Where Science Meets Muse

Funding Innovation – A Plan That People Will Support

Posted by Plish on February 24, 2009

(Michael Plishka 2009)

copyright 2009

I don’t remember who it was that turned me on to this Facebook group.  Whoever it was, “Thank You!”

The plan is simple: Provide millions of dollars to fund start-ups through venture capitalists (or other efficient mechanisms) instead of trying to bailout the BIG Failures (GM, etc.).  If even a small percentage of these start-ups hits, that’s some major job creation. 

No hocus pocus, no waste…Just innovation at work.

Thomas L Friedman over at the New York Times wrote this  op-ed piece that consolidates and solidifies the plan. Says Friedman:

If we are going to be spending billions of taxpayer dollars, it can’t only be on office-decorating bankers, over-leveraged home speculators and auto executives who year after year spent more energy resisting changes and lobbying Washington than leading change and beating Toyota.

I personally am in touch with multiple start-ups in the High-Tech and Medical markets that are screaming for funding.  A million spent on each of these would do more than a billion in the pockets of GM.

What are your thoughts on this innovative plan and use of tax payer money?


2 Responses to “Funding Innovation – A Plan That People Will Support”

  1. Roger said

    Sadly, the start ups do not have the money to grease the wheels of politics. We are seeing the fastest return on campaign contributions in the history of the world.

    Small business is the only place where real job creation is possible yet the last place much of the “stimulus” package money will go. As a small business owner, I would love access to even a small percentage of the money GM will waste before their eventual downfall. The big three began their death spiral many years ago when they lost touch with quality. Within a short time they will be filing bankruptcy regardless of how much they are given.

    Large companies are incapable of innovation due to the layers of bureaucracy that stifle new ideas. Small nimble companies can react quickly to changing needs, creating the jobs we need now. Supporting the idea of funding for the little guy is very noble but our leaders are indebted to the big money and will make sure the corporate jets keep flying.

    In the end, it will be the perseverance of entrepreneurs who despite having the odds stacked against them will move forward with their ideas and save the economy if it is not already too late.

    Great post and a great idea.

  2. Plish said

    Great observations, Roger–all too true. Thanks for the kind words!

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