Public Financing of Early-Stage Innovations

2019 ◽  
pp. 187-211
Author(s):  
Susana Borrás ◽  
Charles Edquist
Keyword(s):  
Early Stage ◽  
Innovation System ◽  
Policy Instruments ◽  
Unintended Consequences ◽  
The State ◽  
Public Financing ◽  
Public Agencies ◽  
Risk Capital ◽  
Public Intervention ◽  
Innovation Processes

Financing innovation processes is one of the crucial activities for developing commercially successful products and processes (innovations) and to facilitate their diffusion in the innovation system. This chapter addresses the rationales for public intervention, i.e. in which situations policy should be pursued in the field of financing. The chapter identifies a number of policy instruments for financing innovations that are available by the state, and which public agencies use for funding early-stage innovation. The chapter also describes the provision of risk capital by the Swedish state. This case describes a situation where unintended consequences of the policy pursued in Sweden led to the non-fulfilment of the additionality condition. We also describe how this mistake has begun to be resolved after discussions in the Swedish National Innovation Council. The chapter concludes with a number of important issues with regard to public financing of innovations.

RESEARCH ON INVESTMENT AND INNOVATION ACTIVITY IN UKRAINE: TRENDS AND PROBLEMS

2018 ◽  
Vol 1 (01) ◽  
pp. 5-73
Author(s):  
Anatoliy Ivanovich Bogdanenko
Keyword(s):  
State Policy ◽  
Innovation System ◽  
State Regulation ◽  
The State ◽  
Innovation Activity ◽  
Legal Principles ◽  
Innovation Activities ◽  
Wide Range ◽  
Intellectual Potential ◽  
Innovation Processes

In the monograph the theoretical identification of concepts and categorical series of state regulation of investment-innovation processes are investigated; the directions of optimization of the state policy of innovation and investment development management in Ukraine are determined; the organizational and legal principles of the state regulation of development of intellectual potential of the population are substantiated; the areas of development and improvement of the national innovation system as an object of state policy are highlighted and assessed. The monograph will be interesting for scholars, lecturers, doctoral and graduate students, and will also be useful to practical politicians, journalists and media workers and a wide range of readers interested in investment and innovation activities.

scholarly journals University Integration Management Algorithm in the National Innovation System

2018 ◽  
pp. 310-315
Keyword(s):  
Innovation System ◽  
National Innovation System ◽  
The State ◽  
Innovation Activity ◽  
Managerial Decision ◽  
Management Algorithm ◽  
Current Trends ◽  
Level Increase ◽  
Integration Management ◽  
Innovation Processes

The current trends of development, ensuring the welfare of the state, are in continuous communication with innovation activity. Under the influence of complex and sustainable innovation processes, the concept of the national innovation system is embodied at the macroeconomic level in its totality. Numerous elements are seen in the conjugation of the national innovation system scale, among which higher education institutions, and their scientific and innovative potential take their place. However, the reverse side is inequality in the levels of university integration, which introduces a discrepancy between the degree of their effectiveness as the elements of the national innovation system. So it becomes urgent to have a specific set of steps to improve the level of university integration. The process of integration level increase must be governed necessarily by the principles of suitable integration condition management, where it is possible to justify waiting by creation of a management algorithm for university integration in the national innovation system. The result of such an algorithm application is the obtaining of a visual set of steps by a user to ensure the process of managerial decision making and implementation to improve the level of university integration in the national innovation system. The increase of university integration will directly enhance its interaction with other elements of NIS, and therefore will increase its contribution to the national economy development, and other priority areas of the state.

scholarly journals The Choice of Innovation Policy Instruments

2019 ◽  
pp. 212-228
Author(s):  
Susana Borrás ◽  
Charles Edquist
Keyword(s):  
Innovation Policy ◽  
Innovation System ◽  
Policy Instruments ◽  
The Political ◽  
Public Agencies ◽  
Instrument Choice ◽  
Different Types ◽  
Policy Mixes

The purpose of this chapter is to discuss the different types of instruments of innovation policy, to examine how governments and public agencies in different countries and different times have used these instruments differently, to explore the political nature of instrument choice and design (and associated issues), and to elaborate a set of criteria for the selection and design of the instruments in relation to the formulation of holistic innovation policy. The chapter argues that innovation policy instruments must be designed and combined into mixes that address the problems of the innovation system. These mixes are often called ‘policy mixes’, though we prefer the term ‘instrument mix’. The wide combination of instruments into such mixes is what makes innovation policy ‘holistic’.

