University Research and Development
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There is an imbalance between the research money input into basic research and the innovation output. This is visible evidence of the innovation logjam. Research faculty and students generate thousands of new patents and intellectual property every year. Of these, only a handful leave the research context. Of these, even fewer are successfully developed into innovative new products for commercialization. Our inventors, researchers, entrepreneurs and capitalists make great achievements, but we are at risk of falling behind. A country or a university may believe they are ahead, but the factors that create the innovation logjam threaten that lead. In this chapter. we look at the humongous challenge in front of us to unlock the full potential of the innovations our governments pay to create.