Is not only to congratulate both the material deficiency is shouting

The France devoted an exceptional public effort of 35 billion euros on new economic dynamism, higher education golden triangle, innovation and new technologies. Is not only to congratulate, both the material deficiency is shouting. But should take care to two formidable illusions accompanying this decision.

The first is the idea that this exceptional effort while both induced the burst of growth missing structurally to the France and the new model of development which is needed to overcome the issues, including environmental. Indeed, since the 1990s, the France took incredible retardation in the area of investment for the future, i.e. investment in knowledge (higher education, research, software) and new technologies such as information and communication (technologies ICT) technologies. In the United States and Sweden, the effort devoted to investment in knowledge is approximately 2 of GDP higher than the France, about 1 in ICT.

The France thus accumulates an annual deficit of 60 billion euros, to the best that elles innovative economies are deemed liberal or espouses. 35 Billion in investments, which should join an equivalent amount of investment from the private sector, will be that our annual deficit! It is the equivalent of a "grand loan" per year to be mobilized.

Already, we must think a strategy of investment for the decade 2010-2020. The programming of new investments for the future in the next decade butera on the exceptional degradation of public finances. The French challenge will require not only to redress public accounts, but also to identify means for future investments.

A second dangerous illusion rooted in the belief that it would be to invest for success. In recent years, innovation economists have highlighted the importance of the "institutions" in the innovation system formed by universities, research centres, businesses and stakeholders in the financing. More these institutions (or rules) promote cross-collaboration, more innovation emerges with force.

The France, disabled by institutions of another age, should strengthen the collaborative research between universities (and schools) and SMEs, spearheads of radical innovation to the image of the United States where legislation (Bayh-Dole Act of 1980) strongly encourages partnerships between the public and private. It is also a way to develop an entrepreneurial spirit that all shows that he can give birth to the future world leaders, with the key, many jobs.

Similarly, meetings between a researcher and a venture capitalist must multiply to create innovative start-up, always to the image of the United States and the Sweden, who spend 4 times more effort, reported to the GDP. Public capital should invest in technological boot, this phase risky demonstration of the validity of the new technological concept. Because experience teaches that many innovations, think for example of new biotechnology molecules, often result from selected public investments in partnership with the private players. Just as in the grand loan is expected to EUR 400 million for technological boot; the selection of the projects will be a key factor.

The disappointment will be the appointment of the next years if future investments related to the large borrowing are not coupled with a vigorous reform of the institutions of our innovation system. In these areas for the future, it is also further the effort that is sure to impose over the next decade.