How Schools Help Create New Technologies

Schools, like universities and colleges, play a big part in making new technologies. Here are some important ways they contribute:

1. Research and Development (R&D)

   • In 2020, schools in the U.S. spent about $76 billion on research and development. This money helps them explore new ideas and technologies.
   • These schools provide about half of the basic research funding in the U.S. This has led to new discoveries in areas like biotechnology, renewable energy, and artificial intelligence.

2. Collaborations and Partnerships

   • About 70% of research done at schools now happens with help from companies. This teamwork helps share knowledge and technology.
   • A great example of this is the partnership between IBM and MIT, where they focus on artificial intelligence and quantum computing.

3. Incubators and Accelerators

   • Around 30% of technology startups begin in school incubators. These are spaces where new businesses are born and grow.
   • Programs like these have good results; about 60% of students from these programs find funding for their startups within two years.

4. Workforce Development

   • Schools are helping solve the skills gap by offering programs that fit industry needs. In 2021, 40% of new graduates went into STEM fields, which are important for technology growth.
   • About 90% of universities are changing their courses to keep up with new technologies, making sure students learn what’s needed for jobs.

5. Publication and Sharing Knowledge

   • Universities produce more than 2.5 million research papers each year. This work shares knowledge and influences technology development.
   • The innovations from these papers help both schools and companies improve and grow.

By doing all this, schools play an important role in developing new technologies. Their work helps create changes that affect everyone in society.