The value of public-private partnerships in driving innovation

New_DOE_Logo_Color_042808_sizedBy Gus Schaefer, The Hill’s Congress Blog — Over the last few decades, American innovation and technological advancement  have been largely attributed to private sector developments. From Mark  Zuckerberg’s Facebook to Elon Musk’s recent unveiling of the Hyperloop  high-speed train, the American public has come to perceive that anything truly  innovative and revolutionary must be catalyzed from the private sector. Largely  untold in the story of these advancements is the important role public-private  partnerships play in promoting innovation and technological deployment, while  mitigating new risks.

Public-private partnerships have a history in maintaining a commitment to  scientific excellence, guiding the conception, safety and deployment of various  technologies that have paved the road to where we are today (including the  advent of the Internet, which, while created in a government lab, was actually  seeded by corporate visions). While the private sector drives scientific  developments and creates products and services in such a way to be embraced by  the marketplace, the public sector shapes the foundation through supporting  policies and relevant research. Joint research leverages unique and  complementary sets of expertise in resource-efficient ways to understand and  address the risk “profiles” of new technologies. Read more.

Posted August 28, 2013