From 1996 to 2010, technology transfer resulted in $836 billion in gross industry output, increased GDP by $388 billion, and added three million jobs.

A study conducted by the Biotechnology Industry Organization (BIO) of non-profit research institutes and universities found that from 1996 to 2010, technology transfer resulted in $836 billion in gross industry output, increased GDP by $388 billion, and added three million jobs. A key component of innovation is the transfer of basic research into concrete technological applications and commercializable products. Unfortunately, the United States has not done enough to promote technology transfer and domestic manufacturing, leading to the mass production of many American innovations, from solar cells to semiconductors, in overseas facilities. Given the tremendous economic impact of tech transfer, policies must be developed to strengthen the entire U.S. innovation ecosystem, from idea generation to product manufacture. 

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