Estimating Social and Private Returns from Innovations Based on the Advanced Technology Program: Cases and Data Sources
Martin, S. A., & Bingham, T. H. (1997). Estimating Social and Private Returns from Innovations Based on the Advanced Technology Program: Cases and Data Sources.
The National Institute of Standards and Technology’s (NIST’s) AdvancedTechnology Program (ATP) began in 1990 as a cost-sharing program toassist U.S. industry in pursuing high-risk, enabling technologies withsignificant commercial and economic potential. The ATP conductseconomic analyses for the purpose of increasing and measuring the shortandlong-run impacts of the technology development projects it funds andfor the program overall.Research Triangle Institute (RTI), under contract to NIST, is examiningthe economic impact of ATP-funded projects in tissue engineering.These seven projects, described in Table 1-1, constitute a “virtualprogram” in tissue engineering. Successful projects will serve asplatforms for developing new therapies to treat a variety of diseases andinjuries. These therapies contribute to social welfare by improvingpatient outcomes, reducing the cost of medical care, or both. In addition,these technologies may bring significant private returns to ATPrecipients.