international

U.S. clusters looking to collaborate with European clusters are invited to an event taking place in Washington, D.C., during the TechConnect World Innovation Conference, on May 16, 2017. The seminar and matchmaking event is being organized by the European Cluster Collaboration Platform and BILAT USA 4.0. BILAT USA 4.0 seeks to support transatlantic cluster cooperation for strategic business partnerships and enhance, support and further develop the research and innovation cooperation between the European Union and the U.S. Participants will be presented with an overview of different possibilities for funding to develop or enhance international cluster cooperation activities. During the meeting, clusters, EU and US policy makers, and research and innovation experts can learn about successful collaboration with European clusters, research institutes and companies. More information on the program can be found here, and the registration deadline is May 5.

U.S. companies spent 18 percent of their research and development dollars outside of the United States in 2013, according to data recently released by the NSF. The $73 billion in foreign R&D is concentrated in the information industry, pharmaceuticals, semiconductors, and automobiles and parts. Those four industries accounted for 52 percent of all foreign R&D performance by U.S. companies, while those same industries were less concentrated in the U.S., representing 45 percent of the total domestic R&D performance. The United Kingdom and Germany are the two countries receiving the largest amount of foreign R&D performance by U.S. companies, with Europe as a whole representing nearly half of the total. The Asia and Pacific region accounted for another 31 percent, with India and China being the two largest locations in the region for foreign R&D performance. Data are from the Business R&D and Innovation Survey (BRDIS), cosponsored by the National Center for Science and Engineering Statistics within the National Science Foundation and by the Census Bureau.

Megatrends like ageing societies and digitization are expected to shape future research and development agendas across the globe, according to a recent report by the Organisation for Economic Co-operation and Development (OECD).  A broader distribution of science, technology and innovation are expected around the world due to the fast pace of economic development in emerging economies, and global competition for talent and resources will most likely intensify according to the OECD Science, Technology and Innovation Outlook 2016. Such megatrends, and others highlighted in the report, require policy responses that will likely face major constraints, including high public debt, international security threats, a possible erosion of social cohesion and the rise of influential non-state actors, the report maintains.

The European Union (EU) will commit €240 million (approximately 265 million USD) to create a nonprofit Research and Innovation Institute in Greece that will fund research and innovation to support the country’s efforts to pull it out of prolonged recession and create new high-paying jobs, according to the University World News. In addition to broadly supporting research and innovation, the Research and Innovation Institute is intended to spur private sector investment in participating academic institutions, research centers, companies, and scientists by reducing the risk that currently exist due to the Greek debt crisis. Through the European Investment Bank, the EU will make an investment of €180 million (approximately 201.2 million USD) at an interest rate which could be 0.7 percent to 0.8 percent. The Greek government will be responsible for contributing the remaining 25 percent (€60 million, approximately $67.1 million USD). Read the article…

A recently released report finds evidence that Canada’s tech sector – when properly defined – plays an important role in the nation’s economy. In The State of Canada’s Tech Sector, authors Creig Lamb and Matthew Seddon develop a definition of the tech sector based on those industries employing an oversized share of technology occupations. Ultimately, they suggest that the sector is responsible for $117 billion (88.9 billion USD) in economic output, roughly on par with finance and insurance and construction as a percent of total GDP (7.1 percent).

Around the world, accelerator programs continue to multiply, prompting the need for continued research on what they are, how they operate, and how they can be evaluated. The Global Accelerator Report 2015, recently released by Gust and Fundacity, highlights the global development of the accelerator industry and includes details on how accelerators are funded and insights into the industry’s future. The report, which examines accelerator programs in five regions, includes several ways to characterize the global industry, including profit structure, monetization sources, corporate partnerships, and exits. A separate analysis, as featured in CB Insights, suggests the importance of follow-on funding as a measure to evaluate accelerator programs.

When Canadian Prime Minister Justin Trudeau released his administration’s proposed 2016 budget in late March, SSTI covered the significant funds it would allocate for science, research, and technology-based economic development, as well as the country’s plan for a national innovation agenda. To guide this forthcoming agenda, the Canadian government recently announced six priority areas of action, as well as its intent to conduct a series of engagement efforts that collect additional insight from the public. Central to their plan is the launch of a fully interactive website that will provide Canadians with the ability to offer their own views on how Canada can best support innovation and to vote on ideas that others presented. 

In an attempt to support their respective  innovation economies, several countries have announced new national investment strategies and other entrepreneurial support efforts that help startups access the capital necessary to move their business from an idea to a sustainable businesses. Efforts include a fintech focused-fund in Ireland, expansion of existing programs in two Oceanian countries, and a partnership between two of Asia’s largest economies.

While the first quarter of 2016 was slow for venture capital investments in the United Kingdom (UK), recent weeks have seen significant new developments in both financing and converting technologies from six UK universities into the marketplace.  The goal of these new funding initiatives is, in part, to improve the survival rate of small- and medium-sized businesses (only 45 percent of all UK startups survive beyond the first five years).

New Canadian Prime Minister Justin Trudeau released his administration’s 2016 proposed budget last week which, if passed, would allocate significant funds to scientific research and technology-based economic development. Throughout 2016 and 2017, the Canadian government will continue to develop an Innovation Agenda that fully describes their intentions, though the goal of developing an innovative and clean economy is one of the key pillars of the proposed budget. In total, C$2.3 billion (1.8 billion USD) would go toward strengthening science and research, while an additional C$334 million (257.2 million USD) would help to support business growth and innovation.