Chapter

Elusive Industrial Angels

in Science for Sale

Published by University of Chicago Press

Published in print October 2007 | ISBN: 9780226306254
Published online March 2013 | e-ISBN: 9780226306261 | DOI: http://dx.doi.org/10.7208/chicago/9780226306261.003.0003
Elusive Industrial Angels

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This chapter examines the contribution of industry in the funding of universities in the U.S. It suggests that contrary to popular belief industry is a very minor participant in the financing of academic research. It explains that most of the money for higher education comes from federal agencies, endowment income, philanthropic foundations, tuition, private gifts, and state appropriations. The statistics for 2005 shows that universities spent $45.8 billion on research and development and only $2.3 billion of that amount came from industry.

Keywords: university finance; industry; U.S.; academic research; higher education; federal agencies; endowment income; philanthropic foundations; private gifts; state appropriations

Chapter.  4759 words. 

Subjects: Ethical Issues and Debates

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