OECD. In addition, tools such as multicriteria decisionmaking and social return on investment analysis may allow policymakers to take explicitly into account the social innovation aspect of their decisions
The Foreign Direct Investment Strategy...18 Policy implications: Broadening Government Support and Coping with the Diversity of Needs...
investment, international capital flows, and inter-country labour mobility. But in order to answer how these 1. During the last five years, SMES were responsible for more than 80%of the jobs created (European SME co
Investment in innovative activities seems to be on the rise in SMES. The National Science Foundation (1999) shows that total expenditures for industrial R&d by SMES has increased by almost
and not limited to formal R&d investments 20. In a more systematic approach to understanding innovation in SMES, the European community
that the pattern of innovation in SMES is mostly non-R&d investment based. Only as firm size increases
does the importance of R&d investment in innovation increase too. For SMES, non-R&d inputs are more
SMES are thus a large and very heterogeneous group of firms whose investments in and use of
which may or may not involve own investments in R&d â'The information technology strategy, which makes innovative uses of information technology
â'The foreign direct investment strategy, in which SMES exploit firm-specific ownership advantages abroad
For example, if the unit of observation is countries, the relationship between R&d investments and patenting is very strong.
also tend to undertake high investments in R&d. By contrast little patent activity is associated with
therefore able to appropriate some of the returns accruing to investments in new knowledge made
order to recoup your R&d investment "11 "The Little Guys Are Making It Big Overseas,"Business week, 27 february 1989, pp. 67-69
Foreign direct investment plays a central role in these companies. And their five -year revenue growth was 16.2,
They investment abroad in plant, equipment, and technology, and they investment in people. Even when a high initial investment may not be justified in terms of short-term returns, the small
and medium-sized enterprises consider it important to undertake such global investments because of the demonstration effect--to show potential customers and business partners that they are committed to the
local economy. The Mittelstand companies also espouse a strategy whereby they insist on the same high
standards in the host market as they do in the home market, particularly in servicing their production
careful devotion to consumer needs, that makes a strategy of foreign direct investment so central to the
because it maximises the ability of firms to appropriate economic value accruing from their investments in
and high investments in human capital â'Continual innovation. Both the nature of the products,
experienced high levels of investment into process technologies, particularly in manufacturing automation NC, CAD-CAM,
The Foreign Direct Investment Strategy 62. There is considerable evidence that the transnational economic activities of SMES have been
Not only has the absolute value of foreign direct investment activities by small and medium-sized enterprises increased over time,
but so has their share of the total foreign direct investment at least in several countries including Italy, The netherlands and Japan
The effectiveness of a foreign direct investment strategy for enhancing SME competitiveness is shaped by three fundamental sets of factors.
Examples of this new policy approach include measures to encourage R&d investment venture capital creation, and the rapid establishment of start-up firms.
As for SME specific measures, a great emphasis is placed now on promoting investments in innovation.
available for access to or investment in innovation and new firm creation. Perhaps best known is the Small
Governments should encourage such a trend by improving the conditions for private capital investments to
rating that would help reduce the uncertainty that limits private sector investments in high risk innovation
investments of leading technology users (i e. they do not substitute the existing R&d budgets 82.
and provide a greater financial incentive for private investments in R&d. The problem is that technology followers do not under-invest in R&d,
-investment in R&d. Instead, public support should be used to â€oelegitimise†the role of innovation agents
investments. In a departure from extant research (Kreiser, 2011; Lee, et al. 2001; Stam & Elfring, 2008;
In spite of these risks, a firm that nurtures its ties through the necessary investments in relationship building and knowledge sharing might stand to benefit more from its linkages than a
firm that makes little investments in its ECTS. While both ICTS and ECTS carry risks, the risks
and ECT development should be treated as an investment that enhances innovation While research on clusters have focused traditionally on ICTS,
reflects the commitment to high-risk investment or the willingness to invest resources into unpredictable opportunities, after they have been identified by proactive-oriented firms.
