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Research shows science increasingly contributes to innovation | Science|Business

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October 23-25, 2024 / Atlanta, GA

The annual summit for research institution gap fund and accelerator programs, including proof of concept programs, startup accelerators, and university venture funds

The Story

Basic scientific research is increasingly driving innovation, according to new analysis from the University of Basel’s Centre for International Economics and Business.

The Swiss researchers crunched the numbers for patents granted by the US Patent and Trademark Office over the last 40 years, finding that approximately 30% of those granted in the last decade cited at least one scientific paper, compared to around 7% in the early 1980s. This points to a higher degree of knowledge transfer, they say.

The research was motivated by ongoing debates about the value of public funding of science in Switzerland, said Christian Rutzer, deputy head of the University of Basel. In March, the federal government reduced the budget for education, research and innovation by CHF500 million (€516 million) for 2025-28. Many other countries, including France and the Netherlands, are also facing cuts to public funding.

“Okay, you can freeride on the global public good of science. But we show it’s not about the science domain alone, it spills over into innovation. You need a great science space to get a great innovation space,” Rutzer told Science|Business. But too often, politicians see research only as a cost, he said.

Full story: Research shows science increasingly contributes to innovation | Science|Business

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