Tuesday, April 9, 2013

Why Government Funding Is Important To Innovation

It is important to understand the challenges to funding large innovation projects. With my research of innovation it has become apparent that funding innovation is as important to success as the actual scientific and entrepreneurial exploration procedures. With some private and corporate funding the findings become the property of the fundraisers. It is either about profit or credit. If the money drops off, the progress of the innovation can be locked up, not to be shared. Right now we see some very impressive brain studies and brain function research. The problem is that a lot of the findings are not shared, which leads to a duplication of efforts to find answers to similar questions. Parts of the puzzle, not found or missing by others slow the assembly of the complete puzzle. Recently some larger efforts are being funded by trusts that where created by groups of scientists that are aware of the funding hurdles to innovative creations. Even these can be challenging. Deals have to be made ahead of time to confirm the intellectual property rights.

In April 2013, President Barrack Obama decreed he would pursue government funding of the mapping the functions of the human brain. This will be as massive an effort as was the human genome project. This effort like the study of outer space itself demands the direction and funding of a large government to make it even possible. The findings will be a tremendous asset to life on this planet and for the greater good of the USA. Not only will it be good for the economy but healthcare, technology, communication and human advancement. 

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I'm always excited to hear and see your ideas. Together we will build a better world.