Rising to the Challenge U.S. Innovation Policy for the Global Economy (2012) / Chapter Skim
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Not only have these nations placed massive bets on research and higher education, they have also unveiled comprehensive national strategies to build innovation-led economies. Governments everywhere are adopting, adapting, and in some cases improving aspects of America's innovation ecosystem that have long been the envy of the world, such as close collaboration between universities and business, deep pools of risk capital, and effective programs that encourage researchers to start up their own companies.
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The good news is that this opens genuine opportunities for international collaboration that can help solve global health, environment, and energy challenges, as well as enable companies to accelerate product development. But the globalization of innovation capacity is also undermining traditional assumptions that have guided U.S.
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Over the past several years, the Board on Science, Technology, and Economic Policy of the National Academies has engaged in an extensive dialogue on science, technology and innovation policy with countries that place a high priority on innovation. America's competitive challenge comes into clearer focus when the strong measures taken by other nations to improve their innovation capacity are contrasted directly with the flagging U.S.
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trading partners understand that a domestic industrial base that can produce advanced products in high volumes is integral to maintaining global competitiveness in innovation and next-generation technologies. Nations and regions as diverse as Germany, Japan, Taiwan, and South Korea are showing it is possible to remain successful exporters in advanced manufacturing despite relatively high labor costs.
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• Rising Neo-Mercantilism: Countries such as China and South Korea employ a powerful combination of state subsidies, national standards, preferential government procurement for national firms, and requirements for technology transfer to drive the growth of nationally based innovation. They also encourage state- owned or –supported enterprises to compete globally in strategic emerging industries with the help of low-cost loans -- often with little concern for near-term return on investment or overcapacity.
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Most of the new pro-innovation programs have short time horizons and may well lack sustainable long-term funding. Federal programs also lack the scale and comprehensive approach needed to enable America to rise to meet the acute competitive challenges posed by the rapidly evolving global innovation landscape.
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Proven programs such as SBIR and ATP (or its successor, the Technology Innovation Program) , which provide small competitively based innovation awards to small firms or consortia, should be sustained, expanded, and adequately funded.
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The U.S. also needs to assess and draw policy lessons from successful cluster efforts and communicate best practices to those managing regional initiatives.
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Build a 21st Century Innovation Infrastructure: The U.S. should increase dramatically investment in state-of-the-art broadband networks and other infrastructure required to maintain American leadership in a 21st century global knowledge economy.
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(Recommendation 7b.) Monitor and Evaluate Investments, Measures, and Innovation Policies of other Nations: In a world where other nations are investing very substantial resources to create, attract and retain the industries of today and tomorrow, the United States needs to increase its understanding of the swiftly evolving global innovation environment and learn from the policy successes and failures of other nations (Recommendation 1.)
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This will require support Box O-1 Four Core Goals 1. Monitor and learn from what the rest of the world is doing: The United States needs to increase its understanding of the swiftly evolving global innovation environment and learn from the policy successes and failures of other nations.
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But in a world where other countries are rapidly developing their own innovation capacities, these advantages alone will not guarantee America's future competitive advantage. Other governments are assertively shaping policies and programs to change the competitive landscape in their favor.
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OVERVIEW 13 strongly urge a reformulation of U.S. innovation policies to address this changing competitive environment.
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