E. Mansfield, “Contributions of New technology to the Economy”
“Universities are not likely to play a central or direct role in the development of new products or processes. Most new products or processes that could have been developed in the absence of academic research were not invented at colleges or universities; instead, academic research provided new theoretical and empirical findings and new types of instrumentationthat were required for the development of the new product or process, but not the specific invention itself”
“Successful product and process development demands intimate knowledge of the details of particular markets and production techniques as well as the ability to recognize and weigh commercial and technical risks that can come only with first-hand experience. Univesities do not have this expertise, and expecting them to get it is unrealistic. The essence of successful development is the ability to work effectively with production and marketing departments; …”