McPherson pointed out that while brands were "underwriting innovation" when it comes to online content, there was "still risk aversion in the ad buying community".
Other smaller foundations in the Pittsburgh area, like the Hillman Foundation, have said they, too, are withholding support for the school system, and since private money often underwrites innovations and experiments, the loss is more significant than its dollar value.
That cash is not being used to expand operations, train new workers, underwrite new ventures, or spark innovation".
"You want new products, you want innovation, and you don't want to stifle it — as long as you realize there has to be a solid foundation to underwrite the loan," he says.
Meanwhile those who underwrite the arts, like the Knight Foundation, are awarding grants for innovation through crowd-sourcing contests like its Arts Challenge.
What is needed instead is an innovation bank that can do three things: Develop insurance schemes that underwrite the value of the intangible assets of growing companies so that bankers know they are lending against an asset with a calculable worth.
The anti-tax agenda has substantially diminished the ability of states to underwrite the cost of higher education.One of America's most important innovations was the creation of great public universities.
In the process, Harvey Seifter, head of the project and founder of the Art of Science Learning firm, explored a framework for sparking creativity and innovation in our schools, our workplaces and in our nation; and proposals that the NSF might find attractive to underwrite.
Elsewhere, governments underwrite mortgage insurance.
The Higher Ambitions report from the Department for Business, Innovation and Skills states: "Britain must rebuild its economic growth and invest in the skills and competitive strengths that will underwrite a sustainable recovery and balanced future economy".
