About $75 billion dollars is spent on academic research, and it makes way for little return on investment. A very small amount of university research products ever makes it to the public market. Colleges and universities only provide a small proportion of the nation’s patents. In 2016, academic institutions only produced 6,639 of the 304,126 patents according to the National Science Board. A possible reason for this is that faculty are awarded tenure and promotion based on measures such as how much research money they bring in and how many papers they publish, not their numbers of patents or start-ups or the licensing revenue they earn. Obtaining a patent is a long process that can take seven years. It is easier for universities to calculate merit over papers instead of patents. Read More >>
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The World’s Most Innovative Countries 2019
The Global Innovation Index (GII)’s global rankings are the first tool worldwide to measure innovation. It measures a country’s performance based on its higher education, R&D spending, infrastructures, online creativity and knowledge creation. Its theme this year is “Creating Healthy Lives – The Future of Medical Innovation”. Indeed, the world is continuing to face innovations in health and medicine, triggering better quality of life around the globe. But inequalities still grow fast as innovation in healthcare still faces ethical, economic and social challenges. But, innovators from underdeveloped countries are rising, proving that we can do more with less. Read More >>
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