random information since I happen to be looking at it today: I've been a professor since 2003 and during that time I've had 8 grants funded by NSF, and had 16 proposals declined by them
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In those same 17 years, turnaround time for VC seed financings have diminished considerably. Not hating on academia in the least but can't they come up with a better funding model?
I don't think it's hard to come up with better funding models for academia, but it is hard to get them implemented