Venture Capital’s Increasing Role Despite Decreasing Federal R&D Funding
Venture Capital’s Increasing Role Despite Decreasing Federal R&D Funding “The principal focus of Science is the importance of basic research. Basic research leads to new knowledge. It provides scientific capital. It creates the fund from which the practical applications of knowledge must be drawn. . . . Today, it is truer than ever that basic research is the pacemaker of technological progress. … A nation which depends upon others for its new basic scientific knowledge will be slow in its industrial progress and weak in its competitive position in world trade, regardless of its mechanical skill.” (Dr. Vannevar Bush) “We’re hearing from scientist friends that funding is cut, and people might be losing visas. It’s a multidimensional problem. This isn’t political; it’s about ensuring innovation continues.” (Josh Wolfe, co-founder of Lux Capital) Context: A Legacy Forged in Crisis, Now at Risk In the 1940s, the emergence of nuclear weapons, the space race, and the intensificatio...
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