degree of risk taking though investment of time, money, and effort, the rate of innovation will
3. 2 Innovation investments In terms of share of investments allocated to innovation from the total enterprises investments almost half of
SMES (44,93%)have not directed funds to innovation (see table 1 The lack of funds assigned to innovation investments combined with the fact that considerable part of the SMES are
not involved in innovation activities may present a serious problem for a healthy evolution of these enterprises
SMES by share of investments allocated to innovation SMES 44.93%25.84%16.77%6. 85%4. 21%1. 19%0. 22
%Share of investments Allocated to innovation 0%1-5%6-10%11-20%21-50%51-75%>75
Investments in innovation may lead to competitive advantage so the lack of funds or insufficient funds allocated to innovation is a real problem
are the share of investments allocated to innovation and the share of turnover generated by new products and
A large number of enterprises did allocated not funds for investments in innovation (44.93%.%Taking into consideration the share from the company turnover generated by new products/services introduced to market in the
the Investment Promotion Agency (EXTENDA; the Andalusia Institute of Technology (IAT; the Andalusia Technological Corporation (CTA;
and investment (national and foreign Entrepreneurship Entrepreneurial culture is improving in the region There is a low but growing level of entrepreneurial culture in the region.
investment flows) in Spain post-1959 and the Stabilisation Plan ending two decades of autarchy and
Relatively low levels of investment in the region accompanied this exodus of 1. 6 million people over 30 years between 1955 and 1985.
capital investments and lower internationalisation that are both typical of economies overly reliant on services Figure 4. Andalusia's GVA trends by sector, 2001-2009
beyond R&d investment, poor progress in this field jeopardises the future development of the region Trends in R&d expenditure (Fig. 4) show that over the last twenty years Andalusia has converged not
In particular, private investments in R&d are still too low and marginal (0. 38%of regional GDP, compared to 0. 71%nationally),
attraction of domestic and international investments; support of business innovation and enterprise development; protection of regional intellectual property through advice on IPRS
Not surprisingly, then, investment by firms in their employees†human capital has been shown to encourage innovation and entrepreneurship (Sevilier, 2006
One major impetus was the USD 500 million investment by British petroleum in biofuels research by a consortium including UC-Berkeley, LBL,
would require significant regional and national investment, likely diverting funding from other university-based innovation programs
Human Capital Investment, Entrepreneurship and New Firm Creation. Unpublished paper Shrader, R c. & Siegel, D. 2007.
as research, technological development and innovation, support to firms†investments and information society objectives (Manzella and Mendez, 2009, p. 19;
notes that there has been a significant investment in the system over the past ten years
The key lesson to be drawn from this experience is that the patient investment of resources in a
The goals required investment in research, education transportation, renewable energies, and employability The renewed Lisbon Strategy was based on a set of 10 interventions
5. Increase and improve investment in R&d 6. Facilitate innovation, the uptake of ICT and the sustainable use of resources
%ï Invest 3%of GDP in R&d by improving the conditions for R&d investment by private
ï Generate investment: through the above companies, EUR 168 million were engendered ï Provide incubator accommodation:
primarily on investment in infrastructure. The focus of the current programme is on soft measures such
objectives are much harder to absorb funds than infrastructure investment. However, the necessity to put to good use the large flows of funding has contributed to sprawling and potentially overlapping
and investment into establishing incubators already, a relevant issue for the region to consider is a †benchmarking†model that would allow it to
Average capital investment cost â 3. 7 million â 1. 5 to â 22 m NA
particular mean that there has been a significant level of investment in high technology infrastructure and support, business start-up and venture capital for the more dynamic SMES
in the European union but this is not built on investment in high technology or a high level of R&d
modernisation strategies and attracting foreign direct investment, the region†s enterprise development agency, Scottish Enterprise, embarked on a policy of identifying strategic clusters in the 1990s with a
Co-investment Fund) and other financial schemes (e g. ITI Life sciences. Of particular note is the Intermediate Technology Institute †one of 4 within Scotland (the others being in IT, energy
extent has been successful in its strategy of longer term investment to pick †winners†in scientific areas
The limits of specifically †Scottish†late-stage investment inhibit the achievement of a critical mass of medium and large firms which could provide the stability and market that smaller
in the past by initiatives to attract foreign direct investment. The focus more recently on key knowledge economy sectors and a series of cluster initiatives hold some important policy lessons for
With smaller resources in the future, investment in high tech activities should be directed at the most promising sectors that already display some international capability
and was largely based on investments in infrastructure. The second wave of modernisation builds on the main principles set out in the 2000
investments in R&d, improved tertiary education, fostered co-operation between industry and university, stronger entrepreneurship, etc
stresses the importance of business enterprise R&d (BERD) investments, industry-university technology transfer, and intermediate organisations such as technology centres and technology parks â€
not only of R&d investments and technology transfer, but also of new business start-ups and entrepreneurial culture as basic pillars of future economic development.
