Government Funding + University Research = Innovation, Companies, Jobs

Colleagues,

For those interested in Triple Helix translation of technology from "Lab to Market", the following report, "SPARKING ECONOMIC GROWTH - How federally funded university research creates innovation, new companies and jobs", is a must read ...

... The Science Coalition is the nonprofit, nonpartisan organization that produced the report, and is composed of more than 40 of the nation’s leading public and private research universities...

... This report illustrates how federal investment in basic research led to the launch of the 100 successful companies selected for this study, and consequently spawned innovation, new companies, and jobs...

Key Points:

The federal government is the primary source of funding for basic research conducted in the United States, providing some 60% of funding. The second largest source of basic research funding is the academic institutions themselves.

Universities conduct the majority of basic research in the United States— 55% in 2008. Business and industry conduct less than 20% of basic research in the United States.

Innovations that flow from university-based basic research are at the root of countless companies. Companies spun out of research universities have a far greater success rate than other companies, creating good jobs and spurring economic activity.

The US continues to lead in global research and development expenditures from all sources. However, China and other nations are investing aggressively in R&D in order to enhance their innovation capabilities.

The report outlines: