Colleagues,
The next virtual research seminar in our Entrepreneurship and Innovation Policy series is on February 9, from 11:00-12:15 ET. Florenta Teodoridis (University of Southern California) - will present "Consequences of an R&D division of labor on complementary innovation: Evidence from quantum computing" (with A Goldfarb and J Lu). Click HERE to register. Abstract is below.
We hope you join us.
- Tim Folta (UCONN) & Maryann Feldman (ASU)
Abstract: A recent division of labor between scientific research and applied efforts has been documented, where companies invest in scientific research only if they have the complementary assets to appropriate enough returns from their efforts to countervail spillovers to rivals. Otherwise, companies rely on academic research to provide scientific findings as input into their applied developments. A potentially significant negative consequence is the rate of development of general purpose technologies. We provide a detailed analysis of this possibility in the context of the development of quantum computers. By impacting innovation in the seeding quantum computing hardware trajectory, the division of labor negatively impacts the development of complementary trajectories, such as software. The benefits of general purpose technologies accrue through the advancement of complementary trajectories that enact a feedback loop. We find that innovation in complementary trajectories accelerates under a regime where companies are incentivized to engage in scientific research on the seeding hardware trajectory rather than rely on the documented division of labor.
FYI, the Spring Entrepreneurship and Innovation Policy virtual research seminar schedule is available. Please visit this LINK to view and register for the different seminars. Our Elevator Pitch is listed immediately below.
Elevator Pitch: Governments around the world enact policies that affect technology, innovation, and entrepreneurship. An increasing number of scholars are investigating these topics, which has implications on policy design and program implementation. Yet, scholars lack a forum for presenting their work. This virtual seminar series will fill this gap-bringing together the insights from academia and policy application-thereby increasing our understanding of policy issues and build a forum for expressing these ideas and a supportive community to nourish them.