Today’s post is from Andrew Wyckoff, head of the Directorate for Science, Technology and Industry (STI) at the OECD. It follows the post by the World Bank’s Gerardo Corrochano about the Innovation Policy Platform on Friday, and is co-published here by the World Bank.
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 policy makers 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 freely than ever. This inevitably has impacts on the commercialisation of public research. Recent work we conducted at the OECD on this topic demonstrates the importance of channels other than patents for the commercialisation of public research. More...