond their party affiliation. And the experts saw fit to participate in the ‘Innovation Race’ despite its source.

“Innovation Race” was produced by Tea Party Patriots Action, which supports a range of conservative causes, as well as  ex-President Trump.

It is no surprise that democrats and some republicans will blanch at that. They are urged not to be dismissive. There are some issues they should and can be in sync on. IP issues with regard China and U.S. competitiveness are too important to politicize.

Also interviewed for the film is Center for Intellectual Property Understanding board member and Professor of Law at the Scalia School of Law at George Mason University, Adam Mossoff. Professor Mossoff is a leading authority on the history of IP and patent legislation, and has provided expert testimony before Congress.

The Danger of IP Complacency

  • “Patents haven’t just played an important role in growing our economy, they played a key role in the technologies that have made our country safe.” – Adam Mossoff
  • “Our patent system used to be very strong and reliable. That is no longer the case.” – Gary Lauder
  • “Patents today are worth about half what they were a decade ago.” – Judge Paul Michel, Chief Judge of the Court of Appeals for the Federal Circuit (ret)

‘Innovation Race’ will be screened in theaters and released publicly in October and available widely shortly after. Watch the trailer, here.

Image source: innovationracemovie.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.