King County is a major center for research and development (R&D) for the Pacific Northwest. The University of Washington is one of the top research and development facilities in the nation. Other technology development organizations are Fred Hutchinson Cancer Research Center, the Washington Technology Center and the Human Interface Technology (HIT) Laboratory. In the private sector, several hundred firms conduct research in Washington State, and at least half of these firms have facilities in King County.

According to the 2005 Index of Innovation and Technology report, Washington ranks 9th out of 11 regions in aggregate funding. The majority of venture capital investments went to the software, telecommunications and semiconductor companies. These industries caputured around 69% of the total investment. The medical and life science firms received 16% of the venture capital investment, followed by the biotechnology industry which received 15% of the funding.