Governance of Public Funding Research Technologies: Technology Welfare Governance Model

This paper analyzes rationality of the government funding in public research and its levels of public benefit. This is basically theoretical and vision paper for practical utility. In diffusing research output to the public there is a very thin line of difference between benefit and profit. Public funding institutions try their level best to release their technology to the public and private companies also fulfill the needs through commercialization, but the intentions of making much bigger profits damaging motive of public benefit, sometimes leading to failure in technology absorption or aversion. In this scenario public funded research institutes and government are facing much criticism. To minimize the discrepancy between, technology innovation and absorption this paper discusses about the combination of Innovation management in public research institutes and Technology welfare governance model in dispensing technology.