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NIST Issues New Strategies to Commercialize Federally Funded R&D

1 min read

The National Institute of Standards and Technology has issued a draft green paper outlining how the government should improve investments in commercializing products built in federally-funded research and development projects. 

The document provides five strategies initially proposed in the Lab-To-Market Cross Agency Priority Goal of the President’s Management Agenda, NIST said Thursday.

To introduce government-backed R&D projects to the market, the institute suggested: \n

  • Reducing regulatory and administrative burdens for such projects.
  • Increasing engagement with private sector experts and investor.
  • Promoting entrepreneurship in R&D.
  • Supporting new tools and services for technology transfer.
  • Improving understanding of global science and technology.

\nWalter Copan, director of NIST and under secretary of commerce for standards and technology, said such actions will utilize agile partnerships to further promote federal R&D investment.

He added granting intellectual property rights for licensing and commercial development of federal research will also encourage innovation and more private sector investment in such projects. 

Commerce Secretary Wilbur Ross also said the proposals would also help drive competition in technology development across the U.S.  

NIST crafted the paper based on public inputs, stakeholder engagement sessions and review of reports and studies related to federal R&D technology transfer. 

The institute will accept additional feedback on the green paper through Jan. 9 and plans to issue a final version in early 2019.

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