Engineering, Research & Development OVERVIEW
Nothing could better illustrate the world's vital need for continual massive investments in R&D than the Coronavirus pandemic that swept across the world from late 2019 through 2021.
An intense, global effort resulted in the availability of highly effective vaccines in record time—a few months compared to what typically would take a few years. Vast numbers of university students around the globe are enrolled in engineering and scientific disciplines—many of them dreaming about potential rewards if their future research efforts become commercialized.
Global research collaboration (between companies and between companies and universities) is booming, as is patenting.
In fact, it is difficult for patent authorities in the U.S.
and elsewhere to keep up with demand.
Globalization, immigration and cross-national collaboration have such a dramatic effect on research and design that nearly one-half of all patents granted in America list at least one non-U.S.
citizen as a co-inventor.
universities, like the University of Texas and the University of Wisconsin, as well as universities in such nations as China, Korea and Singapore, are eager to patent their inventions and reap the benefits of commercialized research.
Top research universities earn millions of dollars each in yearly royalties on their patents. The “2020 Global R&D Funding Forecast,” published by the Industrial Research Institute and R&D Magazine, estimates global spending on research and