Intel CEO Paul Otellini is concerned that U.S. technological and economic competitiveness is eroding due to long-term neglect of support for education, research, and digital infrastructure. "As a country the issue is: Are we going to be prepared for the industries of the 21st century, which are fundamentally knowledge-based industries?" Otellini asks.
Otellini stresses that governments are in the optimal position to underwrite basic research, and the doubling of current government funding budgets will take a long time. Otellini says the research and development tax credit should be made a permanent institution and be reverted to levels that are internationally competitive.
Earlier this year, Otellini announced that Intel and a group of venture capital firms would furnish U.S.-based tech startups with $3.5 billion over the next 18 to 24 months. Otellini says that venture capitalists need to be encouraged to invest in startups, noting that "the narrowness of the focus [on clean tech and high tech] and the narrowness of the investment period was also important. We wanted to show [startup companies] that the venture capital industry was open for business."
From Technology Review
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