America’s innovation engine is running out of gas. Corporations in the US have been slashing internal long-term research and development spending for decades and, most recently, investments in venture capital-backed start-ups.

Confronting an increasingly competitive global economy and the emergence of well financed centers of innovation outside of long dominant Silicon Valley, the case for a major reversal could not be stronger, nor could the consequences for failure be higher.

The time has come for today’s equivalent of…

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