ii) considering the large investments of Andalusia in business incubators, the regional government should engage in a more regular evaluation
whereas foreign direct investment of local firms (e g through joint ventures with firms overseas) has received much less attention.
investments by the firms hosted in the parks, corresponding to 24%of the national total.
Blending R&d investment and skills upgrading to broaden the scope of local innovation policies Overall, there appears to be a relatively poor connection between the innovation system and the
The continued investment in R&d (from EUR 72 million in 1999 to EUR 243 million in 2005
but, instead, provides investment opportunities and has a favorable climate for business (Covin and Slevin, 1989
ACAP Model of firm investment in R&d predicting how absorptive capacity affects the determination of R&d
but rather provides investment opportunities and has a favorable climate for business (Covin and Slevin, 1989;
which is required especially for new investments In this study, we assume a model proposed in previous studies (e g.,
decisions on investments in fixed assets. The FCF measure is described in Table 10 To calculate the FCF,
Investment in fixed assets =Free cash flow Model by Prior (2003 Control variables To explain firm performance,
will sell part of its investment or increase its debt. Our findings confirm the existence of
investment, among others. In this study, we concentrate our analysis only on export activities (i e.,, when we talk about international activities,
innovation, investments in R&d, etc), our findings give a more complete reflection of the number of innovations adopted in a given time-period
despite large investments made by governmental agencies in export promotions since the 1990s, the growth of productivity
innovation, investment in new technologies and continuous improvement -by recommending the commercialization of products and services
investments made by entrepreneurial companies, which present a high FCF rate, in order to assess whether these companies correctly invest their cash flow in excess
opportunities and investment Likert 1-7 An environment that my firm can control and manipulate/dominating environment which my
Expose three types of investments: Fear, fact and faith Not all IT-intensive investments are the same,
and they should be separated into categories based on what motivates them: fear (keep the business running),
opportunity requires faith-based investments and management capable of dealing with them Value flip 1:
Transformative, faith-based investments in digital capabilities, platforms and the like entail a high degree of uncertainty, making it difficult to put together a credible cash-flow-based business case.
such as â€oereal option valuation†enable digital leaders to assess platform and capability investments as options for the future
Foreign direct investments are growing and are pushing countries to compete in terms of attractiveness and specialisation profile.
investments in 2000 shows a 77%increase in real terms The total number of PCT patent applications in the world
The worrying trends for Europe are more in R&d investments and PCT patents, 3 as illustrated in the graph below.
Foreign investment dynamics and the increased pattern of sourcing parts and components from dispersed Global Value Chains indicate the globalisation
direction of overall foreign direct investment (FDI) flows as well as by international financial flows oriented predominantly towards R&d. 5
although investments have fallen with the current economic downturn Concerning FDI, the data shows that the EU is still the
comparative advantages for investment in geographical areas other than the EU, the EU remains the major destination for foreign direct investments of US firms.
