Keywords: technology promotion, SMEs, public funding, private R&, D, evaluation, funding instruments, German R&, D systems, Finnish R&, D systems
How to regain funds from technology promotion programs. Results from an evaluation of the financial instruments used in public R&D funding of incumbent SME
The success of public programmes for private sector R&D depends – among other factors – on the financing instruments used and the resulting incentives for the participating firms. There have been efforts to move away from traditional instruments – such as non-repayable grants – in order to make policy measures more effective in respect of both the aims of the financing institution and the promoted business firms (such as mezzanine-instruments). This paper discusses the results of an evaluation study, in which different instruments are examined, based on the following questions: What instrument is suitable in which kind of situation? How can the probable effects of different financing instruments be evaluated? What conclusions could be drawn for future evaluation studies?