Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

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

‘Designer’ nanodevice could improve treatment options for cancer sufferers October 22nd, 2014

Super stable garnet ceramics may be ideal for high-energy lithium batteries October 21st, 2014

Could I squeeze by you? Ames Laboratory scientists model molecular movement within narrow channels of mesoporous nanoparticles October 21st, 2014

Detecting Cancer Earlier is Goal of Rutgers-Developed Medical Imaging Technology: Rare earth nanocrystals and infrared light can reveal small cancerous tumors and cardiovascular lesions October 21st, 2014

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

7th Nanotechnology Festival, Exhibition Kicks Off Work in Iran October 7th, 2014

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

SouthWest NanoTechnologies Inc. Announces $2.7 Million in New Financing to Fund Growth, Plant Expansion and Technical Personnel August 11th, 2014

Govt.-Legislation/Regulation/Funding/Policy

Materials for the next generation of electronics and photovoltaics: MacArthur Fellow develops new uses for carbon nanotubes October 21st, 2014

Special UO microscope captures defects in nanotubes: University of Oregon chemists provide a detailed view of traps that disrupt energy flow, possibly pointing toward improved charge-carrying devices October 21st, 2014

Super stable garnet ceramics may be ideal for high-energy lithium batteries October 21st, 2014

Could I squeeze by you? Ames Laboratory scientists model molecular movement within narrow channels of mesoporous nanoparticles October 21st, 2014

Announcements

‘Designer’ nanodevice could improve treatment options for cancer sufferers October 22nd, 2014

Super stable garnet ceramics may be ideal for high-energy lithium batteries October 21st, 2014

Could I squeeze by you? Ames Laboratory scientists model molecular movement within narrow channels of mesoporous nanoparticles October 21st, 2014

Detecting Cancer Earlier is Goal of Rutgers-Developed Medical Imaging Technology: Rare earth nanocrystals and infrared light can reveal small cancerous tumors and cardiovascular lesions October 21st, 2014

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

Special UO microscope captures defects in nanotubes: University of Oregon chemists provide a detailed view of traps that disrupt energy flow, possibly pointing toward improved charge-carrying devices October 21st, 2014

Could I squeeze by you? Ames Laboratory scientists model molecular movement within narrow channels of mesoporous nanoparticles October 21st, 2014

Detecting Cancer Earlier is Goal of Rutgers-Developed Medical Imaging Technology: Rare earth nanocrystals and infrared light can reveal small cancerous tumors and cardiovascular lesions October 21st, 2014

Nitrogen Doped Graphene Characterized by Iranian, Russian, German Scientists October 21st, 2014

Events/Classes

Ucore's McKenzie to Deliver Presentation to Rare Earths Conference in Singapore as Highlight of Fall 2014 Marketplace Schedule October 19th, 2014

Aspen Aerogels, Inc. Schedules Third Quarter 2014 Earnings Release and Conference Call for November 6, 2014 October 17th, 2014

New VDMA Association "Electronics, Micro and Nano Technologies" founded: Inaugural Meeting in Frankfurt/Main, Germany October 15th, 2014

Nanotronics Imaging Releases nSPEC® 3D, Powerful Microscope That Captures 3D Images at Nanoscale, in Lightning Speed: Company Unveils Design at American Chemical Society 2014 International Elastomer Conference October 14th, 2014

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 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE