Well, some signs of life on the private innovation front. From Ars Technica:
Intel has announced a $3.5 billion plan to boost US job growth and innovation by investing alongside 24 of the country’s top venture capital firms in industries like bioinformatics, clean technology, and IT.
The article went on to say:
I’ve talked to more than one semiconductor startup who has corroborated what I’ve observed from reporting on the tech industry’s response to the financial crisis: R&D has been a major casualty of the downturn, as companies across the industry have axed programs and cut jobs in an effort to boost profits on little income. (Intel is the notable exception here; the chipmaker has continued to invest in R&D throughout the recession.) It’s also the case that startups have had a hard time raising money in this environment. These two factors have combined to sow the seeds of a technology innovation drought that will hit in the next two years, as the products come to market and the innovation pipeline empties out without being refilled.
The innovation drought is already here, folks.