Holistic Innovation Policy

2019 ◽  
Author(s):  
Susana Borrás ◽  
Charles Edquist
Keyword(s):  
Policy Design ◽  
Innovation Policy ◽  
Early Stage ◽  
Policy Instruments ◽  
Unintended Consequences ◽  
Development Education ◽  
Policy Makers ◽  
The Public ◽  
Policy Problems ◽  
Theoretical Foundations

This book is about holistic innovation policy: its theoretical foundations, its problem-oriented approach, and its instrument choices. We start with the observation that most of the current innovation policies are not holistic because they only focus on a few determinants of innovation processes. This book provides a theoretically anchored foundation for the design of holistic innovation policy by identifying the core policy problems that tend to afflict the activities of innovation systems, including the unintended consequences of policy itself. This is a necessary stepping stone for the identification of viable, relevant, and down-to-earth policy solutions. The book also offers a critical analysis of policy instruments and their choice in innovation policy design. It is not a ‘recipe’ nor a ‘how-to’ guide. Instead, it provides analytical depth and substantial considerations about the ways in which policy might be providing solutions to problems in systems of innovation. After introducing its conceptual framework about innovation and innovation policy, the book delves into the following areas of innovation policy-making: knowledge production and research and development; education, training, and skills development; functional procurement as demand-side; change of organizations through entrepreneurship and intrapreneurship; interaction and innovation networks; changing institutions and regulations; and the public financing of early stage innovations. Its critical and novel perspective serves policy-makers, scholars, and anyone interested in the design of innovation policy. The summary chapter (Chapter 12) can be read independently of the rest of the book.

scholarly journals EU FP7 research funding for an orphan drug (Orfadin®) and vaccine (Hep C) development: a success and a failure?

2021 ◽  
Vol 14 (1) ◽  
Author(s):  
L. Schmidt ◽  
O. Sehic ◽  
C. Wild
Keyword(s):  
Hepatitis C ◽  
Late Stage ◽  
Research Funding ◽  
Early Stage ◽  
Basic Research ◽  
Pharmaceutical Products ◽  
Clinical Development ◽  
Clinical Indication ◽  
Market Authorisation ◽  
Risk Capital

Abstract Background We considered the extent of the contribution of publicly funded research to the late-stage clinical development of pharmaceuticals and medicinal products, based on the European Commission (EC) FP7 research funding programme. Using two EC FP7-HEALTH case study examples—representing two types of outcomes—we then estimated wider public and charitable research funding contributions. Methods Using the publicly available database of FP7-HEALTH funded projects, we identified awards relating to late-stage clinical development according to the systematic application of inclusion and exclusion criteria, classified them according to product type and clinical indication, and calculated total EC funding amounts. We then identified two case studies representing extreme outcomes: failure to proceed with the product (hepatitis C vaccine) and successful market authorisation (Orfadin® for alkaptonuria). Total public and philanthropic research funding contributions to these products were then estimated using publicly available information on funding. Results 12.3% (120/977) of all EC FP7-HEALTH awards related to the funding of late-stage clinical research, totalling € 686,871,399. Pharmaceutical products and vaccines together accounted for 84% of these late-stage clinical development research awards and 70% of its funding. The hepatitis C vaccine received total European Community (FP7 and its predecessor, EC Framework VI) funding of €13,183,813; total public and charitable research funding for this product development was estimated at € 77,060,102. The industry sponsor does not consider further development of this product viable; this now represents public risk investment. FP7 funding for the late-stage development of Orfadin® for alkaptonuria was so important that the trials it funded formed the basis for market authorisation, but it is not clear whether the price of the treatment (over €20,000 per patient per year) adequately reflects the substantial public funding contribution. Conclusions Public and charitable research funding plays an essential role, not just in early stage basic research, but also in the late-stage clinical development of products prior to market authorisation. In addition, it provides risk capital for failed products. Within this context, we consider further discussions about a public return on investment and its reflection in pricing policies and decisions justified.

The Unintended Consequences of Peacebuilding and Peacekeeping Interventions Contributing to the Rise of Violent Extremism

2021 ◽  
pp. 1-19
Author(s):  
Arlinda Rrustemi
Keyword(s):  
Empirical Data ◽  
International Community ◽  
Unintended Consequences ◽  
The State ◽  
Affected Individual ◽  
Peace Building ◽  
Violent Extremism ◽  
The Subject

Abstract This article uncovers the nexus between the state- and peacebuilding efforts and religious violent extremism. Exploring an exemplary lifestory interview with a directly affected individual, the article makes use of empirical data to inform the current theoretical debates on the subject. The article shows how the inefficient state and peace building efforts unintendedly lead to a rise in religious violent extremism. These errors from the international community in Kosovo became a source of religious violent extremism in the case of Kosovo, as the exemplary lifestory shows.

