Posted by nick_niesen in Science on October 27th Authentic Dwight Gooden Jersey , 2010


In the United States, Congress approved, In February 2003, increases in the 2003 budgets of both the National Institutes of Health and National Science Foundation. America is not alone in - vainly - trying to compensate for imploding capital markets and risk-averse financiers.


In 1999 Authentic David Wright Jersey , chancellor Gordon Brown inaugurated a $1.6 billion program of "upgrading British science" and commercializing its products. This was on top of $1 billion invested between 1998-2002. The budgets of the Medical Research Council and the Biotechnology and Biological Sciences Research Council were quadrupled overnight.


The University Challenge Fund was set to provide $100 million in seed money to cover costs related to the hiring of managerial skills, securing intellectual property, constructing a prototype or preparing a business plan. Another $30 million went to start-up funding of high-tech, high-risk companies in the UK.


According to the United Nations Development Programme (UNDP) Authentic Darryl Strawberry Jersey , the top 29 industrialized nations invest in R&D more than $600 billion a year. The bulk of this capital is provided by the private sector. In the United Kingdom, for instance, government funds are dwarfed by private financing, according to the British Venture Capital Association. More than $80 billion have been ploughed into 23 Authentic Curtis Granderson Jersey ,000 companies since 1983, about half of them in the hi-tech sector. Three million people are employed in these firms. Investments surged by 36 percent in 2001 to $18 billion.


But this British exuberance is a global exception.


Even the - white hot - life sciences field suffered an 11 percent drop in venture capital investments in 2002, reports the MoneyTree Survey. According to the Ernst & Young 2002 Alberta Technology Report released in March 2003, the Canadian hi-tech sector is languishing with less than $3 billion invested in 2002 in seed capital - this despite generous matching funds and tax credits proffered by many of the provinces as well as the federal government.


In Israel Authentic Asdrubal Cabrera Jersey , venture capital plunged to $600 million in 2002 - one fifth its level in 2000. Aware of this cataclysmic reversal in investor sentiment, the Israeli government set up 24 hi-tech incubators. But these are able merely to partly cater to the pecuniary needs of less than 20 percent of the projects submitted.


As governments pick up the monumental slack created by the withdrawal of private funding, they attempt to rationalize and economize.


The New Jersey Commission of Health Science Education and Training recently proposed to merge the state's three public research universities. Soaring federal and state budget deficits are likely to exert added pressure on the already strained relationship between academe and state - especially with regards to research priorities and the allocation of ever-scarcer resources.


This friction is inevitable because the interaction between technology and science is complex and ill-understood. Some technological advances spawn new scientific fields - the steel industry gave birth to metallurgy, computers to computer science and the transistor to solid state physics. The discoveries of science also lead Authentic Addison Reed Jersey , though usually circuitously, to technological breakthroughs - consider the examples of semiconductors and biotechnology