Have you ever wondered how much money is spent on research and product development each year? Or where all the money comes from that enables what we generically refer to as “innovation”? Or how these monies are allocated across basic research, applied research, advanced development, and product development? Probably not. Most practitioners are mostly concerned with whether their budgets will be cut or increased. “Up or down is what I need to know,” holds true whether one is innovating in academia, government laboratories, for-profit companies, or makers funded by venture capital.