Technology Policy and Collaborative Research in Europe

Abstract

Governments in Europe have, for many years, been involved in implementing mechanisms designed to stimulate scientific advances and industrial technological change. Between 1945 and the mid-1970s, the two main tracks of policy were science policy and industrial policy. Science policy included scientific education and research funding in universities and public sector laboratories. Industrial policy included industrial restructuring, capital grants, R&D subsidies and subsidized collective industrial research infrastructures. In terms of firm size, emphasis was placed mainly on industrial agglomeration and the creation of national flagship companies, in areas such as computers, that were capable of competing on a world scale. In all European countries, very little venture capital was available during this period to fund the formation and growth of new technology-based firms (NTBFs).

The author would like gratefully to acknowledge the financial support of the Leverhulme Trust during preparation of this chapter.