In 2011, â 242 billion of foreign direct investments were made in the EU from non-EU firms.
With the exception of the peak in 2007, this represents a recovery to the pre-crisis situation
Investment flows coming from North america to the EU have been by far the largest. Although investments coming from emerging markets are still low in absolute
terms, a gradual increase could be seen specifically from Asian and Central american investors, with investments from the former amounting to 19%of total FDI
investment flows to the EU 4 Expert group to the European commission, 2008 5 The globalisation of production can also be measured by input-output tables on trade,
indicating income generated from the global value chains. The most recent data 2011) is consistent with the overall finding of FDI data, namely of the EU€ s slightly falling but persisting world lead.
World share of Foreign Direct Investment (FDI), 2004†11 Foreign Direct Investment (FDI) Inflows †World Share
%0 %10 %20 %30 %40 %50 %2006 2007 2008 2009 2010 2011 2) EU does not include Special Purpose Entities (SPES) for Luxembourg, Hungary, The netherlands and Austria
is seen in investments in technology and knowledge -intensive fields With the economic crisis, outward foreign direct
investment flows of European firms have reached the level of FDI flows inside the European union In 2008, FDI of EU firms fell sharply.
peak of 2007, outward direct investments have returned to their pre-crisis values. The intra-EU FDI outflows have
Foreign Direct Investments in Europe by firms from other continents â 250 Africa South Americanorth Americacentral Americaasia
Foreign Direct Investments of European firms outside the EU Extra-EU FDI Outflows Data: OECD, Eurostat
Investments in science and technology represent a very significant part of the foreign direct investments of EU firms
Investments in manufacturing activities for petroleum chemical, pharmaceutical, rubber and plastic products still have the highest share of the EU outward investment
flows. However, these are followed closely by investments in professional, scientific and technical activities (financial services are taken not into account.
In 2010, the EU invested over â 50 billion in professional, scientific and technical activities in extra-EU countries, which
represented 17%of all extra-EU FDI that year The internationalisation of the economy has
chain, where the investment flows between the EU and US dominate Globally, the internationalisation of business R&d is
As for the investments in research and innovation, the figure below reveals the extreme importance of the
a deficit in the EU€ s R&d investment flows to the US Figure 5: Foreign Direct Investments inside the EU compared to extra-EU FDI outflows
Intra-vs. Extra-FDI Outflows Data: OECD, Eurostat Source: DG Research and Innovation †Economic Analysis Unit
%6 †Internationalisation of business investments in R&d and analysis of their economic impactâ€, Innovation Union Competitiveness paper 1/2012
Breakdown of Foreign Direct Investments by sector %of all extra-EU NACE sectors Data: OECD, Eurostat
worldwide R&d investments, impacting mainly the most knowledge-intensive Member States Overall, businesses in the EU increased their expenditure
%This is in part due to sustained R&d investment by European firms, which expect their worldwide investments in R&d to grow further by an average of 4
%annually over the period 2012†14 Figure 8 below shows that this evolution affects mainly the knowledge-intensive Member States.
figure depicts the investments of R&d-intensive firms in absolute numbers as a share of total national
R&d investments financed by businesses in absolute numbers. The numerator is based on firm-level data by
in the country and abroad), these investments can be larger than the sum of R&d investments financed by
the businesses registered in the country (BERD data The values for the country in Figure 8 are in this case
Share(%)of Firm R&d investments in R&d financed by businesses in brackets, number of firms in the population
shares of top companies†r&d investments compared to berd 2005 2006 2007 2008 2009 2010 2011
internationalisation of business R&d investments. The number of firms in each country is indicated in brackets
business R&d investments in the country seem to have grown more than French and German firms†worldwide
R&d investments. The data for the United kingdom is particularly interesting, since the overall R&d intensity
With the globalisation of investment in research and innovation, different locations compete to attract investments but also to develop new and innovative
products and services for the global market. The competitive position of Europe depends in this context
competition and fungible R&d investment moving from one country to another, depending on market opportunities and specific knowledge assets.
