With all the attention on renewable-energy technology, and for all the hopes that politicians have expressed that by pushing dollars into the innovation system they can magically get “cluster” jobs out the other side, I thought I would tell the cautionary story of three extremely impressive energy-tech-type companies that my colleagues1 and I assisted when we worked for the (lately defunct) New Jersey Commission on Science and Technology (NJCST) back in the late 1980s/early 1990s.2
As free-marketeers like to say, politicians don’t create jobs: entrepreneurs and investors do. Absolutely correct. All we did in government was help by providing resources that the entrepreneurs leveraged and exploited at a very early stage of corporate existence. Except in one case where we provided a modest amount of pre-seed financing, I wouldn’t say we even tried to “pick winners.” We applied public funding to create physical environments and incentives for academic/industrial collaboration, we provided a little free publicity and moral support, and then we sat back and watched the inventors and innovators/entrepreneurs do their thing.
To read the full, original article click on this link: A (long) tale of three energy-tech companies | tbed
