Commercializing public research: One of the core subjects of the Innovation Policy Platform
February 5, 2014 Editor 0On January 16, the World Bank welcomed a delegation from the Organisation for Economic Cooperation and Development (OECD), led by Andrew W. Wyckoff, the director of the OECD’s Directorate for Science, Technology and Industry (DSTI). Over the past two years, the World Bank Group and the OECD have developed a strong partnership as part of our effort to build the Innovation Policy Platform (IPP). The OECD delegation’s visit took place within the framework the launch the IPP, which included a stimulating conference on inclusive innovation with MIT’s Scott Stern as the keynote speaker. This post by Andrew W. Wyckoff, on the importance of public research commercialization to innovation, was originally published on the “OECD Insights” blog.
Do you know what FedEx, the well-known overnight shipping company, and Dell Computers, a multinational technology company, have in common? Both firms’ core business ideas were developed by young student entrepreneurs. There are many other stories out there illustrating that universities and other public research institutions (PRIs) are a major source of innovations.
In searching for new routes to growth, policymakers around the globe invest high hopes in public research. A premium is being placed on the contributions of public research to the creation of new knowledge capital. The way universities and PRIs operate is also changing, including notably the mechanisms and terms on which universities and PRIs are engaging with business and society. We also see that innovation is becoming more open and collaborative, and that knowledge circulates more quickly and more freely than ever. This inevitably has impacts on the commercialisation of public research.
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Categories: World Bank PSD
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