-and demand-side measures to stimulate business investments in new technologies and innovative productsâ€, paper presented at the European commission Mutual Learning seminar 2012
investment is pushing countries to think more strategically about their technology profiles. This is particularly the case when
and investment flows as background to a more detailed analysis of Europe†s technology profile.
afford high investment and are likely to fail. Only large firms with high R&d budgets and laboratories or small, specialised
investments in innovation Market structure Transparency/perfect information hampering the right market functioning Quality of demand hampering the level of
Market characteristics should be right to enable actors to reap the benefits of their investments
substantiated by very low costs for investment in research and development as a result of tax breaks and incentives Photonics Berlin-Brandenburg †Germany:
Private R&d investments amounts to only $1. 7 billion in Europe compared to $2. 7 billion in
Regarding R&d investment from the government, Germany is the number one concerning public funding of nanotechnology in Europe, followed by France and the United kingdom. 17
http://www. gtai. com/homepage/info-service/publications/our-publications/germany-investment-magazine/vol-2008/vol
VC investment in Japan. 37 Interactions Scientists are supported by capital intensive equipment through spin-in operations, which
funding consisting of 2/3 of all investments. The Japanese government has played an active role in promoting the VC market.
Tax incentives to stimulate investments and stimulate (re) location to cluster area Interactions Cluster platforms play important role in
51 percent of this investment was funded from government sources while only 49 percent came from private sources,
NNI promotes policy deliberation and, most importantly, coordinates federal R&d investment in nanotechnology R&d investment by agencies under the NNI between 2001 and 2010 was $11. 9 billion.
More than 25 federal agencies participate in the initiative, including 13 agencies that provided R&d funding for nanotechnology.
the highest investment under NNI (2001-2010) was made by the Department of Defence ($3. 4 billion), the
federal investments of nanotechnology centres and infrastructure for nanotechnology research and education networks; and support the consideration of
critical for nanotechnology producers to decide about investment and directions of future research Nanotechnology is promoted currently by many governments.
huge investment in R&d, pilot plants and marketing are required. Today, only large companies can shoulder the needed long-term financial commitment, resulting in a low share
impacts of nanotechnology and thus stimulate investment and demand Since R&d in nanotechnology involves very long time horizons, stable networks among
which creates considerable investment requirements for the manufacturers (Fraunhofer CNT, 2008 In the following we will use the term â€oemicroelectronics†for simplification, though this term
investments indicating future (production) location. In terms of production output Asia is the largest geographical agglomeration with China accounting for 27 percent of production in
production in Asia is likely to continue with share of worldwide investment in microelectronics in Europe declining.
In 2007,10 percent of global investments of â 28 billionin microelectronics were compared in Europe to 48 percent in Asia.
number of employees or levels of investment little meaningful. However, one shared commonality across clusters is the excellence of their applied research (Collet, 2007.
from substantial investment and partnership programmes between industrial firms and publicly funded laboratories in the semiconductor industry in France since the early 1990s
and $8 billion making such investment for very few companies possible to finance. But also costs for designing system-on
public investments. Since the beginning of the 1990s, the semiconductor industry in France has benefited from significant investments and partnership programmes between industrial
companies and public laboratories. CEA-Leti being often the leader behind new initiatives and activities in the cluster is a public research centre.
of the examples of new LETI initiatives, with investments of around â 193 million was for
Total investments are expected to be around â 3. 6 billion, with national and local government funding exceeding â 500
fuelled by public investments and research capabilities of the University of Toronto By the 1990s, Ontario was a significant player in the global silicon chip business, with several
U s. venture capital investment in Canada goes to Ottawa tech firms. This is also supported with examples from Wolfe (2002) who describes the takeover of Skystone System by Cisco
investment of $50, 000 to create a partnership with researchers at the University of Ottawa
Investment Program. This helped Distil to attract a $700, 000 investment from Growthworks Canadian Fund.
