Turn research into inventions and jobs

To combat the ever increasing upward trend of unemployed, should we now, instead of hoping against hope for yet another call centre to our depressed areas, or an imported IT opportunity (to be tried out here before seeing it moving on to a cheaper location) start looking in a different direction?

To create jobs and spur innovation it should be possible to allow for more scientists - in the lab - to build businesses for marketing their current breakthroughs.

Innovation is the life force of any economy not only for the creation new jobs but maintaining on-going profits. Fail to invent and you fail to stimulate that economy or improve living standards.

According to a recent U.S. “Businessweek” article on translating science into invention, "the vast majority of great research is languishing in filing cabinets, unable to be harnessed by the entrepreneurs and business people who can set it free.“ The article also called for the investment of billions of dollars more in "basic research" to create millions of new jobs.

A novel solution to this problem comes from the Dean of Duke University's Engineering School, Tom Katsouleas, who suggests a programme called PhD Plus. This would teach scientists and inventors the additional and necessary entrepreneurial skills.

Who could disagree with that? How often do we come across people with the most incredible inventive minds but seemingly useless when it comes the practical matter of raising money?

It's hard to argue against the importance of scientific research but too often in discussions over R&D spending, one fundamental fact is ignored - we already have an abundance of research. The next transistor, semiconductor, or breakthrough in MRI technology may already have been discovered and we have somehow now lost our way in translating this science into invention.

Sadly, to keep in the race with the perceived next best thing, vast quantities, representing years of great research is left - often forgotten - in some obscure basement filing cabinet. The bulk of this valuable asset, if harnessed by the entrepreneurs and job-creators could set it free to bring actual new goods and services to the market.