The United States spends more than any other nation on research and development (R&D) each year, investing over $150 billion in federally funded R&D alone. In line with President Donald J. Trump’s Management Agenda, the U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) today released a draft green paper detailing steps to modernize the U.S. system of technology transfer and innovation for the 21st century. The actions outlined in the green paper would help maximize returns on the taxpayer investment in R&D.
“Countless innovations crucial to our everyday lives, including life-saving vaccines, the Internet and GPS, can trace their roots to federal laboratories and federally funded R&D,” said Secretary of Commerce Wilbur Ross. “The steps outlined in this new report are strong proposals to pave the way for the competition-driven technological advances that are the cornerstone of American success.”