We found there were 28,000 inventions the government had stockpiled in Washington. Billions of dollars, critical research, people dying, and things are not being commercialized because we’d broken the link between the public and private sector. Not a single new drug had ever been commercialized from National Institutes of Health research, when they took the invention away. I found, actually the situation was even worse than we thought. Although, a lot of people today, apparently don’t know anything about basic economics, because a lot of people want to return us to those days. They’re simply not going to do that if in fact, you can’t protect the investment. So someone, an industry’s got to take a huge amount of risk and a lot of time, to turn a laboratory idea into a useful product. Which sounds like a great idea, but the problem is, the government’s not funding products. We realized that the problem was, that back to World War II, the government had a policy that if it funded even a small percentage of the research, if you made an invention, the invention was taken away from you and then put in the public domain, for free. I mean, how can we afford to have the taxpayer funding billions and billions of dollars of research and nothing’s coming out the other end? We started looking into it. Virtually nothing was being commercialized.īayh and Dole looked at that and said, this is crazy. They didn’t agree about very much, but we started looking into this issue, when we found out to our amazement, that the US government at that time, was funding about 50% of all the R&D in the country. Senator Dole was conservative Republican. Japan and Germany were taking away markets we used to dominate. And even worse, the US was losing its position internationally and in new technologies. Going into the election of 1980, which is a long, long time ago now, it was very much like the current environment. To answer your question, I was on the staff with Senator Bayh. I think that’s one thing that we certainly need in this current environment. It’s great to have opinions about things, but you all are fact based. You guys do a fantastic job, and you really document what you’re talking about. ITIF is one of my favorite organizations. First of all, thank you very much for having me on. Can you explain why senators Bayh and Bob Dole, a Democrat and a Republican introduced and helped pass the act? Why is it so important and what has it accomplished? Jackie Whisman: In 2002, The Economist called the Bayh-Dole Act, perhaps the most inspired piece of legislation to be introduced in America over the past quarter century. Joe Allen: It was actually both of us left, it went under the ground, but that’s another story. Rob Atkinson: No, no, we didn’t drive it into the ground. By the way, an administration that is now defunct, unfortunately and should be restored. I had the pleasure of working with Joe and learning a lot from Joe, when I was at the technology administration in the Department of Commerce. Rob Atkinson: The most important part is that Joe was my first boss out of graduate school. He has more than 25 years of experience in technology management and founded Allen & Associates, to guide clients in that area, in 2007. More than anything, this single policy measure helped to reverse America’s precipitous slide into industrial irrelevance. The legislation was hailed by The Economist Technology Quarterly, as possibly the most inspired piece of legislation to be enacted in America over the past half century. He played a key part in the successful passage of the landmark Bayh-Dole Act of 1980 and its subsequent amendments.
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He served as a professional staffer on the US Senate Judiciary Committee, to former Senator Birch Bayh. Today, we’re going to talk about life sciences innovation and in particular, how a piece of legislation called the Bayh-Dole Act has been vitally important to life sciences innovation in the US and frankly, technological innovation and tech transfer overall. Rob Atkinson: This podcast is about the kinds of issues we cover at ITIF, from the broad economics of innovation to specific policy and regulatory questions about new technologies. I head development at ITIF, which I’m proud to say is the world’s top ranked think tank for science and technology policy. I’m Rob Atkinson, founder, and president of the Information Technology and Innovation Foundation. Rob Atkinson: Welcome to Innovation Files. Stephen Ezell, “ How Japan Squandered Its Biopharmaceutical Competitiveness: A Cautionary Tale” (ITIF, July 2022).
Leadership in Life-Sciences Innovation” (ITIF Event, March 2019). “ Preserving Bayh-Dole-the “Inspired” Law That Underpins U.S.Life-Sciences Innovation System”(ITIF, March 2019). Stephen Ezell, “ The Bayh-Dole Act’s Vital Importance to the U.S.