How does a nation's science policy impact businesses?

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pohnpei397 eNotes educator| Certified Educator

The term "science policy" typically refers to the degree to which scientific endeavors are funded and/or regulated by the government of a country.  This can have a significant impact on businesses in at least two ways.

First, if a government regulates some forms of scientific research very tightly (or even bans them) firms in this field will be harmed.  For example, a firm engaged in creating genetically modified plants for agriculture will be impacted if a country places strict limits on such plants.

Second, firms may benefit if the government puts a lot of money into scientific research.  Breakthroughs achieved by government-funded scientists can have many commercial applications.

In these ways, a government's science policy can have a strong impact on some types of businesses.