US Research Funding and Venture Capital - a Bibliography
Some of the academic and institutional research that went into the Inc article "Why Some of the Most Important Money in Tech Might Be About to Disappear." If you have trouble surmounting a paywall on any of this, ping me and I'll see what I can do.
Arora, Ashish, et al. The Rise of Absorptive Research in Corporate America: 1945-1980. Working paper no. 33713, National Bureau of Economic Research, Apr. 2025, http://www.nber.org/papers/w33713.
Bush, Vannevar. Science: The Endless Frontier. Office of Scientific Research and Development, 5 July 1945, https://nsf-gov-resources.nsf.gov/2023-04/EndlessFrontier75th_w.pdf.
Carugo, Alessandro, and Giulio F. Draetta. “Academic Discovery of Anticancer Drugs: Historic and Future Perspectives.” Annual Review of Cancer Biology, vol. 3, no. 1, Mar. 2019, pp. 385–408, https://doi.org/10.1146/annurev-cancerbio-030518-055645.
Fieldhouse, Andrew J., and Karel Mertens. The Returns to Government R&D: Evidence from U.S. Appropriations Shocks. Federal Reserve Bank of Dallas, Nov. 2024, https://www.dallasfed.org/research/papers/2023/wp2305.
Gonzalez, Ignacio, et al. Preliminary Estimates of the Macroeconomic Costs of Cutting Federal Funding for Scientific Research. Institute for Macroeconomic & Policy Analysis, American University, Apr. 2025, https://aura.american.edu/articles/report/Preliminary_Estimates_of_the_Macroeconomic_Costs_of_Cutting_Federal_Funding_for_Scientific_Research/28746446?file=53480237.
Herd, Pamela, and Don Moynihan. “Are Universities Too Dependent on Federal Support.” Can We Still Govern?, 23 Apr. 2025, https://donmoynihan.substack.com/p/are-universities-too-dependent-on.
Jalali, Mohammad S., and Zeynep Hasgul. “Potential Trade-Offs of Proposed Cuts to the US National Institutes of Health.” JAMA Health Forum, vol. 6, no. 7, July 2025, p. e252228, https://doi.org/10.1001/jamahealthforum.2025.2228.
Kaelin, William G. “Killing the Science Golden Goose.” The American Journal of Medicine, vol. 138, no. 9, Sept. 2025, pp. 1181–82, https://doi.org/10.1016/j.amjmed.2025.04.003.
Lerner, Josh, and Ramana Nanda. “Venture Capital’s Role in Financing Innovation: What We Know and How Much We Still Need to Learn.” Journal of Economic Perspectives, vol. 34, no. 3, Aug. 2020, pp. 237–61, https://doi.org/10.1257/jep.34.3.237.
Liu, Michael, et al. “Characterization of Research Grant Terminations at the National Institutes of Health.” JAMA, vol. 334, no. 6, Aug. 2025, p. 534, https://doi.org/10.1001/jama.2025.7707.
Lonsdale, Joe. “Make the FDA Great Again!” Joelonsdale.com, 19 May 2025, https://blog.joelonsdale.com/p/fix-the-nih-to-fix-american-science.
Nayak, Rahul K, et al. “Public Sector Financial Support for Late Stage Discovery of New Drugs in the United States: Cohort Study.” BMJ, Oct. 2019, p. l5766. https://doi.org/10.1136/bmj.l5766.
Nicholas, Tom. “The Origins of High-Tech Venture Investing in America.” Financial Market History: Reflections on the Past for Investors Today, edited by David Chambers and Elroy Dimson, CFA Institute Research Foundation, 2016, pp. 227–41.
Pece, Christopher V., and Gary W. Anderson. Analysis of Federal Funding for Research and Development in 2022: Basic Research. NSF 24-332, National Center for Science and Engineering Statistics, Aug. 2024. Zotero,https://ncses.nsf.gov/pubs/nsf24332.
Reddi, Vijay Janapa. “The Academic Pipeline Stall Why Industry Must Stand for Academia.” Computer Architecture Today, 6 May 2025, https://www.sigarch.org/the-academic-pipeline-stall-why-industry-must-stand-for-academia/.
Spector, Jonathan M., et al. “Fundamental Science Behind Today’s Important Medicines.” Science Translational Medicine, vol. 10, no. 438, Apr. 2018, p. eaaq1787, https://doi.org/10.1126/scitranslmed.aaq1787.
Trump’s War on Science. US Senate Health, Education, Labor, and Pensions Committee Minority, 13 May 2025. https://www.sanders.senate.gov/wp-content/uploads/HELP-Committee-Minority-Report-Trumps-War-on-Science.pdf.
Zang, Dongyu, and Chunli Liu. “Exploring the Clinical Translation Intensity of Papers Published by the World’s Top Scientists in Basic Medicine.” Scientometrics, vol. 128, no. 4, Apr. 2023, pp. 2371–416, https://doi.org/10.1007/s11192-023-04634-4.