Distil Interactive has received follow up funding of $2. 2 million by Growthworks in 2007 employing 25 people.
innovation and investment in the microelectronics sector by the Ontario government (Ontario 2007 Conclusion The Ontario,
Every $100 investment in R&d comes at a net cost of $49 because of several national and regional tax incentives.
Strong national investments in science and research Support for research collaboration and commercialisation of research
for $100 Â'R&d investment Network and collaborative research support 2/3 of US VC goes to Ottawa cluster
investments into the semiconductor fabrication plants (fabs. While this would typically drive the fixed costs of production, it has become standard industry logic that semiconductors are
further miniaturisation will require considerable investments into plant technology Europe†s technological position The development of micro-and nanoelectronics is concentrated clearly on the three global
solutions to present physical limits be cost-efficient without raising high investment needs for the manufacturers.
potential downside of these high projections is that important investments into biotechnology might be diverted as a more realistic market assessment becomes apparent.
receives large investments (2004: â 600 million Figure 5-21: Actors in the Cambridge biotechnology cluster
biotechnology companies grew steadily until the mid 1990s, when international investments in high-tech industries also nurtured the biotechnology cluster in Cambridge.
and world-class research base in the UK to attract investments in bioscience research. To do
are key policies and one of the most significant initiatives in stimulating investments in biotech.
The cluster has also access to financial resources at all investment stages which has shown to be critical for growth.
†Great Eastern Investment Forum†and the †Cambridge Angelsâ€. Next to their primary function of providing capital, these business angels offer professional advice, contacts, and
companies with linkages to university research with private investments. Once the start-ups enter the global market,
one of the most significant initiatives in stimulating investments in biotech. It boosts R&d activity on a national scale up to 10 percent in the long-term
financial resources for all investment stages, i e. there is no clear †valley of deathâ€. This can
Besides stimulating additional R&d investments in companies sustainable networks of firms and scientific institutions should be established in order to
lower investments and is less risky as, for instance, red biotechnology. This is attributed to the fact that industrial biotechnology mainly develops new processes for the production of
assistance system results in net cost of $49 for every $100 R&d investment. But also in terms
public and private R&d investments and ensuring the mobilisation of the critical mass of European Competitiveness in KETS ZEW and TNO
investment by users. The latter fact often delays a rapid diffusion of new materials Another peculiarity advanced materials is the broad spectrum of scientific disciplines and
determinant is the length of investment and product cycles in the industries that use advanced
Long investment and product cycles imply long amortisation periods. In order to avoid canibalisation, new investment and new products tend to be introduced only when past
investment and old products have reached their maturity stage. Another determinant for the speed of diffusion is need the for specific investment and adaptation of production facilities in
order to use new materials in production. If these are fixed high costs of introducing new
materials will be high and increase opportunity costs of introducing advanced materials European Competitiveness in KETS ZEW and TNO
chemical industry which is characterised by long product and investment cycles. Substituting traditional materials such as polymers based on crude oil by biomaterials demands new
investment while offering little price-cost advantages. Consequently, diffusion of these advanced materials is expected to take significantly longer than for organic polymer
takes a long time due to high investment needed both by producers of materials and users Table 7-6:
2005a, b). This plan aims to boost investment in firms by: facilitating access to investment
Chapter 7 Advanced Materials EN 273error! Unknown document property name. EN grants; reducing tax for firms;
promotion of investment package for attracting new firms to the Plastiwin cluster. Among the measures for supporting this policy is the preferential access to risk funding (through SRIW
investment agencies. There is a wide variety of funding opportunities from the European national and regional agencies aimed at technology development, basic research, and
In addition, there are a number of local investment companies and there are several sources of private funding, loans and seed capital specially
introduced PRIVAK (Private Equity Investment Fund-Investment in non-traded companies which encourages private investors to invest in non-traded venture capital,
Be Angel is an investment structure which includes 25 business angels that help entrepreneurs to develop new businesses. 94
investment grants may be increased by 25 percent or even 40 percent for these areas. In addition to fiscal incentives, the Wallonia Government has taken a number of tax-related
industrial policy, there is now a specific promotion of investment package for attracting new firms to the Plastiwin cluster.
