BOOK TIPS | The role of small businesses in the innovation system

Public funding of small business research and development has played an important role in the United States since the 1940s. In the book Small Business Innovation in the Public Interest: A Study of the U.S. National Institutes of Health, the authors examine how small businesses receiving public funding from the National Institutes of Health (NIH) contribute to innovation, economic growth and community development.

The authors describe the historical importance of small businesses to the NIH and analyze data on their research activities. Among the issues addressed are commercialization patterns, patenting activities, academic-industry collaboration, and the impact of diversity initiatives on results. The book also highlights how successful small businesses have managed to translate research projects into technological development and market benefits.

Using both historical perspectives and empirical examples, the book aims to provide a nuanced view of the role of small businesses in the US innovation system. It is aimed at researchers, students and practitioners in health policy, economics, entrepreneurship and innovation – but also at policy makers who want to understand how public investments can create long-term effects for both public health and the economy.