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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE

CHARLES W. WESSNER, EDITOR

Board on Science, Technology, and Economic Policy

Policy Division

National Research Council

NATIONAL ACADEMY PRESS
Washington, D.C.



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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE CHARLES W. WESSNER, EDITOR Board on Science, Technology, and Economic Policy Policy Division National Research Council NATIONAL ACADEMY PRESS Washington, D.C.

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE NATIONAL ACADEMY PRESS 2101 Constitution Avenue, N.W. Washington, D.C. 20418 NOTICE: The project that is the subject of this report was approved by the Governing Board of the National Research Council, whose members are drawn from the councils of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine. The members of the committee responsible for the report were chosen for their special competences and with regard for appropriate balance. This report has been reviewed by a group other than the authors according to procedures approved by a Report Review Committee consisting of members of the National Academy of Sciences, the National Academy of Engineering, and the Institute of Medicine. Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the author(s) and do not necessarily reflect the views of the organizations or agencies that provided support for the project. International Standard Book Number: 0-309-06929-7 Limited copies are available from: Board on Science, Technology, and Economic Policy National Research Council 1055 Thomas Jefferson Street, N.W. Washington, D.C. 20007 202-334-2200 Additional copies are available for sale from: National Academy Press Box 285 2101 Constitution Ave., N.W. Washington, D.C. 20055 800-624-6242 202-334-3313 (in the Washington Metropolitan Area) Internet: http://www.nap.edu Copyright 2000 by the National Academy of Sciences. All rights reserved. Printed in the United States of America

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE THE NATIONAL ACADEMIES National Academy of Sciences National Academy of Engineering Institute of Medicine National Research Council The National Academy of Sciences is a private, nonprofit, self-perpetuating society of distinguished scholars engaged in scientific and engineering research, dedicated to the furtherance of science and technology and to their use for the general welfare. Upon the authority of the charter granted to it by the Congress in 1863, the Academy has a mandate that requires it to advise the federal government on scientific and technical matters. Dr. Bruce M. Alberts is president of the National Academy of Sciences. The National Academy of Engineering was established in 1964, under the charter of the National Academy of Sciences, as a parallel organization of outstanding engineers. It is autonomous in its administration and in the selection of its members, sharing with the National Academy of Sciences the responsibility for advising the federal government. The National Academy of Engineering also sponsors engineering programs aimed at meeting national needs, encourages education and research, and recognizes the superior achievements of engineers. Dr. William A. Wulf is president of the National Academy of Engineering. The Institute of Medicine was established in 1970 by the National Academy of Sciences to secure the services of eminent members of appropriate professions in the examination of policy matters pertaining to the health of the public. The Institute acts under the responsibility given to the National Academy of Sciences by its congressional charter to be an adviser to the federal government and, upon its own initiative, to identify issues of medical care, research, and education. Dr. Kenneth I. Shine is president of the Institute of Medicine. The National Research Council was organized by the National Academy of Sciences in 1916 to associate the broad community of science and technology with the Academy’s purposes of furthering knowledge and advising the federal government. Functioning in accordance with general policies determined by the Academy, the Council has become the principal operating agency of both the National Academy of Sciences and the National Academy of Engineering in providing services to the government, the public, and the scientific and engineering communities. The Council is administered jointly by both Academies and the Institute of Medicine. Dr. Bruce M. Alberts and Dr. William A. Wulf are chairman and vice chairman, respectively, of the National Research Council.

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE This page in the original is blank.

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE For the National Research Council (NRC), this project was overseen by the Board on Science, Technology, and Economic Policy (STEP), a standing board of the NRC established by the National Academies of Sciences and Engineering and the Institute of Medicine in 1991. The mandate of the STEP Board is to integrate understanding of scientific, technological, and economic elements in the formulation of national policies to promote the economic well-being of the United States. A distinctive characteristic of STEP’S approach is its frequent interactions with public- and private-sector decision makers. STEP bridges the disciplines of business management, engineering, economics, and the social sciences to bring diverse expertise to bear on pressing public policy questions. The members of the STEP Board* and the NRC staff are listed below: Dale Jorgenson, Chair Frederic Eaton Abbe Professor of Economics Harvard University Cambridge, Massachusetts M. Kathy Behrens Managing Partner Robertson, Stephens Investment Management San Francisco, California James F. Gibbons Professor of Engineering Stanford University Stanford, California Bronwyn Hall Associate Professor of Economics University of California at Berkeley Berkeley, California Ralph Landau Consulting Professor of Economics Stanford University Stanford, California Richard Levin President Yale University New Haven, Connecticut William J. Spencer, Vice-Chair Chairman SEMATECH Austin, Texas Mark B. Myers Senior Vice-President Xerox Corporation Stamford, Connecticut Edward E. Penhoet Dean, School of Public Health University of California at Berkeley Berkeley, California A. Michael Spence Dean, Graduate School of Business Stanford University Stanford, California Joseph E. Stiglitz Senior Vice-President for Development Economics The World Bank Washington, D.C. Alan Wm. Wolff Managing Partner Dewey Ballantine Washington, D.C. * As of February 2000.

