American business leaders are warning that the country's historic innovation edge is at risk unless companies and policymakers address underinvestment in people, restrictive federal policies, and a declining emphasis on scientific research. The concerns were raised at the annual meeting of Fast Company's Impact Council, a 300-person collective of executives from major companies, held at Grace Farms in New Canaan, Connecticut.
The daylong workshop brought together council members to assess America's innovative past, present, and future, with panels and roundtables focused on the future of the workforce and how to rebuild the country's competitive edge. The discussion came as the United States approaches its 250th anniversary, a milestone that prompted reflections on the nation's legacy of risk-taking and ingenuity.
Several executives pointed to a troubling shift in the national attitude toward science and research. Gordon Boggis, CEO of Carnegie Fabrics, identified the greatest threat to long-term competitiveness as a movement away from valuing scientific research, which he said could make the U.S. a less attractive place to innovate and lead to brain drain to other parts of the world. «I hope I'm wrong, as I've always found innovation to be key to growth across all the companies I've led, but we need to be watchful,» he said.
Deirdre White, president and CEO of Pyxera Global, argued that the single greatest threat is underinvesting in people. She said staying competitive requires preparing leaders who can work across cultures, understand different business environments, and collaborate across disciplines. Liam Ryan, CEO of StreetLeaf, added that his generation must pick up the torch of competitive innovation or risk losing it entirely.
Jean-Claude Brizard, president and CEO of Digital Promise Global, noted that the U.S. still benefits from extraordinary wealth, world-class institutions, and deep access to global talent, but warned that federal policy and bureaucracy are creating headwinds in key areas such as immigration, renewable energy, and support for leading research universities.
Others emphasized that innovation cannot be treated as a side project. Ndidi Oteh, CEO of Accenture Song, said businesses must value innovation as much as they value the bottom line if they want it to drive growth, calling for it to be core to business strategy. Phillip Haid, founder and CEO of Public, stressed that scaling innovation is extremely difficult and requires an ecosystem of partners, suppliers, funders, timing, incredible people, and the right regulatory environment. «I think we underplay how much is needed to innovate,» he said.
On the global stage, Bo Zhao, founder and CEO of Baby Gear Group, described the U.S. as a «startup» compared to many nations, urging a focus on building innovation systems and incentives that remain strong and adaptable across generations. Muneer Panjwani, CEO of Engage for Good, identified India as a rising competitor, noting that the caliber of entrepreneurs and companies emerging there is increasingly comparable to what you would find in the U.S.
Business leaders also weighed in on their role in shaping policy. Todd James, founder and CEO of Aurora Insights, said leaders need to create room for experimentation where failure is acceptable before something is scaled, not after it creates real risk. Joe Scantlebury, president and CEO of Living Cities, said business leaders can advocate for policies that expand access to capital and grow business ownership.
Looking ahead, Ed Mitzen, founder of the Business for Good Foundation, highlighted quantum computing as a strategic national security priority. He noted that the Commerce Department committed about $2 billion in CHIPS Act incentives, with equity stakes, to nine companies, framing quantum as a key race against China. Mitzen also pointed to energy as a defining industry, saying that while AI gets the headlines, the strategic underpinning is how to meet extraordinary energy demand, because AI cannot scale without abundant, affordable, and reliable power.
The council's discussions underscored a shared view that maintaining America's innovative edge will require deliberate action from both business and government. Regan Parker, chief legal and public affairs officer at ShiftKey, said the best and most innovative people can see around corners and anticipate longer-term impacts, and that experts should advise policymakers to ensure progress is both fast and responsible. Xiaodi Hou, founder and CEO of Bot Auto, added that the effort lies in understanding your business deeply enough to tell safety from ritual, and in respecting the experience already encoded in standards and regulations.