Open AccessPublic policy of support for small business innovation in the U.S.: lessons for Russia
Author(s) -
Зиновьева Елена Сергеевна,
Балышев Александр Владимирович
Publication year - 2014
Publication title -
vestnik mgimo-universiteta
Language(s) - English
Resource type - Journals
eISSN - 2541-9099
pISSN - 2071-8160
DOI - 10.24833/2071-8160-2014-1-34-164-171
Subject(s) - commercialization , business , government (linguistics) , venture capital , production (economics) , goods and services , service (business) , small business , product (mathematics) , new product development , service innovation , public policy , marketing , industrial organization , finance , economics , economic growth , market economy , linguistics , philosophy , geometry , mathematics , macroeconomics
The article analyzes the characteristics of the program of Assistance to Small Business Innovation Research (SBIR) in the United States. This program is aimed at support and subsequent commercialization of high technology developed by small firms. The government agencies involved in the implementation of the program determine the research areas manage the allocated funds themselves. The program has been in operation for over 30 years and has proven to be effective. It provides business with funds necessary at the primary, the most risky phase of production of innovative goods and services, and also gives signals to the market about popular areas of innovation development. Participation in the program is a guarantee of a high level for innovative product or service produced by the firm and allows companies to raise additional funds. Conclusions drawn from the analysis of the SBIR may be useful for the policy support of science and technology in Russia. The implementation of programs similar to SBIR in Russia will solve the actual problem of innovation development, to reduce information asymmetry in the market of innovative products and services and help in attracting venture capital in high-technology projects.