and the availability of (investment) support measures seems to be creating ideal conditions of tax-related measures aiming to making Wallonia the least taxed region in both Europe and
) Secondly, it has enabled foreign direct investment at the time it has promoted closer and more effective industrial and technological links with neighbouring countries for
system include the China Investment Corporation (CIC) and the China International Capital Corporation (whose seed capital was provided by Morgan stanley back in 1995), the latter
investment of almost â 1 billion within the time period 1994 to 2003. A long term framework
recycling etc. and may involve high investment by users Policy options Developing and commercialising advances in material technology is by and large the business
which can afford the high investment needed. For upcoming fields in material technologies, young firms could play an important role, too
First of all, investment costs are high, and they are combined with uncertainty over the advantages of new generations of manufacturing
investment). ) Moreover, there is considerable need for tailor-made adjustments, which are costly. Adjusting and using AMT also requires in-house capabilities for dealing with new
Costs for investment into AMT are high, and they are combined with uncertainty over the advantages of new generations of manufacturing technologies (i e. degree of cost savings and
other efficiency gains unclear at the time of investment. Moreover, costly tailor-made adjustments are necessary.
efficiency gains unclear at the time of investment high investment cost may exceed the available internal funds of users, particularly for SMES
while external financing through loans can be difficult if the technology is completely new and no experience over the likely returns are available to banks
demands high investment in R&d and cooperation of actors with different industrial and disciplinary background.
and often high investment needed to adopt new materials. In advanced manufacturing technologies, the situation is quite similar
proven themselves in the market, large investments are needed often still for the phase in between the applied research and commercial application.
as scaling up, requires large investments in proto-typing, testing, and the scaling up of
investments in proto-typing, testing, and the scaling up of production facilities is often difficult to fund.
it is observed that investments in higher education in Europe have deteriorated over the last decades, leading to a lower number of graduates and researchers in some fields
breaks and incentives, creating an attractive climate for investments in high growth areas clusters), R&d subsidies and stimuli for scaling up and commercialisation.
prevent private R&d investment are tackled by public R&d funding schemes as well as cluster and network initiatives.
The need for large fixed investment in specific R&d Chapter 9 Summary and Conclusions EN 347error!
uncertainty, long time horizons between R&d investment and potential economic returns, and high information asymmetries over the prospects and risks of KET-related R&d activities.
High investment costs for applying KETS may exceed the available internal funds of users, particularly for SMES,
-Although KETS are characterised by particularly high investment in R&d and high technological and market risks, a generally favourable framework for innovation and
incentives for R&d and investment in new technologies -Linked to R&d project funding, policy should encourage actors in KETS to build up
KPMG (2009), Changsha Investment Environment Study 2009, Guangzhou, KPMG Huazhen: 24 KPMG (2009), The Road to Recovery in the Global Semiconductor Industry †A Survey of Industry
Cleantech†s Dollar Investments, Penny Returns, New york: Lux Research Inc Maine, E. and E. Garnsey (2006), Commercializing generic technology:
OECD (2009d), Financing and Investment Models in Industrial Biotechnology †Research methodology and first results, OECD workshop on â€oeoutlook on Industrial Biotechnologyâ€
instruments conducive to higher levels of R&d investments-The †Policy Mix†Project, Brussels Shapira, P.,J. Youtie (eds.
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