A Case for Government-Industry Partnerships

Government-industry partnerships are necessary for small businesses to successfully launch new and innovative ideas into the market place. Small businesses, the cornerstone for economic job creation, expansion and retention, is hampered with the need to fund new and innovative technologies from profits which generally occur in a cyclic manner. This cyclic funding leads to ramp ups and development during profitable years, and delays and abeyance during years of downturn. Government-industry partnerships directly addresses this problem by offering funding assistance in the form of resources eliminating the “peaks and valleys” of development. This paper will detail a case study of this type of assistance.