President Obama announced increased public sector funding of research that will drive innovation.
Entrepreneurs, start your engines.
The president spoke on Sept. 21 at the Hudson Valley Community College in New York about the adminstration’s efforts to boost innovation and sustainable growth in our country through higher greater accessibility to higher education and funding for the basic research.
From the Washington Post:
President Obama called Monday for “a new generation of innovation” as he outlined a strategy to build on more than $100 billion in economic stimulus funding to promote progress in such areas as clean energy, health care and basic research.
First step outlined by the president: strengthen education.
Through the adminstration’s American Graduation Initiative, they intend to reform and strengthen community colleges, because “a new generation of innovations depends on a new generation of innovators.”
Next: Increased Funding for Innovative Research
From the President’s remarks:
A former senator from New York, Robert Kennedy, once told us, “The future is not a gift. It is an achievement.” It was not an accident, not a gift, that America led the 20th century. It was the result of hard work and discipline and sacrifice, and ambition that served a common purpose. So it must be in the 21st century. Future success is no guarantee. As Americans we always have to remember that our leadership is not an inheritance; it is a responsibility.
The President announced a new committment to increased funding:
When we fail to invest in research, we fail to invest in the future. Yet, since the peak of the space race in the 1960s, our national commitment to research and development has steadily fallen as a share of our national income. That’s why I set a goal of putting a full 3 percent of our Gross Domestic Product, our national income, into research and development, surpassing the commitment we made when President Kennedy challenged this nation to send a man to the moon.
Washinton Post: Obama Pitches Innovation in Upstate New York
Full Speech Text: Remarks by the President on Innovation and Sustainable Growth