Science and Innovation Policy for the New Knowledge Economy

Science and Innovation Policy for the New Knowledge Economy

PRIME Series on Research and Innovation Policy in Europe

Edited by Massimo G. Colombo, Luca Grilli, Lucia Piscitello and Cristina Rossi-Lamastra

This timely book brings together cutting-edge research on the important subject of science and innovation policies. The contributors – distinguished social science scholars – tackle the key challenges of designing and implementing public policies in the context of the new knowledge economy.

Chapter 4: Evaluating Innovation Policies: A Case Study of the Impact of Third Stream Funding in the English Higher Education Sector

Alan Hughes, Barry Moore and Tomas Ulrichsen

Subjects: innovation and technology, innovation policy


Alan Hughes, Barry Moore and Tomas Ulrichsen* INTRODUCTION This chapter analyses the impact of a major public policy initiative to enhance ‘third stream’ interactions with external organizations in the private, public and voluntary sectors by English Higher Education Institutions (HEIs). Third stream activity refers to those activities that seek to engage more directly with users to exchange knowledge, including contract or collaborative research, spin-outs and licensing activity, personnel exchange, training courses and joint curriculum development, as well as social regeneration, public outreach, the provision of public arts and musical events and school-based activities. The policy was designed to provide a designated third stream of public support funding for HEIs to complement the existing two streams associated with teaching and research. Our analysis is designed to answer the question of whether the introduction of third stream funding flows secured cultural and behavioural changes towards third stream activities and enhanced the impact of the activities supported. It is concerned with assessing the impact of the initiative as a whole rather than specific projects or individual activities within it. Our analysis adopts an innovation systems approach to the activities analysed. In doing this we develop and apply recent advances in evaluation practice based on behavioural additionality to complement evaluation approaches based on models of market failure which typically focus on additionality in terms of inputs and economic impacts, such as job generation, company financial and innovation performance or the estimation of returns on investments. The analysis addresses a number of generic problems that...

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