The Impact of Lemelson-MIT Prize Winners' Inventions
Lemelson-MIT Prize winning inventors have had a significant impact on our society, economy, and culture according to a 2021 study by the RAND Corporation called, "Measuring the Value of Invention."
In this report researchers use the inventions of Lemelson-MIT Prize winners as examples to illustrate the scientific, technological, economic, and social impacts of inventions. The inventions discussed have spawned new products, companies, and in some cases, entirely new industries. Research also demonstrates that there are many different paths to the successful development and commercialization of inventions. The report also shows a lack of exposure to role models and support networks is limiting inventor diversity, and suggests that programs and policies that support the development of both inventions and inventors remain important for ensuring opportunity.
