Surviving the “valley of death”: A comparative analysis
Tóm tắt
This article describes the process by which two industries—the environmental and pharmaceutical—survive the funding gap in new technology development known as the “valley of death”. The article (1) defines the valley of death, including a brief description of the causes; (2) describes private financial resources that the pharmaceutical industry has used successfully, such as internal corporate reinvestment in research and development and external venture capital funds, but which the environmental industry has yet to adequately cultivate; (3) describes potential public financial vehicles that can be used by both the pharmaceutical and environmental industries to fund development and demonstration; and (4) offers an analysis and makes recommendations for government technology policy makers interested in learning about environmental protection through the successful commercialization practices of government/industry partnerships.
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