Earlier quoted context omitted.
Only for a few industries, mostly the ones that took off around WWII.
Uh… DARPA, In-Q-Tel, etc…
I’m trying to think of what industries this might not be the case for. Research thin industries like entertainment and media? Has the development of things like OLED mostly been by private companies? I guess finance? Seemingly if it involves engineering the government at least made the seed investment.