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ITIF, Brookings Urge Expansion of TBED Support

December 14, 2016
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To ensure economic growth and the success of the industries of tomorrow, the U.S. government needs to expand federal support for research and improve the efficiency of the process of federally funded knowledge leading to U.S. innovation and jobs, according to a recently released study by the Information Technology and Innovation Foundation (ITIF) and the Brookings Institution’s Bass Initiative on Innovation and Placemaking. In Localizing the economic impact of research and development: Policy proposals for the Trump administration and Congress, ITIF and Brookings suggest 50 policy proposals that the new administration and Congress can undertake to bolster tech transfer, commercialization, and innovation.

 Competition among countries to lead in the innovation field have intensified and the increasing complexity of technological innovation means the federal government must “step up its game when it comes to technology commercialization policies and programs,” the study’s authors assert.

The report’s 50 action items align with five major policy imperatives:

·        Strengthen innovation districts and regional technology clusters;

·        Bolster institutions supporting tech transfer, commercialization, and innovation;

·        Expand technology transfer and commercialization-related programs and investments;

·        Promote high-growth, tech-based entrepreneurship; and

·        Stimulate private-sector innovation.

policy recommendations