Here is a snippet from another document on alternative ways to fund academic research.
...I am particularly interested in developing the massively underexploited economy around basic research. In my opinion universities have focussed too heavily on commercialising only those innovations that generate large payoffs. Yet along the way research often generates many smaller developments of lesser commercial value that typically are not exploited. It is upon many small profits (in ‘the long tail’) that companies such as Amazon are built. Universities need to make more of their smaller developments. Working up new approaches to funding research is one of the activities of our growing band of Hartlibians.
Figure 1. A monkey with a long tail (photographed by Peter Maas)
Publishing
To give an example, consider that basic research produces many small pieces of new knowledge. By publishing in for-profit journals this converts public money into private profit, hence the movement towards open access publishing. I do not think this goes far enough. I believe that universities should run their own journals where their researchers can publish (with open peer review for independent scrutiny) and use advertising revenue to fund future research. The returns per article will not be huge but they will be many. My friend Duncan Hull is already demonstrating how to use blogging software to efficiently run peer-review.
You might also notice my blog carries adverts. Blogging is a marvellous way of sharing ideas and connecting with the World. Any modern researcher who doesn't have a website or blog must be bonkers in the nut.
To give an example, consider that basic research produces many small pieces of new knowledge. By publishing in for-profit journals this converts public money into private profit, hence the movement towards open access publishing. I do not think this goes far enough. I believe that universities should run their own journals where their researchers can publish (with open peer review for independent scrutiny) and use advertising revenue to fund future research. The returns per article will not be huge but they will be many. My friend Duncan Hull is already demonstrating how to use blogging software to efficiently run peer-review.
You might also notice my blog carries adverts. Blogging is a marvellous way of sharing ideas and connecting with the World. Any modern researcher who doesn't have a website or blog must be bonkers in the nut.
Making
Universities might also look into making more of their own basic lab kit to reduce costs by following the Maker, Thingiverse and Instructables communities springing up online. Look at the dremelfuge - marvellous(ly dangerous)! And what scientist wouldn't want a RepRap printer? Not only is this stuff cheaper, it is fun. If we did this I'd never have to hear another story like the one about the cell counting microscope for £12.5K that my friends and I could better with an afternoon in Maplin and a bit of hacked together code. Done well might these little bits of kit be more small products for the long tail?
Putting on the Ritz
How many times a month do we see US academics in the news talking about things we Britishers wouldn't dream of showing off about? Ever since Barnum the US has understood showmanship, but it doesn't seem to come naturally over here. Yet people like to associate with success and will pay to do so. We can't all be on the BBC like Jim Al-Khalili or the wonderful, cheeky-faced Brian Cox, but researchers might do more to get their names out there and engage with people. You never know who might cough up to hear your two cents.
Developing such activities will be difficult for academics busily chasing grants, writing papers, teaching and everything else. It might be useful if the policy wonks and infrastructurewallahs can find some little pot specifically to help this transition to life in the long tail. We won't fix all our funding worries in this way, but with bigger commercial successes, a sensible grants system and a lot of innovation and derring-do, we'll be okay.
Much kudos to Lord Drayson for using Twitter to garner feedback on his piece on the New Scientist blog. I do hope he reads this (and then says '"Paul, you sound like a good egg, why don't you head up some sort of report into long-tail activities?" And I'll say "Certainly" and "Thank you very much", as is appropriate when addressed by a Lord).

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