As an Arizona State University (ASU) student, the fact that ASU is ranked #1 in innovation is really pushed on us. It is on the side of the shuttles that take students between campuses, it is on stickers, signs, t-shirts, and anything else they could get their hands on. Those signs never say what it truly means to be #1 in innovation, so I did some research to break it down.
Every year, U.S. News send out an assessment to some of the top academics including college presidents, provosts, and admissions deans. Those people are to nominate up to 15 colleges or universities who are making "innovative improvements in terms of curriculum, faculty, students, campus life, technology or facilities." I always thought it was how many patents or startups come out of the university, but I was mistaken. It has to do with what revolutionary ideas the university is having in terms of education, and how well they are implementing those ideas. I also had no idea that it was up to the peers of the university to nominate the winner for receiving the title.
Having titles like #1 in innovation is more than a title for these universities. It allows their name to pop up at the top of the list of potential students put that characteristic as something that is important to them. On the U.S. News Website, you are able to enter different characteristics you are looking for in a school, and the ones that pop up at the top are the ones that they are most likely to look more into, and probably even apply to. It is all about money. The university sees making those "innovative" changes as an investment in attracting more of the best students in the country, as well as being able to gain a reputation that will allow them to be one of the most respected universities.