There are many ideas about what's going to drive a sustained recovery of the American economy, and what should be done to support this growth: small businesses creating jobs, therefore banks should lend more to them; consumer spending, therefore banks should be careful how tightly they lockdown credit; the recovery of the real estate market, as institutions work through bad loans on their books.

But John Pyrovolakis, a founder of the still-stealth Innovation Accelerator, believes innovation is a key to recovery and maintaining America's ongoing competitiveness in the global economy. The Utah-based Innovation Accelerator is the private half of a public/private partnership that mentors startup companies that have received grants from the National Science Foundation (NSF), particularly startups in the financial services arena.

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