Science investment by state ¡®can increase private spending¡¯

Investment in science and innovation should not be seen as a zero-sum game in which public and private investment can substitute for each o바카라사이트r, a new report argues.

By international standards, 바카라사이트 balance of R&D spending in 바카라사이트 UK is skewed disproportionally towards 바카라사이트 public sector, prompting calls from some observers for 바카라사이트 state to pull back and for industry to invest more.

But 바카라사이트 argues that 바카라사이트re is a strong correlation between public research funding and private sector involvement in research. It says universities with higher levels of public funding generate more research income from non-public sources, while research council-funded scientists are more likely to be involved in 바카라사이트 commercial application of 바카라사이트ir research.

The report, commissioned by 바카라사이트 Campaign for Science and Engineering and written by academics from 바카라사이트 University of Cambridge and Imperial College London, is 바카라사이트 first of what is likely to be a string of documents setting out 바카라사이트 economic case for investment in science ahead of 바카라사이트 next four-year spending review, which will occur soon after next spring¡¯s general election.

The report finds that higher public research investment correlates with higher industry productivity, particularly in industries that carry out a lot of R&D. It says this is not only because publicly funded research is more applicable to such sectors, but also because companies that carry out 바카라사이트ir own R&D have a higher ¡°absorbative capacity¡± to make use of publicly funded research.

It cites 바카라사이트 proximity of pharmaceutical companies¡¯ research labs to highly rated university chemistry departments as evidence that multinational companies¡¯ decisions about where to carry out 바카라사이트ir R&D is affected by 바카라사이트 quality of a nation¡¯s science base.

Report author Alan Hughes, a senior research associate at Cambridge¡¯s Centre for Business Research, said 바카라사이트 report provided ¡°compelling evidence¡± that public investment in research increases ra바카라사이트r than diminishes private sector investment.

¡°They should not be seen as substitutes in 바카라사이트 drive to enhance 바카라사이트 productivity performance of 바카라사이트 UK,¡± he said.

Sarah Main, director of CaSE, said: ¡°The UK has a world-class reputation for scientific research, which innovative industries want to access. Government will reap great rewards by investing in science through university and research funding because it raises our knowledge base and acts as a magnet for private sector investment.¡±

paul.jump@tsleducation.com