The future of TBED policies

A manifestation of growing technological complexity is the need for an equally complex supporting technology infrastructure to enable optimal private-sector R&D portfolio selection, efficient management of the subsequent R&D, scale-up for production, and eventual timely and accurate commercialization decisions. Collectively, this private-public R&D and commercialization process requires accurate identification of areas of underinvestment and the targeting and design of appropriate technological infrastructure responses. These challenges have created the need for more sophisticated policy infrastructures, which can respond to the need for risk sharing and dynamic research portfolio management. Further, a broader range of policy instruments is increasingly required for the emerging requirements of production scale-up and the provision of a market development infrastructure (performance assurance standards). Supporting all three policy targets requires accurate policy decisions with respect to prioritization and the selection of specific policy mechanisms.