How to regain funds from technology promotion programs. Results from an evaluation of the financial instruments used in public R&D funding of incumbent SME
The success of public programmes for private sector R&D depends – among other factors – on the financing instruments used and the resulting incentives for the participating firms. There have been efforts to move away from traditional instruments – such as non-repayable grants – in order to make policy measures more effective in respect of both the aims of the financing institution and the promoted business firms (such as mezzanine-instruments). This paper discusses the results of an evaluation study, in which different instruments are examined, based on the following questions: What instrument is suitable in which kind of situation? How can the probable effects of different financing instruments be evaluated? What conclusions could be drawn for future evaluation studies?
Rothgang, M., L. Trettin and B. Lageman (2003), How to regain funds from technology promotion programs. Results from an evaluation of the financial instruments used in public R&D funding of incumbent SME. International Journal of Technology Management, 26, 2/3/4, 247-269