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Nor should it matter who funds innovation, private or corporate venture capitalists.
But those institutions are better at helping people find new ideas than at turning them into new businesses (see the exhibit "Who Else Funds Innovation?").
There are already multiple federal funding streams, including School Improvement Grants, Race to the Top funds, innovation funds and Title I that are providing access to hundreds of millions of dollars to experiment with a longer school day.
'GE funds innovation!' But for us it's very actionable".
This will be led by the Mind the Bridge Foundation, a non-profit corporation which runs an accelerator programme and Nesta, a UK charity which funds innovation.
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In the private-investment model, innovators privately fund innovation and then use intellectual property protection mechanisms to appropriate returns from these investments.
While research is widely funded, only just over a third of respondents fund innovation.
And the idea of using his enormous wealth to fund innovation is surely honorable.
On July 14th it announced a $24m initiative to fund "Innovation Delivery Teams" to help mayors solve particular local problems.
We need to help the nascent advertising market by funding innovation, and minimising risks.
We live in the naive hope that by making banks richer they will wake up and want to fund innovation.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com