Title: From free money to free market

Authors: Carl W. Nelson

Addresses: Ballistic Missile Defence Organization, US Department of Defence, 7100 Defence Pentagon, Washington, DC 20301-7100, USA

Abstract: The US Small Business Innovation Research programme has attracted private sector investment in new technology developed for anti-missile defences. From the SBIR programme within the Ballistic Missile Defence Organization small US firms have issued public stock, grown 48% in employment, and attracted a growing pool of private sector money to match the government subsidy. Other governments can subsidize firms with a little free money in ways that can lead to products in a free market without government having over-subsidized the uncompetitive.

Keywords: technological innovation; small business innovation; technology investment; government subsidy; venture capital; commercialisation; anti-missile technology; new technology; private sector; free market; technology management.

DOI: 10.1504/IJTM.1996.025513

International Journal of Technology Management, 1996 Vol.12 No.7/8, pp.748 - 759

Published online: 22 May 2009 *

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