APPLICATION OF THE RULE OF LAW IN JUDICIAL PRACTICE

2017 ◽  
Author(s):  
Lyudmyla Bogachova ◽  
Keyword(s):  
Human Rights ◽  
Rule Of Law ◽  
Social Relations ◽  
Political Power ◽  
Early Stage ◽  
The State ◽  
Broad Sense ◽  
Constitutional Court ◽  
The Rule Of Law ◽  
Judicial Practice

The article defines the concept of the principle of the rule of law both in the narrow and broad sense. In the narrow sense, the principle of the rule of law is understood as the rule of law over legislation, and in the broad sense - as the rule of law over the state, state arbitrariness. Different approaches to disclosing the content of the principle of the rule of law in national and European legal doctrines are systematized. The lack of a single generally accepted concept of the principle of "rule of law" is emphasized. The decisions of the European Court of Human Rights are analyzed; attention is focused on their interpretation of the rule of law. The realization of the principle of the rule of law, primarily presupposes the domination of inalienable and inviolable human rights and freedoms over the political power of the state, and also requires quality laws and observance of the principle of legal certainty. The interpretation of the principle of the rule of law in the decisions of the Constitutional Court of Ukraine is considered. The CCU emphasizes that the rule of law is first and foremost the "rule of law in society"; characterizes the principle, linking it to the ideas of social justice, freedom and equality, without which it is impossible to imagine true human development and existence. The Constitutional Court calls justice as one of the basic principles of law, which is crucial in defining it as a regulator of social relations, one of the universal dimensions of law. Examples of application of the rule of law in the practice of the Supreme Court of Ukraine are given. Judges not only make a formal reference to the rule of law, but also try to analyze and disclose the content of its constituent elements (requirements) within a specific legal case. The main problems that hinder the effective implementation and realization of the rule of law in judicial practice are identified, namely - the lack of proper regulation and official interpretation; low quality of laws and legislative process; excessive number of conflicting laws; low level of legal awareness and legal culture of Ukrainian society, and early stage of civil society development in Ukraine. It is concluded that the rule of law is a principle whose main content is expressed in the following aspects: ensuring the rule of law over political power; subordination of state institutions to the needs of human rights protection and ensuring their implementation; priority of these rights over all other values of democratic, social, and legal state; preventing the manifestation of arbitrariness of state power, as well as ensuring compliance with the requirements of justice.

scholarly journals Solving Environmental Problems Together? The Roles of Value Orientations and Trust in the State in Environmental Policy Support among Swedish Undergraduate Students

2018 ◽  
Vol 8 (3) ◽  
pp. 124 ◽  
Author(s):  
Niklas Harring ◽  
Tomas Torbjörnsson ◽  
Cecilia Lundholm
Keyword(s):  
Environmental Policy ◽  
Undergraduate Students ◽  
Policy Instruments ◽  
The State ◽  
Value Orientations ◽  
Policy Support ◽  
Left Wing ◽  
Environmental Intervention ◽  
Environmental Policy Instruments ◽  
Personal Norms

This paper explores whether value orientation (VO) and trust in the state (TIS) are linked to support for environmental intervention and steering among Swedish students in economics, law, and political science. Furthermore, we considered whether environmental personal norms mediate the link between VO and support for environmental policy instruments and finally, whether TIS moderates the link between environmental personal norms and support for environmental policy instruments, testing this on a sample of over 800 Swedish students. We found a positive link between both a self-transcendence VO and TIS on environmental policy support; however, we cannot confirm a moderating effect of TIS on the relation between environmental personal norms and policy support. Furthermore, left-wing students displayed stronger support for environmental intervention. We conclude that more knowledge on programme-specific characteristics regarding environmental values, beliefs, and attitudes among freshman students can enhance sustainability teaching intended to develop the students’ critical and reflective capabilities.

scholarly journals Selected Social Policy Instruments in Relation to Tax Policy

2018 ◽  
Vol 7 (11) ◽  
pp. 241 ◽  
Author(s):  
Vladimíra Žofčinová ◽  
Zuzana Horváthová ◽  
Andrea Čajková
Keyword(s):  
Social Policy ◽  
Minimum Wage ◽  
Tax Policy ◽  
Slovak Republic ◽  
Policy Instruments ◽  
Social Function ◽  
The State ◽  
Tax Collection ◽  
Subsistence Minimum ◽  
The Social

Tax sovereignty is now an expression of the phenomenon of state power. In general, there is a widespread but also accepted view that a citizen is dependent on the state and the state is dependent on tax resources. The social status of a citizen in the state is of great importance; it affects the development of personality and, last but not least, reflects the degree of democracy acquired in a particular state. Various tax law measures for the benefit of the citizen are important for the identification of social behavior and are an attempt to improve certain ways of life. The aim and ambition of this article is to emphasize the tools of social policy (e.g., minimum wage, subsistence minimum, social right to work) that are related to the social function of taxing income. In this context, the authors deal with a social function of tax collection and imposing of taxes, justice in taxation, and point out social aspects of the system of taxes in the Slovak Republic. In this article, the authors present the attitudes of both critics and proponents. It also deals with tax justice, which is often a category subjective to the evaluator. The benchmarking attribute of tax collection should be that citizens will have the certainty of social justice in the state and will therefore pay attention to the minimum wage and subsistence minimum as an integral part of tax policy under the legal conditions of the Slovak Republic. All tax legislation, especially tax reform, is perceived with a certain sensitivity regarding tax subjects.

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