Companies know exactly what they spend on research, but knowing exactly what they get for their money is a persistent problem. Without a good way to measure value, research—especially innovative fundamental research—can be viewed as a cost that can be cut to boost near-term earnings (supposedly without long-term consequences). The number of patents is one metric for measuring the value of research, but that information is not necessarily useful without knowing the business value of those patents in the marketplace. What other metrics serve to highlight the value of research and innovation? This meeting considered the value of patents as a proxy for measuring innovation, how patents fall short as a metric for assessing research impacts, and what other metrics can better serve the need to assess research value and impacts.
KEYNOTE ADDRESS
Anne Marie Knott, Professor of Strategy, Olin Business School at the Washington University in St. Louis
HOW VALUABLE ARE PATENTS AS A PROXY FOR INNOVATION?
Rafael Escalona Reynoso, Lead Researcher at the Global Innovation Index, Cornell SC Johnson College of Business
Carol Robbins, Senior Economist, Science and Engineering Indicators Program at the National Center for Science and Engineering Statistics, National Science Foundation
WHERE DO PATENTS FALL SHORT AS A METRIC FOR ASSESSING RESEARCH IMPACT?
Petra Moser, Associate Professor of Economics, Stern School of Business at New York University
Bhaven Sampat, Associate Professor of Health Policy and Management at Columbia University
SCIENCE OF SCIENCE AND INNOVATION POLICY
Maryann Feldman, Heninger Distinguished Professor in the Department of Public Policy at the University of North Carolina and Director of the Science for Science and Innovation Policy Program at NSF
HIGHLY INTEGRATED BASIC AND RESPONSIVE RESEARCH
Ben Shneiderman, Distinguished University Professor of Computer Science at the University of Maryland
WHAT OTHER METRICS CAN BETTER SERVE THE NEED TO ASSESS RESEARCH VALUE AND IMPACT?
Diana Hicks, Professor in the School of Public Policy, Georgia Institute of Technology
Lee Fleming, Faculty Director, Coleman Fung Institute for Engineering Leadership, UC Berkeley
Julie Carruthers, Senior Science and Technology Advisor at the Office of Science, U.S. Department of Energy
MAPPING INNOVATION ECOSYSTEMS
Gary Markovits, Innovation Business Partners