Just how difficult can it be counting up R&D funding for emerging technologies (and is tech mining with proxy measures going to be any better)?

Abstract

Decision makers considering policy or strategy related to the development of emerging technologies expect high quality data on the support for different technological options in order to track trends and allocate resources. A natural starting point would be R&D funding statistics. This paper explores the limitations of such aggregated data in relation to the substance and quantification of funding for emerging technologies. Using biotechnology as an illustrative case, we test the utility of a novel taxonomy to demonstrate the endemic weaknesses in the availability and quality of data from public and private sources. Using the same taxonomy, we consider the extent to which tech-mining presents an alternative, or potentially complementary, way to determine support for emerging technologies using proxy measures such as patents and scientific publications. We find that using proxy measures provides additional visibility of technological emergence and suggest these are a useful complement to financial data. © 2013 Copyright Taylor and Francis Group, LLC.