Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Innovation risks being hit hard by crisis, warns OECD

Abstract:
A new OECD report warns that innovation risks being hit hard by the economic crisis as the capital to finance it grows scarce. The report also includes a breakdown of government stimulus packages in the 30 OECD countries (and others including Russia) and the measures taken relating to innovation, including broadband, science and innovation, and green technology.

Innovation risks being hit hard by crisis, warns OECD

PARIS, France | Posted on June 10th, 2009

Separately, the issue of innovation and sustainable growth will be discussed at its annual OECD Forum on Tuesday 23 June. Andrew Wyckoff, OECD director of Science, Technology and Industry, will present the report's findings during the panel discussion.

Historically, business R&D spending and patent filings have moved in parallel with GDP, slowing markedly during the economic downturns of the early 1990s and early 2000s. Recent evidence, based on corporate reports from the first quarter of 2009, confirms this is already happening, with R&D spending declining in many cases. US venture capital investments plunged 60% in the first quarter of 2009 compared with the same period a year earlier and the same is true in Europe and in China. Patent applications are down across the board.

The report urges governments and business to limit cutbacks in spending on research and development (R&D) and innovation, and mitigate as far as possible the negative impact of the crisis on innovation taking a long-term view. It advises governments to avoid locking-in old economic structures and business models. Supporting firms and industries that do not have a viable business model will thwart the restructuring required for more sustainable growth.

The report points to the governments of Finland in the early 90s and Korea in the early 2000s which both increased investment in R&D during those downturns and the role this played in making their economies more competitive and innovative. Leading technology companies such as Google and Samsung were also increased their R&D spending after the dotcom bubble of 2001 and came out stronger. The focus on innovation-related stimulus measures also showcases how economic recovery packages deployed today can help prepare future growth - including in the area of green technologies.

Incentives to develop a greener economy have also been weakened by the crisis, it says. Lower oil prices have reduced incentives to switch to alternative energy sources and declining raw material prices have reduced pressures to use these resources more efficiently. In response, governments should share the risk of new technologies with the private sector through R&D tax credits, public-private partnerships and supporting innovation in SMEs.

####

For more information, please click here

Contacts:
Sacha.Wunsch-Vincent @ oecd.org
(tel. + 33 6 14 94 38 38)
or
Dominique.Guellec @ oecd.org
from the OECD’s Science, Technology and Industry Directorate.

* Spencer Wilson

Media relations manager
Public Affairs & Communications Directorate
OECD
2, rue André Pascal
75775 Paris Cedex 16
France
Tel : +33 1 45 24 81 18
Mobile : +33 617 900 693

Copyright © OECD

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related Links

You can download the report here.

Related News Press

News and information

Leti to Offer Updates on Silicon Photonics Successes at OFC in LA February 27th, 2015

Moving molecule writes letters: Caging of molecules allows investigation of equilibrium thermodynamics February 27th, 2015

Untangling DNA with a droplet of water, a pipet and a polymer: With the 'rolling droplet technique,' a DNA-injected water droplet rolls like a ball over a platelet, sticking the DNA to the plate surface February 27th, 2015

Maximum Precision in 3D Printing: New complete solution makes additive manufacturing standard for microfabrication February 26th, 2015

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

Silicon Catalyst Announces Partnership With imec to Support Semiconductor Start-Ups February 23rd, 2015

Ligar secures investment from Wallace Corporation to commercialise polymers that pick out good and bad molecules: Ground-breaking science innovation removes molecules in the wrong place from liquids February 15th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Raises an Additional $29 Million (CAD), Closing 2014 Financing at $62 Million (CAD) February 2nd, 2015

Ref signals deep impact as EPSRC announces £30 million for impact acceleration accounts (IAA) January 21st, 2015

Govt.-Legislation/Regulation/Funding/Policy

Warming up the world of superconductors: Clusters of aluminum metal atoms become superconductive at surprisingly high temperatures February 25th, 2015

SUNY Poly CNSE Researchers and Corporate Partners to Present Forty Papers at Globally Recognized Lithography Conference: SUNY Poly CNSE Research Group Awarded Both ‘Best Research Paper’ and ‘Best Research Poster’ at SPIE Advanced Lithography 2015 forum February 25th, 2015

European roadmap for graphene science and technology published February 25th, 2015

Dendrite eraser: New electrolyte rids batteries of short-circuiting fibers: Solution enables a battery with both high efficiency & current density February 24th, 2015

Announcements

Leti to Offer Updates on Silicon Photonics Successes at OFC in LA February 27th, 2015

Moving molecule writes letters: Caging of molecules allows investigation of equilibrium thermodynamics February 27th, 2015

Untangling DNA with a droplet of water, a pipet and a polymer: With the 'rolling droplet technique,' a DNA-injected water droplet rolls like a ball over a platelet, sticking the DNA to the plate surface February 27th, 2015

Graphene shows potential as novel anti-cancer therapeutic strategy: University of Manchester scientists have used graphene to target and neutralise cancer stem cells while not harming other cells February 26th, 2015

Interviews/Book Reviews/Essays/Reports/Podcasts/Journals/White papers

Moving molecule writes letters: Caging of molecules allows investigation of equilibrium thermodynamics February 27th, 2015

Untangling DNA with a droplet of water, a pipet and a polymer: With the 'rolling droplet technique,' a DNA-injected water droplet rolls like a ball over a platelet, sticking the DNA to the plate surface February 27th, 2015

Real-time observation of bond formation by using femtosecond X-ray liquidography February 26th, 2015

Graphene shows potential as novel anti-cancer therapeutic strategy: University of Manchester scientists have used graphene to target and neutralise cancer stem cells while not harming other cells February 26th, 2015

Events/Classes

Leti to Offer Updates on Silicon Photonics Successes at OFC in LA February 27th, 2015

Hiden CATLAB Microreactor System at ARABLAB 2015 | Visit us on Booth 1011 February 26th, 2015

Indefinite Life Extension Activists Organize Online Demonstration February 26th, 2015

Renishaw and Bruker team up for a workshop on TERS and co-localised AFM Raman February 26th, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE