A recent paper by Bruno Cassiman, IESE Business School, K.U and others talks about the variety of systems which companies can set up to link to
Utilizing a sample of Flemish firms, the researchers show that when private companies maintain relationships with schools and universities, they are able to maintain superior innovation performance, in particular with respect to improvements that are not directly associated with their market.
An important and repeated problem in economics has been to comprehend to what extent science affects technological improvement. We know that knowledge techniques from schools and open public research facilities make a substantial contribution in order to industrial development. Consequently, this leads to financial growth.
More recent research suggests that private sector links to basic research have significantly increased within the last decade. The data reveals an increase in spin-offs, university- company collaboration, mobility of university researchers as well as science-linkage in personal patents. For instance, there is a threefold rise in the amount of academic content in commercial patents in the United States through the middle 1990s.
The researchers have found that the “diversity” of linkages to
Another paper, Cassiman et al ( 2008), investigates the link between the quality of inventions produced by firms and also the existence of an industry-science-link (ISL). This paper focuses instead about the diversity of ISLs getting used through organization. An initial contribution from the paper would be to underline the range in Industry-Science Hyperlink (ISL) mechanisms getting used by firms, suggesting the necessity to look past a single “silver-bullet” industry-science link, to incorporate the full profile of business
This takes us back to the business level, by comparing the particular quality related to patents of companies with science linkages vis–vis patents of other firms. An essential heterogeneity occurs in these ISLs. Furthermore the different types of ISL found are not contrasting. A positive organization of these links with efficiency cannot be associated with a particular type of linkage. Furthermore, the actual association might not necessarily run as expected. Patents which directly talk about science are in fact less likely to receive funding for further development. This could be associated with their less-than utilitarian character. Patents from companies that are actively engaged within ISL at the firm level via cooperative R&D agreements, publishing or even scanning community information resources are more likely to be developed. Oddly enough, this exceptional performance continues among companies that do not make reference to science directly.
The researchers theorize that companies with active ISL have a far better understanding of basic
A number of indicators need to be monitored to obtain a representative image of the ISL activity in private firms, academic institutions, and government. If these can be developed, we can more accurately measure and forecast the correlations between pure science, private enterprise, and a country’s economy.
This will directly improve a government’s capacity to attenuate its tariffs, interest rates, trade balances, and the value of its currency.
Eventually, this will improve an institution’s abiltiy to manage its holdings in foreign currencies, or a trader’s ability to profit in the forex market.