David Teece writes about a new model of “guided academic entrepreneurship” and the confluence of fundamental research and commercial development at universities.
“As much as we celebrate new technology and treat successful entrepreneurs like rock stars, there is still a tension at many universities between the mission of fundamental research and the quest to commercialize new breakthroughs.
“These competing goals have tied universities in knots for decades. Will “pure” science–knowledge for the sake of knowledge–be cheapened by commercial priorities? How can professors even teach properly if they are preoccupied with starting companies and getting rich?”