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The crown jewel of the U.S. university system – the finest in the world – is the research university, where knowledge creation is the ultimate goal. Recognition of the centrality of knowledge creation to economic growth makes the efficiency of university innovation a top concern to policymakers, especially since the federal government funds two-thirds of the $48 billion of R&D performed in academic institutions. In too many universities, commercialization of research discoveries is not as rapid or as successful as it could be. The solution provided by Technology Transfer Offices (TTO) has been mixed, as too many have been directed to focus on maximizing revenue through patent licensing, leading to a sub-optimal level of technology diffusion. In the face of declining funding of basic science research, venture capital migration to downstream opportunities, and heightened competition from abroad, the optimal commercialization of U.S. university innovations could not be more important.
Cost-effective “infrastructures” – both physical and legal – provide the essential platforms for the activities of all economies. In the physical realm, for example, it is hard to imagine life without roads, communications networks, airports, ports, sewer systems and electricity grids. Because of their “public good” nature, government plays a central role in financing, if not operating, such infrastructure facilities. In turn, because so much infrastructure is local, the planning and construction of many projects historically has been delegated to the states (although aided by federal financing).
While full data for 2008 investments are not yet in, the picture from the Angel Group Confidence Report is that total angel group investments in North America are estimated to decrease by at least ten percent from 2007. Angel groups appear to be focusing more...
Endeavor, a leading non-profit that support high-impact entrepreneurs in emerging economies, has recently asked its partner companies for their views on where the global economy is heading. Like angels, venture capitalists and many others, they are feeling fairly pessimistic. The surveyed entrepreneurs are already feeling...
The National Venture Capital Association (NVCA) has released its annual predictions for the venture capital industry in 2009, and the findings should not come as a big surprise. Venture capitalists (VCs) expect 2009 to be a difficult year. A large majority predicts a slowdown...
Great Britain’s Department of Innovation, Universities, and Skills has taken a close look at Britain’s innovation performance in its newly released Annual Innovation Report 2008. This first annual report follows up on the British government’s Innovation Nation White Paper published in March 2008 and the...
The latest edition of Booz Allen Hamilton’s Global Innovation 1000 was released earlier this month. The list ranks and assesses the world’s 1000 biggest corporate research and development (R&D) investors. The globalization of R&D is the big trend found among this year’s top R&D...
Entrepreneur magazine’s 2009 Franchise 500 has just been released. Subway takes the top spot in 2009, topping 2008’s top franchise: 7-Eleven. Subway, which operates more than 30,000 restaurants in 87 countries, has long dominated the Franchise 500 list. It has held the top spot...
The Wall Street Journal’s entrepreneurship blog, The Independent Street, has made its predictions for what might happen in the world of entrepreneurship in 2009. As with all economic sectors, the world of entrepreneurs will be dominated by how they respond to the economic downturn. As...
What factors differentiate fast-growing national economies from the rest of the world? A new article in the World Bank’s Finance & Development magazine examines 13 national economies that have succeeded in growing at an average annual rate exceeding seven percent for at least 25...
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