The role of government in the entrepreneurial eco-system
The US government has long been funding research and a major initiative was launched by President Roosevelt in 1940; the National Defence Research Committee (NDRC). Vannevar Bush, Director of the Carnegie Institution had campaigned for its creation as he experienced the lack of cooperation between scientists and the military during World War I.
The NDRC was formed to support the war effort through the coordination and development of technologies. One of the better known results of NDRC efforts was the famous Manhattan Project [development of nuclear weapons]. NDRC was superseded by the Office of Scientific Research and Development.
With the end of the war and the realisation that the US needed a more broadbased approach to the pursuit of scientific knowledge, the National Science Foundation (NSF) was created in 1950. The NSF, along with universities and other research institutions developed the framework that intellectual property laws today are based upon. The NSF led the multi-agency Digital Library Initiative (DLI) that in 1994 funded a project at Stanford University.
Larry Page, a graduate student working on DLI and Sergey Brin, a NSF Graduate Student jointly developed the technology for linking and ranking web pages (PageRank). Eventually this was worked into a search engine they called Backrub, now known as Google. The Google.com domain was registered in September 1997 and actually received a cheque for US$100,000 from an investor in the name of “Google Inc.” a year later, but even before the company was incorporated.
This story is from the July 2016 edition of Business Today Malaysia.
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This story is from the July 2016 edition of Business Today Malaysia.
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