In an era that has seen the dwindling of large corporate research laboratories, the major stimulus for innovation increasingly resides in universities. But all too frequently, translating academic research advances into market-changing technologies occurs at a glacial pace. A broader model for the way in which universities can foster innovation and entrepreneurial growth and help to stimulate local and regional economies has existed for several decades. Not surprisingly, several countries in Europe and Asia have begun to adopt the model of using academic research to stimulate commercial innovation. That presents a challenge to institutions in the US. A significant proportion of graduate students in science and engineering in American universities come from abroad. Entrepreneurship opportunities in their native lands could persuade them to leave the US once they receive their degrees.
packages goes toward renewable energy development. steps to stress green growth and a UK, India—Less Stimulus Funding sustainable energy future in their Other countries are notable for their recent stimulus packages. Why? The nations with aggressive green stimulus Moving Ideas From lack of stimulus funding for clean energy and low-carbon technology— spending in 2008–2009 have laid the groundwork for leading in the future Academia To in particular, the United Kingdom and India. The New Economics global economy by creating new industries, diversifying sources of Marketplace Foundation says that among rich energy, and enhancing nations, the UK’s stimulus had the In an era that has seen the dwindling competitiveness through energy of large corporate research laboratories, fewest provisions for green initiatives efﬁciency while responding to the while HSBC estimates India’s green the major stimulus for innovation urgency of climate change. increasingly resides in universities. But stimulus investment to be zero (10). References all too frequently, translating academic Prime Minister Gordon Brown has research advances into market- 1. Robins, N., Clover, R. and Singh, C. 2009. More Green Money stated that his country’s money on the Table. HSBC Global Research. changing technologies occurs at a allocation reﬂects its already strong glacial pace. That stems in large 2. Netherlands Environmental Assessment Agency. 2007. China carbon-reduction plan and needs little Now Number One in CO2 Emissions, U.S. in Second Position. measure from the inability of academic additional resources. Indeed, the UK www.pbl.nl/en/dossiers/Climatechange/moreinfo/ chinanowno1inCO2emissionsUSAinsecondposition.html scientists to recognize the commercial (and especially Scotland) has a thriving potential of their research. renewable energy industry, progressive 3. Seligsohn, D. and Bradley, R. 2009. Energy and Climate Policy Action in China (Update). World Resources Institute A series of projects at the Ewing low-carbon transportation policies, and (WRI). Available at www.wri.org/stories/2009/06/fact-sheet- energy-and-climate-policy-action-china-update Marion Kauffman Foundation in R&D funding for clean energy. Kansas City, Missouri aims “to Nonetheless, the allocation has drawn 4. Robins, N., Clover, R. and Singh, C. 2009. A Climate for Recovery: The colour of stimulus goes green. HSBC Global identify and remove barriers that criticism from inside and outside of the Research. inhibit the transformation of UK for not being enough. 5. Robins, N., Clover, R. and Singh, C. 2009. A Climate for knowledge into products and services India seems less interested in green Recovery: The colour of stimulus goes green. HSBC Global Research and Clover, R., Robins, N. and Magness, J. 2009. U.S. that improve the way we live, work, initiatives altogether. Despite a recent Stimulus Package: Implication for Renewables. HSBC Global and play,” according to the Research. deal with the United States to develop foundation’s website. its nuclear power industry and a small 6. Creyts, J., Derkach, A., Nyquist, S., Ostrowski, K. and Stephenson, J. 2007. Abating U.S. Greenhouse Gas Emissions: “We’ve witnessed a disaggregation of amount of hydropower, India has so far How Much and At What Cost? McKinsey and Company. research,” says Lesa Mitchell, the made little investment in developing 7. Bradsher, K. 2009. China’s Route Forward. The New York foundation’s vice president for and producing green technologies. This Times. Available at: www.nytimes.com/2009/01/23/business/ advancing innovation. “Over the past position will be challenged as the worldbusiness/23yuan.html. 20 years, while U.S. industries have country doubles its primary energy use 8. Council of the European Union. 2009. Council approves contracted in terms of research by 2030 and becomes the third largest recovery plan projects in the ﬁeld of energy. Press release 11672/09. laboratory funding, universities have oil importer b
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