Of course, information technology is at the center of the new economy. Many years ago, U of M, Michigan State and Wayne established the non-profit organization, Merit Network. Merit has also been a leader in many other internet developments and has now spun off two for-profit corporations. As we consider how to commercialize research, it is worth pondering what future challenges we will have to meet. Universities in the U.S. expanded their research role after World War II with the great increase in federal support.
Basic research is seen as the pacemaker of technological progress.
Research universities are seen as principal incubators for new discoveries. In the last decade or so industry has greatly reduced the amount of basic research it is doing. The demise of Bell Laboratories as it once was is an example. In my view, it is even more important now that universities play an important role in basic research. Michigan State's nuclear physics program, for instance, is second only to MIT in the country.