Science Technology Innovation Policy

Jen Flagg and Improving the Quality and Quantity of Innovations: Moving from Lab Market poster.

We advocate emulating past STI policies that demonstrated success by funding industrial corporations to lead efforts targeted by national government sponsors, and supported by leading university scholars.

Informing STI Policy

Industry deliberately and systematically delivers innovative products and services to the marketplace through established best practice methods characterized by:

  • Addressing objectively validated needs by generating novel and feasible solutions
  • Drawing upon current scientific research discoveries and engineering development prototypes
  • Balancing risk constraints and return potential via efficient and effective project management 

Current STI policies attempting to deliver innovations with socio-economic benefit often fail to achieve the intended results because they ignore industry and instead are characterized by:

  • Funding projects with little market relevance, subjectively defined by scholars or entrepreneurs
  • Relying on the scope of knowledge held by the project champions and their peer group
  • Focusing on academic metrics or continuing funding as returns without commensurate risk

Government and Non-Profit agencies tend to rely on serendipity; assuming that sponsored project outputs will somehow and someway generate beneficial socio-economic impacts. But serendipity is not a reliable business plan.