Navigation Links
How will government spur technological innovation in the 21st century?
Date:1/31/2008

Washington, DC Renewed interest in federal support for high-risk, high-reward research and development requires a re-evaluation of federal venture capital programs, concludes a new white paper released today by the Foresight and Governance Project at the Woodrow Wilson International Center for Scholars. Innovative funding models developed by the Central Intelligence Agency, National Aeronautics and Space Administration and the Army offer blueprints for encouraging the development of new technologies, but a new framework is needed to guide the creation of public sector venture capital programs in the future.

The white paper, Washington Goes to Sand Hill Road: The Federal Governments Forays into the Venture Capital Industry, was written by Dr. Athar Osama, a senior consultant for the United Kingdom-based consulting and venture capital firm ANGLE Plc. and a former doctoral fellow at the RAND Corporation. The paper is available at http://www.wilsoncenter.org/topics/docs/ResearchBrief_Osama_final.pdf

Innovative funding approaches for science and technology have benefits that go beyond the traditional government approaches to grant making, says David Rejeski, director, and Evan Michelson, research associate, at the Foresight and Governance Project. These approaches can address long-range technological challenges, create dynamic and interdisciplinary teams, and reward creative, out-of-the-box thinking.

But government-funded venture capital efforts cannot operate like similar private-sector models. More often than not, managers of non-traditional venture-creation programs cannot be incentivized through financial rewards, says Dr. Osama. This can reduce their motivation to succeed. Understanding how differences in incentive systems play into the process is important for the design of a successful program.

In the paper, Dr. Osama offers criteria that could help design effective public sector venture funding initiatives. These criteria include policy and business objectives; relationships with other sources of capital and ideas; investment philosophy; management style and operating philosophy; structure and incentives; and exit and sustainability.

The fate of federal venture programs and, for that matter, any public policy intervention must be decided on the basis of rigorous economic and policy evidence wherever such evidence exists regarding their effectiveness, rather than entirely on a set of fuzzy ideological criteria of what a government should and should not do, said Dr. Osama.


'/>"/>

Contact: Colin Finan
colin.finan@wilsoncenter.org
202-691-4321
Project on Emerging Nanotechnologies
Source:Eurekalert

Related biology news :

1. Mountain pine beetle: Canadas new government delivers
2. Office of the Director of National Intelligence, CIO to Speak at Government Security Conference
3. Amid spiralling government interest, worlds top 350 DNA barcode scientists meet in Taipei
4. Amid spiralling government interest, worlds top 350 DNA barcode scientists meet in Taipei
5. Office of the Director of National Intelligence, CIO to Speak at Government Security Conference
6. Nobel Peace Prize 2007 to intergovernmental panel on climate change
7. Meeting real-world climate information needs of business, government
8. US government delays nanotechnology safety measures
9. Titanium Group to Showcase Products and Technologies in Prestigious Government Seminar
10. IEEE-USA innovation forum will help prepare US tech leaders to prosper in a global marketplace
11. First IEEE-USA Innovation Forum coming to Washington area in November
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2017)... ARMONK, N.Y. and ITHACA, N.Y. ... IBM ) and Cornell University, a leader in dairy ... combined with bioinformatics designed to help reduce the chances ... breaches. With the onset of this dairy project, Cornell ... the Consortium for Sequencing the Food Supply Chain, a ...
(Date:5/16/2017)... 2017   Bridge Patient Portal , an ... MD EMR Systems , an electronic medical record ... have established a partnership to build an interface ... GE Centricity™ products, including Centricity Practice Solution (CPS), ... These new integrations will allow healthcare delivery networks ...
(Date:4/18/2017)... , April 18, 2017  Socionext Inc., a global expert in ... media edge server, the M820, which features the company,s hybrid codec ... provided by Tera Probe, Inc., will be showcased during the upcoming ... NAB show at the Las Vegas Convention ... Click ...
Breaking Biology News(10 mins):
(Date:10/11/2017)... ... October 11, 2017 , ... ComplianceOnline’s Medical Device Summit is back for ... June 2018 in San Francisco, CA. The Summit brings together current and former FDA ... board directors and government officials from around the world to address key issues in ...
(Date:10/11/2017)... ... October 11, 2017 , ... A new study ... in frozen and fresh in vitro fertilization (IVF) transfer cycles. The ... IVF success. , After comparing the results from the fresh and frozen transfer ...
(Date:10/10/2017)... ... 2017 , ... Dr. Bob Harman, founder and CEO of VetStem Biopharma, ... The event entitled “Stem Cells and Their Regenerative Powers,” was held on ... DVM, MPVM was joined by two human doctors: Peter B. Hanson, M.D., Chief of ...
(Date:10/9/2017)... 2017  BioTech Holdings announced today identification and ... ProCell stem cell therapy prevents limb loss in ... demonstrated that treatment with ProCell resulted in more ... compared to standard bone marrow stem cell administration.  ... reduction of therapeutic effect.  ...
Breaking Biology Technology: