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Many Americans take this as a given: The U.S. is the world's most valuable and innovative country.

The rest of the world doesn't. South Korea, Japan, and Germany each spend more than the U.S. on research and development as a percentage of GDP. And 14 of the 20 top contributing cities to global venture capital growth are outside the U.S., according to a report from the Center for American Entrepreneurship.

My colleague Leigh Buchanan recently delved into this topic, and found that if you're an American entrepreneur, you're about to face some serious challenges from abroad--if you aren't already. The twist: That competition could actually be healthy, especially if you visit and learn from your foreign counterparts.

"Foreign entrepreneurs needn't be the enemy," Buchanan writes. "They offer U.S. companies access to ideas, talent, and diverse perspectives."

Recent findings from the National Bureau of Economic Research back up that thesis. Researchers tested American-born entrepreneurs and immigrant entrepreneurs residing in the U.S. in 16 categories, from innovation activities to research and development efforts. Immigrant entrepreneurs scored higher in every category but one (ability to secure trademarks and copyrights).

Innovation isn't a zero-sum game. So while your company can--and must--try to beat your competitors abroad, you can also join them.

Here's what else I'm reading today: