Small highly innovative firms have a big impact on many high tech industries, according to a report issued Tuesday by the Office of Advocacy. The report shows that large firms in the biotechnology, medical electronics, semiconductor, and telecommunications industries are
Small highly innovative firms have a big impact on many high tech industries, according to a report issued Tuesday by the Office of Advocacy.
The report shows that large firms in the biotechnology, medical electronics, semiconductor, and telecommunications industries are citing patents by small firms in higher than expected numbers.
“Small firms are contributing to technological innovation at an incredible rate,” said Thomas M. Sullivan, Chief Counsel for Advocacy.
“Small firms are a vital element of new technology in many industries. This is particularly true in high tech areas that rely on young, innovative firms. As our report points out, small firms are making important contributions to America’s world wide technological leadership.”
Sullivan made the remarks at Calence, Inc. in Tempe, Arizona while addressing members of the Arizona Technology Council.
Calence builds, manages, and optimizes customized, client-centric networks that meet an organization’s specific business goals and requirements. The Arizona Technology Council represents over 30,000 employees across more than 400 of Arizona’s leading technology companies.
The report, Small Firms and Technology: Acquisitions, Inventor Movement, and Technology Transfer written by CHI Research, also examines small firms contribution to the innovation process through acquisition by larger firms and the hiring of elite inventors.
The report found that small firm contributions to technological innovations are best measured industry by industry. Their importance is not immediately apparent when all industries are considered, because small firms tend to be excluded from such key capital-intensive industries as automotive, aerospace, and oil research.
The Office of Advocacy, the “small business watchdog” of the government, examines the role and status of small business in the economy and independently represents the views of small business.
to federal agencies, Congress, and the President.
It is the source for small business statistics presented in user-friendly formats and it funds research into small business issues.
For more information and a full copy of the report, visit the Office of Advocacy web site at http://www.sba.gov/advo.
