quote: interesting article on basic research and fed funding
But with basic research you aren't necessarily thinking about risk
In the private sector risk is important
Publicly funded research...not so much
The federal government is the primary source of funding for basic research
conducted in the United States, providing some 60 percent of funding.
The second largest source of basic research funding is the academic institutions
¦ Universities conduct the majority of basic research in the United States —
55 percent in 2008. Business and industry conduct less than 20 percent of
basic research in the United States.
¦ Basic research is conducted for the sake of knowledge and is essential to
scientific discovery and understanding. Basic research is the first step in the
¦ 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
¦ 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.
¦ It is essential to America’s global competitiveness and long-term economic
health that the United States invest significantly and consistently in basic
research year after year.
I am assuming this information is accurate. I don't take any of those points to prove why a private university might not be interested in basic research. Currently 10% is privately funded. (probably need to further fact check that)
The exciting part of it seems to be that fundamental research could be a Pandora's box. High risk, high reward.