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How can the US compete with other countries where innovation IS fostered and supported

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Submitted by Admin on Sun, 03/11/2018 - 17:43

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Technology acceleration funding mechanisms are available in some countries.

At least a dozen countries provide innovation-related funding directly to their Small and Medium manufacturers.

The united States does not have a program like this but.

In 2010 Canada’s IRAP provided a total of $238.9 million in direct innovation support to SME manufacturers. The support is in the form of non repayable grants of 100K - 2 million.

Germany’s Central Innovation Program (ZIM) supports R&D cooperation projects among SMEs or between SMEs in conjunction with universities and research organizations. ZIM provides grants of up to 50% of the research project cost for SMEs up to $245,000 per R&D project.

Similar programs can be found in Austria, China, Japan, Korea, Taiwan, and the United Kingdom.

Germany spends six times more than the United States on industrial production and technology research—and also explore mechanisms to more directly help fund SME manufacturers’ R&D, innovation, and new product development efforts.