The Innovation Imperative

The Innovation Imperative

National Innovation Strategies in the Global Economy

Edited by Göran Marklund, Nicholas S. Vonortas and Charles W. Wessner

As a result of globalization, strategies for investments in innovation capabilities have gained considerably in importance for businesses, research institutions and policymakers. Public policy has to provide conditions for investments in R & D and innovation that are internationally attractive and effective in stimulating innovation, economic growth and job-creation. This book focuses on the changing roles and challenges of innovation and growth policy, and the strategies and measures that are critical in a globalizing world. It provides guidance for innovation policy strategy formulations and design of innovation policy measures.

Chapter 8: About the US Advanced Technology Program

Marc G. Stanley and Christopher J. Currens

Subjects: economics and finance, economics of innovation, innovation and technology, economics of innovation, innovation policy


1 Marc G. Stanley and Christopher J. Currens 8.1 BACKGROUND TO THE ATP The US Advanced Technology Program (ATP) bridges the gap between the research laboratory and the market place, stimulating prosperity through innovation. Through partnerships with the private sector, ATP’s early-stage investment is accelerating the development of innovative technologies that promise significant commercial payoffs and widespread benefits for the nation. As part of the highly regarded National Institute of Standards and Technology (NIST), the ATP is changing the way industry approaches research and development (R&D), providing a mechanism for industry to extend its technological reach and push the boundaries of what can be attempted. Technology research in the private sector is driven by today’s global, economic realities. The pace of technological change is faster than ever before, and victory goes to the swift. These realities force companies to make narrower, shorter-term investments in R&D that maximize returns to the company quickly. The ATP views R&D projects from a broader perspective – its bottom line is how the project can benefit the nation. In sharing the relatively high development risks of technologies that potentially make feasible a broad range of new commercial opportunities, the ATP fosters projects with a high payoff for the nation as a whole – in addition to a direct return to the innovators. The ATP has several critical features that set it apart from other US government R&D programmes: ● ● For-profit companies conceive, propose, co-fund and execute ATP projects and...

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