Not to sound like an anti-intellectual, but it could be a mistake to assume that innovation comes from academia.
Nassim Nicholas Taleb has a convincing chapter (I think it is Chapter 13: Lecturing Birds to Fly) in his book "Antifragile" about this very thing.
Then there are cultural differences that could be at play concerning innovation. It is a general observation that east asian cultures tend to suppress risk-taking and innovation. Whereas, western cultures seem to promote risk-taking and innovation. That is not to say that there aren't risk takers in China and risk averse individuals in the West...just that overall there may be asymmetry. And, very little asymmetry can create very big differences.
So, have all the smartest people you want, doing all the research you want; but if they have no pressure to put that research to practice, nor a desire or support to take the risks associated with implementation then you might as well have nobody doing anything.
Then there are cultural differences that could be at play concerning innovation. It is a general observation that east asian cultures tend to suppress risk-taking and innovation. Whereas, western cultures seem to promote risk-taking and innovation. That is not to say that there aren't risk takers in China and risk averse individuals in the West...just that overall there may be asymmetry. And, very little asymmetry can create very big differences.
So, have all the smartest people you want, doing all the research you want; but if they have no pressure to put that research to practice, nor a desire or support to take the risks associated with implementation then you might as well have nobody doing anything.
Just a thought.