Development of a model to estimate the economic impacts of R&D output of public research institutes

This paper proposes a modeling framework to estimate the economic impacts of R&D output of public research institutes. The framework models the process of R&D output generating the economic impacts. The authors collect case data of market‐creation economic impacts originating from R&D output of the National Institute of Advanced Industrial Science and Technology, Japan. On the basis of the case studies, the process of R&D output generating economic impacts is modeled in the following four stages: (1) R&D output, (2) technology transfer, (3) commercialization, and (4) market impacts. The model describes these stages using six parameters. This paper presents the model and case studies, and discusses the application of the model.