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• So in 1986, the American government created SEMATECH, a consortium of government agencies, research institutions and private industry. By the mid 1990’s, the US was once again dominating semiconductors. Today, SEMATECH is a wholly private enterprise, funded by its members, but its original model is being widely deployed by other consortia to solve...
• As many people know, Alexander Fleming originally discovered the miracle cure in 1928, when his bacteria culture was contaminated by a mold. What most people don’t realize is that his findings sat in an obscure medical journal for a full decade before anyone noticed them. In fact, penicillin wasn’t deployed until 1943, when the US military used it...
• This gap between initial discovery and commercialization is known as the “Valley of Death,” because while research institutions have a clear mandate for basic research and private enterprises are highly adept and bringing new products to market, many pathbreaking new technologies languish in the stage in between, when there is promise but no proof.
• The US government now invests nearly $150 billion in R&D, about half of that in fundamental, discovery driven research focused on exploring new horizons. The private sector spends three times that, mostly on translational research intended to transform basic discoveries into new products.
• There is a wide chasm that separates an initial discovery and a viable product idea

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