Increasing investment in innovation has been a major goal of research and innovation policy in Europe over the past decade. Yet to secure competitive advantage and achieve growth, R&D investment has to be translated into successful innovations, and this is first and foremost the task of firms....

Foreign-owned subsidiaries make significant contributions to national Research and Development (R&D) in many host countries. Policymakers often support subsidiaries through R&D grants and R&D tax credits. A key objective of this funding is to leverage R&D-driven firm performance benefits for the...

The paper analyzes how geographical clustering of beneficiaries might affect the effectiveness of public innovation support programs. The geographical proximity of firms operating in the same industry or field of technology is expected to facilitate innovation through knowledge spillovers and...

From its 1958 origin in defense, the Advanced Research Projects Agency (ARPA) model for research funding has, in the last two decades, spread to other parts of the US federal government with the goal of developing radically new technologies. In this paper, we propose that the key elements of the...