Politicians have been misled by innovation myths

New Scientist (Highfield) - There is one simple science policy issue that has united the main political parties over the past three decades: how to squeeze more profit out of Britain's world-class science. Margaret Thatcher, Gordon Brown and the prime ministers in between have been passionate about the central role that science should play in a modern economy. So it comes as a surprise to see the chronic policy blunders identified by a recent report from the University of Cambridge. Cambridge is seen as a beacon of how to innovate and has spawned new sectors of industry in printing technology, semiconductors, wireless technology, software and scientific instruments, for example.

Exploding the Myths of UK Innovation Policy argues from the example of Cambridge that government thinking has been heavily influenced by three myths:

• University research is the key source of technology and innovation for new hi-tech firms;
• Venture capital is the primary source of finance;
• The best way for Government to support technology development in companies is by funding multi-partner research collaborations between universities and private sector firm.

What is most shocking of all is its suggestion that government policy seems to have overlooked the obvious - that UK government innovation policy should be focused on the needs of customers. [This suggestion applies to U.S. policies as well]

Reposted via: Innovation Daily