Crossing the Valley

The Obama administration is pouring billions of stimulus
dollars into research on everything from medical science to alternative energy.
Its a windfall. The University of Washington alone could receive up to $300
million. Whats not to like?

Research, and the technology it produces, opens new
frontiers, raises productivity and improves our quality of life. Apples iPod
was the result of research sponsored by five different government agencies into
such diverse technologies as magnetic storage devices, lithium batteries and
liquid crystal display screens.

Unfortunately, it often takes decades to translate research
results into tangible products. The tendency of research institutions to reward
scientists for the papers they publish in journals rather than for the social
impact of their research sometimes discourages them from doing the extra work
required to apply their results to solving real-world issues.

Thats a significant challenge. Continued government
spending on research depends on support from a fickle public. Unless
universities can show concrete results, funding for that research will
eventually dry up.

Fortunately, in
our state at least, institutions are waking up to the importance of tech
transfer. In his story on the subject, Paul Freeman describes how, under the
leadership of Linden Rhoads, the UW has significantly improved its ability to
identify and commercialize research results. Freeman also shows how Washington
State University has created a new research institution that can better
commercialize new discoveries.

While research is critical, lets not forget about the
tinkerers who turn these discoveries into usable products. America has a great
tradition of inventors building better mousetraps. These days, the tinkerer is more likely to be a software
programmer who turns ideas or business models into productsthink games,
productivity tools and iPhone applicationsthat, overnight, can be offered to
millions of customers over the internet.

Thats also good news for our region, since we have more
programmers per capita than just about any other city in the country. In this
months cover story, Bryan Corliss looks at how companies in our region are
using software to transform old industries in such sectors as publishing and
real estate.

Software firms
in our region are creating great wealth. Fortunately, they are investing much
of that wealth into new research and technology. This money, much of it
invested in startups through angel investment organizations in our region,
helps entrepreneurs cross the valley of deaththat tough period between the
launch of a new product to its adoption in the marketplace. Our research
institutions, with the right leadership, can make technology transfer even
easier and contribute even more to this great cycle of wealth and innovation.