On average, how long does it take a (US) venture backed company to exit? Some interesting analysis.. http://t.co/Ks94Ig0oEg— chris horn (@chrisjhorn) November 9, 2013
IONA Technologies was an Irish software company. It was founded in 1991.
The company specialized in distributed service-oriented architecture (SOA) infrastructure.
Some thoughts on Martin Wolf and Prof. Mariana Mazzucato assertions on state funding of R&D, and on the Times Higher Education Innovation Index – my article was published in the Irish Times on 19th August last….
On August 7th last, this paper reprinted with permission from The Financial Times Limited, an article by Martin Wolf entitled “Much-aligned state takes the boldest risks in innovation”. His piece reviewed the book ‘The Entrepreneurial State: Debunking Public vs Private Sector Myths’ (on Amazon), by Mariana Mazzucato, a Sussex university professor of economics who specialises in science and technology. His essay noted that governments (eg in the USA and the UK) have funded, through their science agencies, major research breakthroughs using taxpayer funds, including the discovery of monoclonal antibodies by the UK Medical Research Council; the US National Science Foundation’s funding of what became the Google search engine; and all the technologies which make Apple’s smart phone ‘smart’ – the internet, wireless technologies, GPS, microelectronics, touch-screen displays, and even the SIRI personal assistant.
There is credence in Wolf’s review. However – and I have not read Mazzucato’s thesis – the elephant in the room so deftly ignored by Wolf is the public funding of science for national security. Most, if not all, of the component technologies listed above by Wolf which make Apple’s smart phone ‘smart’, in fact have their primary application directly in the defense of the United States. Private sector exploitation of publicly funded science is frequently a useful consequence – ‘useful’ in that governments seek to procure packaged products for national defense rather than just raw technology, and the engineering of scientific research results into operational products is most economically driven by competitive industry.
Concurrently with Wolf’s effusive review of Mazzucato’s book, the Times Higher Education (THE) published their World Academic Summit Innovation Index (link to index). Based on their 2012-13 World University Rankings of 400 universities in thirty countries, THE divided the research income from industry for each university, by the number of employed researchers. They thus derived the industry sponsorship per researcher. South Korea’s six universities (in the global top 400) show an average of €74,000 income per researcher....