Innovation Asset Blog

Report: Bill Gates calls for government investment in innovation

At a recent meeting about climate change in Seattle, Washington, Microsoft founder Bill Gates claimed that the U.S. government needs to increase its investment in innovation, according to a New York Times report.

Gates told his audience that the government is not currently doing enough to support basic research and development which, he said, are essential for effectively tackling the climate change challenge.

According to Gates, several positive developments have taken place, including the creation of the Department of Energy's Advanced Research Projects Agency-Energy. Nevertheless, greater government investment could help produce much-needed innovation, he claimed.

The Times reported that Gates lamented the lack of bipartisan political support for research and development in the field of renewable energy. Nevertheless, he has invested privately, together with venture capitalists, in a number of renewable energy startups.

According to the Times, Gates described private investment in research and development for renewable energy as an "upstream" movement that "makes me optimistic, even though we seem to have political road jam at least temporarily in some of the issues like carbon pricing."

Peter Ackerman

Peter Ackerman

Founder & CEO, Innovation Asset Group, Inc.