We have come to glorify overnight venture success stories.
In Edward Jung’s article Funding Innovation for the Long Haul, he argues that society’s core innovations were the result of sustained government support, as opposed to lone visionaries with a grand idea.
He considers long term Government investments to be the most effective mechanism for generating the kind of deep innovation that changes our lives. He goes on to say that “only sustained, state-sponsored research initiatives can establish the incentive structure for driving broad and deep technological change.”
In order to keep the USA competitive in the global economy, a bill was introduced by Senator Dick Durbin and Representative Bill Foster of Illinois that would fund basic research for $100 billion over the next decade. Mr. Jung urges that more elected officials should follow suit and recognize the vital importance of sustained government funding for solving complex problems and changing the world.
Edward Jung is Founder and CTO of Intellectual Ventures. Read the full post published in Intellectual Venture’s Insights Blog
To read more about Deep Innovation, see Coller Institute of Venture’s latest publication Coller Venture Review Issue 3 – Deep Innovation. The issue includes article such as:
- Deep Innovation and Brain Ventures,
Dr. Dana Bar-On, Head of Industry-academia Cooperation at the Sagol School of Neuroscience at Tel Aviv University.
- Deep Innovation in Food Ventures,
Niccolo Manzoni, Office of the Chairman at Coller Capital.
To read more about Venture Policy see Coller Venture Review Issue 1 – Policy. The issue includes article such as:
- The Venture Ecosystem Framework: Messy, Fast, and Global
Prof. Yesha Sivan, Executive Director of the Coller Institute of Venture at Tel Aviv University Faculty of Management
- The Public Venture Policy Menu
Dr. Robyn Klingler-Vidra, King’s College London