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Mobilising private investment to address societal challenges: The role of business in mission-oriented innovation policies

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  • OECD

Abstract

This paper examines how governments are strengthening private sector engagement in mission-oriented policies. It draws on interviews with firms and industry associations to reflect their experiences across countries. The findings show that while many governments demonstrate the value of missions to businesses, they often undermine progress by abandoning goals or failing to mobilise support beyond STI ministries. Businesses seek long-term commitment to crowd in private investment, with private sector-led bridging organisations acting as ambassadors. Effective missions deploy a systemic mix of supply- and demand-side instruments, yet often neglect regulatory reform and procurement — areas that can either block or enable private innovation. Policymakers could also do more to support technology scale-up by engaging the financial sector more effectively.

Suggested Citation

  • Oecd, 2026. "Mobilising private investment to address societal challenges: The role of business in mission-oriented innovation policies," OECD Science, Technology and Industry Policy Papers 190, OECD Publishing.
    • Handle: RePEc:oec:stiaac:190-en
    DOI: 10.1787/ff217951-en
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    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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