Book excerpt: Innovation is a widely applied yet poorly understood term in the context of public policies and practices among Western nations. Technological innovations specifically have and will continue to advance civilization, shape modern society, and drive the economic health and geo-political standing of nations. This book offers a unique interpretation of science, technology & innovation (STI) policies in Western nations, particularly in regard to government-sponsored programs. The author challenges established thinking, directly addressing numerous myths that cloud our understanding of innovation and proposes a fresh perspective grounded in fundamental logic and analysis. Written in short chapters and presented in an alphabetically organized framework, this book addresses what is working and what isn’t working in current STI policies and suggests that the most efficient and effective way to generate technological innovations that yield the desired socio-economic benefits, is for national governments to sponsor directed scientific research and directed engineering development, and align both with the requirements of carefully managed commercial production. The book also features examples drawn from government data, scholarly literature, practitioner anecdotes and the author’s personal experience.