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1. Using Advance Market Commitments for Public Purpose Technology Development

Author:
Alan Ho and Jake Taylor
Publication Date:
06-2021
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Over the last year, there has been a renewed focus on improving American competitiveness in key fields of science and technology. Numerous bills and executive initiatives have been implemented or proposed to dramatically increase investment into science and technology. Recent examples, including the Endless Frontiers and the Clean Futures Act, use a wide variety of policy tools to advance research and development (R&D) along multiple axis. Here we consider the free market portion of these tools, in which the private sector plays a key role in determining topic and direction, while the public sector supports these activities through high-level directives, conditional contracts, and other mechanisms. While other approaches such as public purpose consortia and R&D tax credits have been considered elsewhere, here we focus on Advance Market Commitments. Advance Market Commitments (AMCs)are a powerful policy tool that can be used to ensure that America can retain leadership in technology fields such as climate change, computing, and medicine. In an AMC, a U.S. agency commits to buying some specified new technology before that technology exists. This provides a price, specification, and framework for evaluation that can streamline decision making and funding approaches in the private sector and accelerate progress towards well defined technical outcomes without being directed about the underlying solution and steps along the path. As such, AMCs represent a powerful option for ground-up technological building where private investment replaces the role of more traditional, blue sky government funding, and the larger market for the resulting product is jump-started by an initial government market.
Topic:
Markets, Science and Technology, and Vaccine
Political Geography:
Global Focus

2. Supporting a Public Purpose in Research & Development: The Role of Tax Credits

Author:
Jake Taylor
Publication Date:
06-2021
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Tax credits for research and development are a means of incentivizing the private sector to invest their own resources on challenging problems. However, in practice, the fungibility of tax credits and other monetary elements can lead to misalignment between the public good represented by R&D and the actions of the company. In this policy brief, we consider the existing mechanism of tax credits. We see how they can encourage private sector risk-taking to enable research and development (R&D) outcomes. However, our goal is to go beyond economic growth benefits, and to include the less tangible considerations of public good and public purpose in the research and development domain. We then suggest an expansion of tax credits focused on supporting the researchers involved in the R&D and encouraging innovation in both large organizations and in startups and small businesses. This approach builds upon the existing framework of agency-led, mission-defined support of the private sector used by the U.S. government, as occurs in other programs such as America’s Seed Fund (sometimes known by its acronyms, SBIR and STTR). The integration of specific agency- and mission-focused elements to the credit system ensures that these additive credits support research and researchers whose R&D outcomes will improve the health, prosperity, and opportunity for the U.S. as a whole. Specific means of implementing this public-purpose R&D credit system under existing authorities within the executive branch are suggested, along with the public-facing mechanisms for creating and maintaining the evaluation approach of what constitutes “public purpose” as science and society progress.
Topic:
Economics, Science and Technology, International Affairs, Tax Systems, and Tax Credits
Political Geography:
Global Focus and United States of America

3. The Public-Purpose Consortium: Enabling Emerging Technology with a Public Mission

Author:
Jake Taylor
Publication Date:
10-2020
Content Type:
Policy Brief
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Imagine a speculative technology, one that is destined to change lives and improve the world, but also one where many scientific and practical questions remain to be answered. Companies and entrepreneurs, already seeing the potential, have begun spinning up new efforts and launching startups to realize products and services. You know that investors are likely underestimating both the difficulty posed by the technology and the long-term impact. The science and engineering remain far from that necessary to achieve those goals, much less understand the unintended consequences. You are now tasked with enabling the economic growth implied by these opportunities while ensuring both scientific progress and minimizing unintended negative outcomes. What do you do? Faced with this challenge in the still esoteric field of quantum information science, leaders in the Government and I worked with stakeholders from across the United States and around the world to build a foundational approach for this new technology. Rather than using a roadmap with product or milestone driven development, we instead focused on building a community around the emerging technologies and scientific challenges necessary to build quantum computers. These are devices that operate at the very limits set by nature in what and how they compute and are fantastically hard to create – so much so that their basic operation and architecture are areas of active research. And their impact is fantastically broad, thus the need to both temper expectations and enable cooperation. In executing a program to enable this new sector, we developed a specific approach for solving the challenge of blending profit motive and public good that leverages the mechanism of consortia. We are at a moment in time where cooperation between public-purpose stakeholders and profit-motive stakeholders can be an effective means of integrating public purpose into technology as it emerges. This brief covers the basic concept of a public-purpose consortium (PPC), examination of what combination of factors lead to their use for emerging technologies, and considers the key principles for organizing PPCs and enabling their success: Build Community, Enable Cooperation, Ensure Value, Institute Governance, and Keep It Lightweight.
Topic:
Science and Technology, Stakeholders, and Engineering
Political Geography:
Global Focus

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