As policymakers consider the value of small business innovation programs, they should understand that their returns on investment are considerably larger than conventional estimates indicate.
Science and R&D
June 5, 2018
A growing number of policymakers and pundits appear now to understand that the United States’ lead in innovation is not as secure as it once was.
June 4, 2018
Business R&D growth over the past three decades has been anemic, and companies are focusing more on near-term product development, less on basic and applied research. Meanwhile, the U.S. government is cutting support for research while many other countries are expanding support.
January 8, 2018
All states, but especially the laggards, would benefit from policies to attract more industry research funding, particularly as such funding appears to generate technology-based economic activity.
December 11, 2017
Fact of the Week: Technology-Based Economic Development Programs Generated 1,300 Additional Tech-Based Jobs Per Year Between 1981 and 2000
For the average state, tech-based economic development programs provide an additional 1,300 tech-based jobs a year, while an additional year’s commitment to the SBIR provides 2,000 more jobs, writes John Wu in Innovation Files.
December 4, 2017
Innovation Fact of the Week: NIH Would Need an Additional $11.6 Billion to Bring its Funding Back to Where it was in 2003 as a Share of GDP
For the U.S. government to restore National Institutes of Health funding to a level comparable to 2003, it would have had to allocate an additional $11.6 billion dollars last year, writes John Wu in Innovation Files.
November 28, 2017
The number of technology-based start-ups surged 47 percent in the last decade. These firms still account for a relatively small share of all businesses, but they have an outsized impact on economic growth, because they provide better-paying, longer-lasting jobs than other start-ups, and they contribute more to innovation, productivity, and competitiveness.
November 28, 2017
Technology-based startups are key drivers of America’s economic growth because they make outsized contributions to employment, innovation, and productivity. Unfortunately, policymakers tend to focus indiscriminately on helping small business startups without specifically targeting technology-based startups that have high growth potential. How can policymakers support the formation and success of new technology firms at the national and local level?
November 6, 2017
Fact of the Week: Firms Located in Italian Science Parks Developed an Average of 5 More Patents Between 2004 and 2012 Than Firms Located Elsewhere
The average technology-based Italian businesses located in a science park cluster produced 5 additional patents when compared to a similar business not located in a science park, writes John Wu in Innovation Files.
October 23, 2017
Fact of the Week: The Gap in ICT Investment Between the United States and Canada Widened by 12 Percentage Points From 2008 to 2014
While private investment in ICT per Canadian worker has been lower than U.S. levels since the 1980s, it has dropped to new lows in recent years, writes John Wu in Innovation Files.
October 16, 2017
Fact of the Week: In Developing Countries, Increasing the Availability of Bank Credit Raises the Probability a Firm Will Invest in R&D by 7.6 Percent
Adding 10 more bank branches per 100,000 adults in developing economies increases the probability that businesses will invest in R&D by 7.6 percent, writes John Wu in Innovation Files.