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE STEP Staff* Stephen A. Merrill Executive Director John B. Horrigan Staff Officer Philip Aspden Senior Program Officer David E. Dierksheide Program Associate Charles W. Wessner Program Director Craig M. Schultz Research Associate McAlister T. Clabaugh Program Associate * As of February 2000.

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE Steering Committee for Government-Industry Partnerships for the Development of New Technologies* Gordon Moore, Chair Chairman Emeritus Intel Corporation M. Kathy Behrens Managing Partner Robertson, Stephens Investment Management and STEP Board Michael Borrus Managing Director Petkevich & Partners, LLP Iain M. Cockburn Professor of Finance and Economics Boston University Kenneth Flamm Dean Rusk Chair in International Affairs LBJ School of Public Affairs University of Texas at Austin James F. Gibbons Professor of Engineering Stanford University and STEP Board W. Clark McFadden Partner Dewey Ballantine Burton J. McMurtry General Partner Technology Venture Investors William J. Spencer, Vice-Chair Chairman, SEMATECH and STEP Board Mark B. Myers Senior Vice-President Xerox Corporation and STEP Board Richard Nelson George Blumenthal Professor of International and Public Affairs Columbia University Edward E. Penhoet Dean, School of Public Health University of California at Berkeley and STEP Board Charles Trimble Vice-Chairman Trimble Navigation John P. Walker Chairman and Chief Executive Officer Axys Pharmaceuticals, Inc. Patrick Windham Adjunct Professor Stanford University * As of February 2000.

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE Project Staff* Charles W. Wessner Study Director McAlister T. Clabaugh Program Associate John B. Horrigan Staff Officer David E. Dierksheide Program Associate * As of February 2000.

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE The Small Business Innovation Research Program: An Assessment of the Department of Defense Fast Track Initiative Research Team The National Research Council gratefully acknowledges the contributions of the members of the research team.* Robert B. Archibald The College of William and Mary David B. Audretsch Indiana University Peter J. Cahill BRTRC, Inc. Reid Cramer University of Texas at Austin Maryann P. Feldman Johns Hopkins University David H. Finifter The College of William and Mary John B. Horrigan National Research Council Colin Kegler Harvard University Joshua Lerner Harvard Business School Albert N. Link University of North Carolina at Greensboro John T. Scott Dartmouth College Claudia Weigand Indiana University Juergen Weigand Indiana University Charles W. Wessner National Research Council Robert H. Wilson University of Texas at Austin * Biographies of the Research Team are included in Annex A.

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE National Research Council Board on Science, Technology, and Economic Policy Sponsors The National Research Council gratefully acknowledges the support of the following sponsors: U.S. Department of Defense National Science Foundation U.S. Department of Energy Office of Naval Research National Institutes of Health National Institute of Standards and Technology National Aeronautics and Space Administration Sandia National Laboratories Electric Power Research Institute International Business Machines Kulicke and Soffa Industries Merck and Company Milliken Industries Motorola Nortel Proctor and Gamble Silicon Valley Group, Incorporated Advanced Micro Devices Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the authors and do not necessarily reflect the views of the project sponsors.

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE Contents  I.   PREFACE   3  II.   INTRODUCTION   15  III.   RECOMMENDATIONS AND FINDINGS   31  IV.   PAPERS        Fast Track: Is It Speeding Commercialization of Department of Defense Small Business Innovation Research Projects? Peter Cahill, BRTRC, Inc.   43      An Assessment of the Small Business Innovation Research Program in New England: Fast Track Compared with Non-Fast Track Projects John T. Scott, Dartmouth College   104      Patterns of Firm Participation in the Small Business Innovation Research Program in Southwestern and Mountain States Reid Cramer, University of Texas at Austin   141      Does the Small Business Innovation Research Program Foster Entrepreneurial Behavior? Evidence from Indiana David B. Audretsch, Juergen Weigand, and Claudia Weigand,Indiana University   160

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The Small Business Innovation Research Program: AN ASSESSMENT OF THE DEPARTMENT OF DEFENSE FAST TRACK INITIATIVE      An Assessment of the Small Business Innovation Research Fast Track Program in the Southeastern States Albert N. Link, University of North Carolina at Greensboro   194      Evaluation of the Department of Defense Small Business Innovation Research Program and the Fast Track Initiative: A Balanced Approach Robert B. Archibald and David H. Finifter, The College of William and Mary   211      Role of the Department of Defense in Building Biotech Expertise Maryann P. Feldman, Johns Hopkins University   251      Estimates of the Social Returns to Small Business Innovation Research Projects Albert N. Link, University of North Carolina at Greensboro, and John T. Scott, Dartmouth College   275      Statistical Analysis of the National Academy of Sciences Survey of SBIR Awardees: Analyzing the Influence of the Fast Track Program David B. Audretsch, Indiana University, Albert N. Link, University of North Carolina at Greensboro, and John T. Scott, Dartmouth College   291      Evaluating the Small Business Innovation Research Program: A Literature Review Joshua Lerner, Harvard Business School, and Colin Kegler, Harvard University   307  V.   ANNEX       A.  Research Team Biographies   327     B.  Participants The Small Business Innovation Research Program: A Review of Current Research May 5, 1999, Washington, D.C.   335     C.  Case Study Template   339     D.  Description of Department of Defense SBIR Fast Track Program   343     E.  Bibliography   345