A “Lab-To-Market Inter-Agency Summit” organized by the White House OSTP and NIH brought together 20 national experts from outside of the federal agency system to recommend ways to increase the ROI from $140 billion of annual federal R&D expenditures. Webinar presenters Joe Allen and Diane Palmintera were Co-chairs of the Summit and will discuss the recommendations from the Summit to the White House.
The Administration asked the national experts for “transformative” ideas and got them. A major unanimous recommendation was the creation of an “Office of Innovation and Federal Technology Partnerships” within OMB, and an External Advisory Board composed of private and non-profit sector representatives. Other recommendations focused on strengthening capital investments and expanding entrepreneurial resources including creation of “technology translators”, early-stage national funding mechanisms, and tax incentives to support scale-up and proof-of-concept. Recommendations were issued in August 2013 and OSTP is reportedly nearly ready to implement some of the recommendations. Stay tuned.