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Funding Breakthrough Research: Promises and Challenges of the “ARPA Model”

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  • Pierre Azoulay
  • Erica Fuchs
  • Anna P. Goldstein
  • Michael Kearney

Abstract

From its 1958 origin in defense, the Advanced Research Projects Agency (ARPA) model for research funding has, in the last two decades, spread to other parts of the US federal government with the goal of developing radically new technologies. In this paper, we propose that the key elements of the ARPA model for research funding are organizational flexibility on an administrative level and significant authority given to program directors to design programs, select projects, and actively manage projects. We identify the ARPA model’s domain as mission-oriented research on nascent S-curves within an inefficient innovation system. Finally, we describe some of the challenges to implementing the ARPA model, and we comment on the role of ARPA in the landscape of research-funding approaches.

Suggested Citation

  • Pierre Azoulay & Erica Fuchs & Anna P. Goldstein & Michael Kearney, 2019. "Funding Breakthrough Research: Promises and Challenges of the “ARPA Model”," Innovation Policy and the Economy, University of Chicago Press, vol. 19(1), pages 69-96.
    • Handle: RePEc:ucp:ipolec:doi:10.1086/699933
    DOI: 10.1086/699933
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    Cited by:

    1. Watson, Anna, 2022. "Designing publicly funded organisations for accelerated low carbon innovation: A case study of the ETI, UK and ARPA-E, US," Energy Policy, Elsevier, vol. 168(C).
    2. Joshua Graff Zivin & Elizabeth Lyons, 2021. "The Effects of Prize Structures on Innovative Performance," AEA Papers and Proceedings, American Economic Association, vol. 111, pages 577-581, May.
    3. Silvia Dalla Fontana & Ramana Nanda, 2023. "Innovating to Net Zero: Can Venture Capital and Start-Ups Play a Meaningful Role?," Entrepreneurship and Innovation Policy and the Economy, University of Chicago Press, vol. 2(1), pages 79-105.
    4. Ashish Arora & Sharon Belenzon & Andrea Patacconi & Jungkyu Suh, 2020. "The Changing Structure of American Innovation: Some Cautionary Remarks for Economic Growth," Innovation Policy and the Economy, University of Chicago Press, vol. 20(1), pages 39-93.
    5. Fremstad, Anders & Paul, Mark, 2022. "Neoliberalism and climate change: How the free-market myth has prevented climate action," Ecological Economics, Elsevier, vol. 197(C).
    6. Nicholas Bloom & John Van Reenen & Heidi Williams, 2019. "A toolkit of policies to promote innovation," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 10.
    7. Margaret K. Kyle, 2019. "The Alignment of Innovation Policy and Social Welfare: Evidence from Pharmaceuticals," NBER Chapters, in: Innovation Policy and the Economy, Volume 20, pages 95-123, National Bureau of Economic Research, Inc.
    8. Joshua S. Gans & Michael Kearney & Erin L. Scott & Scott Stern, 2021. "Choosing Technology: An Entrepreneurial Strategy Approach," Strategy Science, INFORMS, vol. 6(1), pages 39-53, March.
    9. Goldstein, Anna P. & Kearney, Michael, 2020. "Know when to fold ‘em: An empirical description of risk management in public research funding," Research Policy, Elsevier, vol. 49(1).
    10. Daniel P. Gross & Bhaven N. Sampat, 2022. "Crisis Innovation Policy from World War II to COVID-19," Entrepreneurship and Innovation Policy and the Economy, University of Chicago Press, vol. 1(1), pages 135-181.
    11. Dominique Foray, 2022. "The Economics of Incomplete Plan -on Conditions, Procedures and Design of Future Mission- Oriented Innovation Policies," Hacienda Pública Española / Review of Public Economics, IEF, vol. 243(4), pages 123-146, December.

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