What actions could federal policy makers take to enhance science and technology enterprises in the U.S?

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

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A major action that federal policy makers could take would be to increase federal funding for research and development in the science and technology sectors.

Enterprises that are based on science and technology are highly dependent on knowledge and on research.  This makes it very expensive for small firms to start up.  However, if the government would put more money into (for example) research grants that could be given to colleges and universities, the supply of scientific knowledge would expand.  As this pool expanded, it would be easier for new firms to arise in this sector of the economy.

If the government wants to enhance the chances of science and technology enterprises, it should help to create the knowledge needed for such enterprises to thrive.

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