Clustering for 21st Century Prosperity Summary of a Symposium (2012) / Chapter Skim
Currently Skimming:
Panel VII: A Policy Roundtable - What Should U.S. Policy Be?
Panel VII: A Policy Roundtable - What Should U.S. Policy Be?
Pages 134-140
The Chapter Skim interface presents what we've algorithmically identified as the most significant single chunk of text within every page in the chapter.
Select key terms on the right to highlight them within pages of the chapter.
From page 134... ...
Moderator: Mary Good University of Arkansas at Little Rock and STEP Board Mary Good began the roundtable by inviting Rob James, Secretary General of Canada's National Research Council (NRC) , to offer some insights.
|
From page 135... ...
Such a term "would give a bit more of a reason for the existence of these things and gives groups and parties a real reason to come on board with a better understanding of why they are there." A national advisory body called the Science, Technology, and Innovation Council of Canada is now assessing cluster initiatives over the past decade, Mr. James noted.72 That body will suggest government policies for the next 8 or 10 years.
|
From page 136... ...
It really was on topics that are timely." She then opened the session to questions. Jim Hurd of Green Science Exchange observed that many other nations "are more command-and-control than we are." While it is difficult to discuss industrial policy in the United States, he said, "countries like China are happy to throw hundreds of millions of dollars and millions of people at a goal." William Harris of Science Foundation Arizona responded that the nation has reached a stage where it is not having a discussion.
|
From page 137... ...
That isn't because venture capitalists are opposed to travel, he said. It is because his firm interacts intensively with the companies it funds, "and you can't do that over great distances, despite modern communications and information technologies." Linking entrepreneurs to more interesting sources of technology is indeed a very hard problem, Mr.
|
From page 138... ...
"But now I'm discovering that to get them even further, there is another growing gap in the capital markets." For certain kinds of difficult technical innovations, it is now getting difficult to find funding at the post-seed level, the so-called Series A funding round, where larger venture funds would typically invest $3 million to $8 million. Programs such as ARPA-E can help to bridge some funding gaps, he said, but other barriers exist.
|
From page 139... ...
"If we repurpose some of those funds, where we could get a better return on investment, we could deal very adequately with the Valley of Death." For example, SBIR should double the level of funding it offers and increase investments for Phase III commercialization. "How do we impress upon this Administration, which is trying to stimulate the economy and grow new highpaying jobs, that there is a need to proactively address the Valley of Death right now and increase investment in innovative, entrepreneurial small businesses that have led job growth in America for the past five decades?
|
From page 140... ...
"It still basically is about public works, and it is still focused on laying sewer lines instead of really stimulating technology." Dr. Wessner concluded the proceedings by thanking the panel and Mary Good for her leadership.
|
Key Terms
This material may be derived from roughly machine-read images, and so is provided only to facilitate research.
More
information on Chapter Skim is available.