The Importance of the Innovation Ecosystem

The innovation ecosystem in the United States, while arising from a mixture of private investments and publicly funded R&D to varying degrees, has largely been a market-centered system. A strong system of intellectual property rights has incentivized innovation by both small and large firms allowing the U.S. to achieve technological leadership in key areas important to both economic prosperity and national security. As the race for technological leadership between the U.S. and China intensifies, the U.S. is increasingly relying on industrial policy measures to promote the resilience of its economy and foster its global position. While both small and large firms are needed for a healthy innovation ecosystem that would enable the United States to continue to compete and lead at the global level, many debate what are the most effective policies to compete and thrive. Intellectual property rights are one of the most important tools that governments in market-driven economies have to incentivize investments in innovation, to commercialize this innovation, and to achieve technological leadership. Yet, the key role of this legal tool is often neglected in today’s policy discussions, as measures that undermine reliable and effective patent rights keep re-emerging in policy proposals again and again.

Can a move away from a market-centered system in the name of resilience be a winning solution for the United States? What can policy makers do to foster a diverse and dynamic innovation ecosystem?
Would a move away from a system that for centuries has enabled U.S. innovators to compete and thrive globally be beneficial for the United States? Should U.S. policy makers give greater weight to intellectual property rights as tool to foster U.S. global technological leadership?

Join Duke University, Hudson Institute, and ITIF for a daylong roundtable featuring experts in the innovation ecosystem, from academia to the think tank community, as they explore these and other questions.

Agenda

9:00-9:30 am: Coffee/Networking

9:30-9:45 am: Introduction - Rob Atkinson, ITIF and Adam Mossoff, Hudson Institute

9:45-10:00 am: Welcome - Ashish Arora (Evolution of the Innovation Ecosystem)

10:00 am-12:00 pm: Session 1—The Role of the Public Sector vs the Private Sector in the U.S. Innovation Ecosystem

Academic speakers: Sharon Belenzon (Duke), Megan Macgarvie (BU), Mark Cohen (Berkeley), Larisa Cioaca (Duke)

12:00-12:30 pm: Lunch

12:30-1:00pm: Keynote Remarks

1:00-3:00 pm: Session 2—The Role of Firm Size and Competition in the U.S. Innovation Ecosystem

Academic participants: Jorge Guzman (Columbia), Jungkyu Suh (NYU), Jonathan Barnett (USC), Avi Goldfarb (Toronto), Dror Shavdron (Duke)

3:00-3:30 pm: Coffee/Networking Break

3:30-5:30 pm: Session 3—The Role of Intellectual Property Rights in the Innovation Ecosystem

Academic participants: Kristen Osenga (Richmond), Mark Schankerman (LSE), Hong Luo (Harvard), Alberto Galasso (Toronto), Honggi Lee (New Hampshire)

5:30-6:30 pm: Cocktail Hour