Add to that, the cost of innovations when one has to apply for patents,
which are very expensive, and you don't want to spend 20,000 or more on just the patents, and then sacrifice towards the development and implementation of your innovation.
But, the biggest hurdle to innovation is government, which can issue so many regulations to industry, that it becomes too much of a burden to even get started.
The article above has it mostly wrong as to why innovation is not occurring. There are plenty of people with ideas around, but, they can't even get started when it's so expensive and the massive number of regulations make people disenchanted with the process. Innovators may have the ideas, but, the development and implementation of them is being outsourced to other countries that don't put up so many barriers to the inventive mind.
