This chapter provides an overview of grant funding as an innovation policy tool aimed at both practitioners and science policy scholars. We first discuss how grants relate to other contractual mechanisms such as patents, prizes, or procurement contracts, and argue that, among these, grants are...

This paper investigates the impact of federal extramural research funding on total expenditures for life sciences research and development (R&D) at U.S. universities, to determine whether federal R&D funding spurs funding from non-federal (private and state/local government) sources. We use a...

From its 1958 origin in defense, the Advanced Research Projects Agency (ARPA) model for research funding has, in the last two decades, spread to other parts of the US federal government with the goal of developing radically new technologies. In this paper, we propose that the key elements of the...