Innovation Policy on a Budget: Driving Innovation in a Time of Fiscal Constraint

There are a number of ways to keep innovation going in the right direction even if funds are limited. They include regulatory reform, smarter tax policies, procurement reform, the better use of technology and more.

After record-setting spending to keep the economy from the brink of collapse, the public has grown wary, even hostile, to the idea of more government pump priming. Even those who advocate additional public investment face daunting budget constraints. Does this mean that government is hamstrung when it comes to spurring innovation? Not at all. In this report, ITIF lays out a nine key ways to keep innovation going even if funds are limited. They include regulations to encourage rather than inhibit innovation, smarter tax policies, procurement reform, better use of technology to drive innovation and more.