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Leveraging Research and Development: Assessing the Impact of the U.S. Advanced Technology Program

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  • Feldman, Maryann P
  • Kelley, Maryellen R

Abstract

This paper examines the factors that affect a firm's chances of winning an award from the Advanced Technology Program (ATP) and the subsequent impact of the award on a firm's success in raising additional funds for its research and development (R&D) activities. Analysis of data from a survey of 1998 ATP applicants shows that proposals with higher ratings by technical and business/economic experts have a greater chance of winning an award. Further, the projects and firms selected by ATP are more willing to share their research findings with other firms, and tend to be those that open up new pathways for innovation through combining technical areas or by forming new R&D partnerships. Most of the non-winners have not proceeded with any aspect of the R&D project proposed to ATP and, of those that have, most did so at a smaller scale. Furthermore, the ATP award has prestige value for the winning firms; the halo effect from the award increases the success of these firms in attracting additional funding from other sources. Our conclusion is that the ATP is leveraging activities that have a strong potential for broad-based economic benefit. Copyright 2003 by Kluwer Academic Publishers

Suggested Citation

  • Feldman, Maryann P & Kelley, Maryellen R, 2003. "Leveraging Research and Development: Assessing the Impact of the U.S. Advanced Technology Program," Small Business Economics, Springer, vol. 20(2), pages 153-165, March.
  • Handle: RePEc:kap:sbusec:v:20:y:2003:i:2:p:153-65
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    Cited by:

    1. Toole, Andrew A. & Czarnitzki, Dirk, 2007. "Biomedical academic entrepreneurship through the SBIR program," Journal of Economic Behavior & Organization, Elsevier, vol. 63(4), pages 716-738, August.
    2. Klette, Tor Jakob & Møen, Jarle, 2011. "R&D investment responses to R&D subsidies: A theoretical analysis and a microeconometric study," Discussion Papers 2011/15, Norwegian School of Economics, Department of Business and Management Science.
    3. Andrew Toole & Calum Turvey, 2009. "How does initial public financing influence private incentives for follow-on investment in early-stage technologies?," The Journal of Technology Transfer, Springer, vol. 34(1), pages 43-58, February.
    4. Huang, Chi-Cheng & Chu, Pin-Yu & Chiang, Yu-Hsiu, 2008. "A fuzzy AHP application in government-sponsored R&D project selection," Omega, Elsevier, vol. 36(6), pages 1038-1052, December.
    5. Busom, Isabel & Fernández-Ribas, Andrea, 2008. "The impact of firm participation in R&D programmes on R&D partnerships," Research Policy, Elsevier, vol. 37(2), pages 240-257, March.
    6. Bertoni, Fabio & Tykvová, Tereza, 2015. "Does governmental venture capital spur invention and innovation? Evidence from young European biotech companies," Research Policy, Elsevier, vol. 44(4), pages 925-935.
    7. Barbara ERMINI, 2008. "Oltre Gibrat. Capitale umano dei fondatori, endogeneita' del finanziamento pubblico e crescita delle giovani imprese hi-tech italiane," Working Papers 322, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    8. Chih-Sheng Hsieh & Michael D. König & Xiaodong Liu, 2012. "Network formation with local complements and global substitutes: the case of R&D networks," ECON - Working Papers 217, Department of Economics - University of Zurich, revised Feb 2017.
    9. Albert N. Link & David Paton & Donald S. Siegel, 2005. "An econometric analysis of trends in research joint venture activity," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 149-158.
    10. repec:spr:scient:v:112:y:2017:i:3:d:10.1007_s11192-017-2429-4 is not listed on IDEAS
    11. Ma, Daw & Chang, Chia-Chin & Hung, Shiu-Wan, 2013. "The selection of technology for late-starters: A case study of the energy-smart photovoltaic industry," Economic Modelling, Elsevier, vol. 35(C), pages 10-20.
    12. Ensthaler, Ludwig & Giebe, Thomas, 2014. "A dynamic auction for multi-object procurement under a hard budget constraint," Research Policy, Elsevier, vol. 43(1), pages 179-189.
    13. Bertoni, Fabio & Tykvová, Tereza, 2013. "Which form of venture capital is most supportive of innovation? Evidence from European biotechnology companies," FZID Discussion Papers 69-2013, University of Hohenheim, Center for Research on Innovation and Services (FZID).
    14. Russell Thomson & Elizabeth Webster, 2012. "The Design of R & D Support Schemes for Industry," Economic Papers, The Economic Society of Australia, vol. 31(4), pages 464-477, December.
    15. repec:eee:respol:v:46:y:2017:i:6:p:1142-1161 is not listed on IDEAS
    16. Jeffrey L. Furman, 2012. "The America COMPETES Acts: The Future of U.S. Physical Science and Engineering Research?," NBER Chapters,in: Innovation Policy and the Economy, Volume 13, pages 101-149 National Bureau of Economic Research, Inc.
    17. Massimo Colombo & Luca Grilli, 2007. "Funding Gaps? Access To Bank Loans By High-Tech Start-Ups," Small Business Economics, Springer, vol. 29(1), pages 25-46, June.

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