Who controls the pace of innovation and why?

● WIPO (World Intellectual Property Organization) publishes Global Innovation Index (GII)
● WEF (World Economic Forum) ranks most innovative countries
● US, EU, and other policy makers accelerate or decelerate the pace of innovation in a specific industry or region. Examples of policies that limit or stimulate innovation are GDPR in EU, and Section 174 in US. Developing healthcare software for EU is significantly more complicated due to GDPR whereas HIPAA in US makes projects significantly simpler. GDPR limits innovation to ensure development is done ethically and responsibly. Section 174 drives efficient use of software development talent.
● Investors (actuators) look for opportunities based on the parameters coming from sensors (WIPO, WEF, etc) and controllers (US, EU, etc) to optimize ROI.
● The market acts as a feedback look for sensors, actuators, and controllers.