165 University Leaders Recommend Closing 'Innovation Deficit'

Presidents and chancellors from 165 United States universities have issued an open letter to President Obama and Congress, urging them to close the "innovation deficit."

The innovation deficit, according to the letter, is the widening gap between needed and actual investments in research and education. The letter, which was published in Politico, recommends investment in those areas and argues that doing so will lead to innovation and new technologies, which, in turn, will boost the economy, create jobs, reduce budget deficits, and help the country maintain its role as a global leader.

The letter argues that more than half of economic growth in the United States since World War II is the result of technological innovation, most of which resulted from federally funded scientific research conducted at U.S. universities. The letter also points out that over the past two decades, China, Singapore, and South Korea have increased investment in research and higher education at a rate two to four times higher than the U.S.

The university leaders issued the letter at a time when Congress is preparing to address critical budget decisions, such as annual funding bills, the debt limit, and measures to eliminate or modify sequestration cuts. According to the letter, increasing funding to research and education at a time of fiscal austerity would encourage long-term economic growth and fiscal stability.

"Because the innovation deficit undermines economic growth it harms our nation's overall fiscal health, worsening long-term budget deficits and debt," states the letter. "Investments in research and education are not inconsistent with long-term deficit reduction; they are vital to it."

"Failing to deal with the innovation deficit will pass to future generations the burdens of lost leadership in innovation, economic decline, and limited job opportunities," the letter adds.

About the Author

Leila Meyer is a technology writer based in British Columbia. She can be reached at [email protected].

Featured

  • illustration of a futuristic building labeled "AI & Innovation," featuring circuit board patterns and an AI brain motif, surrounded by geometric trees and a simplified sky

    Cal Poly Pomona Launches AI and Innovation Center

    In an effort to advance AI innovation, foster community engagement, and prepare students for careers in STEM fields and business, California State Polytechnic University, Pomona has teamed up with AI, cloud, and advisory services provider Avanade to launch a new Avanade AI & Innovation Center.

  •  black graduation cap with a glowing blue AI brain circuit symbol on top

    Report: AI Is a Must for Modern Learners

    A new report from VitalSource identifies a growing demand among learners for AI tools, declaring that "AI isn't just a nice-to-have; it's a must."

  • glowing shield hovers above a digital cloud platform with abstract data streams and cloud icons in the background

    Google to Acquire Cloud Security Firm Wiz

    Google has announced it will acquire cloud security startup Wiz. If completed, the acquisition — an all-cash deal valued at $32 billion — would mark the largest in Google's history.

  • digital dashboard featuring a shield icon, graphs, a world map, and network nodes

    IBM Introduces Agentic AI Governance and Security Platform

    IBM has launched a new software stack for enterprise IT teams tasked with managing the complex governance and security challenges posed by autonomous AI systems.