Supporting excellence in science

By Jonathan Thon. In the United States most universities and hospitals are private businesses, and are run as such, maximizing profit margins and generally promoting low-risk ventures with greatest return on investment. Basic research by comparison is high-risk and generally takes 10 to 20 years to show a financial return on investment (if there is a financial return at all). Not surprisingly, basic research projects are thus often left to the federal government to fund – and why not? The Bayh-Dole Act of 1980 permits universities and hospitals to pursue ownership of any invention made using federal funding in preference to the government doing the same. More...