President Obama Lays Out Strategy for American Innovation

At the Hudson Valley Community College, president Barack Obama deliver remarks on his commitment to fostering new jobs, new businesses, and new industries by laying the groundwork and the ground rules to best tap our innovative potential.

The President's innovation strategy has three parts:

1) Investing in the Building Blocks of American Innovation -- from research and development to the human, physical, and technological capital needed to perform that research and transfer those innovations.

2) Promoting Competitive Markets that Spur Productive Entrepreneurship -- creating a national environment ripe for entrepreneurship and risk taking that allows US companies to be internationally competitive in a global exchange of ideas and innovation.

3) Catalyzing Breakthroughs for National Priorities -- in sectors of exceptional national importance -- alternative energy sources, reducing costs and improving lives with health IT, and manufacturing advanced vehicles -- government can be part of the solution.