The Practice and Future of Financing Science, Technology, and Innovation

Ricardo Seidl da Fonseca () and Alex Pinheiro Veloso ()
Additional contact information
Ricardo Seidl da Fonseca: George Washington University (USA)
Alex Pinheiro Veloso: Gestora de Inteligencia de Credito (Brazil)

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2018, vol. 12, issue 2, 6-22

Abstract: The importance of financing science, technology and innovation (STI) is growing increasingly relevant and is changing its content. New, more comprehensive financing mechanisms are emerging. With STI costs rising and government budgets shrinking, research and innovation has become more cooperative and network-based. The paper discusses the different instruments and incentives available for governments to improve the financing of innovation. Two case studies illustrate government efforts from the United Kingdom and Brazil towards innovation financing issues. Lastly, recent and future STI financing trends are reviewed. Governments continue to play a crucial and determining role in STI financing, whether through financial incentives, fiscal incentives or a mix of both. Countries with low national innovation performance should assign more weight to fiscal incentives, while countries with high innovation performance financial incentives prove more efficient.

Keywords: science, technology and innovation (STI); funding; public-private partnerships; financial incentives; fiscal incentives; project financing (search for similar items in EconPapers)
JEL-codes: C53 G32 L26 M13 O57 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://foresight-journal.hse.ru/data/2018/07/03/1153163551/1-Fonseca-6-22.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hig:fsight:v:12:y:2018:i:2:p:6-22

Access Statistics for this article

More articles in Foresight and STI Governance (Foresight-Russia till No. 3/2015) from National Research University Higher School of Economics
Bibliographic data for series maintained by Nataliya Gavrilicheva () and Mikhail Salazkin ().