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Doubling Research Budgets

With enactment of the America COMPETES Act, the US set the basic research agencies -- National Science Foundation (NSF), the Department of Energy (DOE) Office of Science, and National Institute of Standards and Technology (NIST) -- on a path to doubling their research budgets.

Nearly two-thirds of papers cited in the U.S. patent applications were supported through federal funding, according to the AAAS report. However, applying the results of the research and getting the new technologies to the market is often the sticking point. This gap is often referred to as the "Valley of Death."

Commercialization in Small Business with Public-Private Partnerships

In addition to programs, like the Technology Innovation Program at NIST, which helps small high-tech entrepreneurs bring new technologies to the market, one of the policy strategies is to create public-private partnerships. Government funding can mitigate some financial risk -- which can lead to a faster pace of innovation -- and the private sector can ensure that the new technologies can get over the Valley of Death and to the market.

Advanced Vehicle Technology Act

Provides the most comprehensive authorization to date for long-term sustained funding of public-private vehicle R&D and commercial application activities in the DOE Vehicle Technologies Program.

The Manufacturing Extension Partnership at NIST

This is the only program of its kind to help keep small American manufacturers on the cutting edge by enhancing growth, improving productivity and expanding capacity.

The Advanced Research Projects Agency for Energy, (ARPA-E)

Modeled after the highly successful Defense Advanced Research Projects Agency, received an overwhelming response -- 3,700 white papers -- far exceeding anyone's expectations. There is pent-up need for this type of transformational technology development that will result in green jobs here in the U.S.