Although the proposed funding increase amounts to only a fraction of one percent of the state's annual $101 billion general fund, Schwarzenegger's finance department said the investment could help the university system win back more than $700 million in public and private grants by making the programs more competitive.Read more at Mercury News.
The University of California, Berkeley and UC San Diego are in the running for a $500 million grant from British Petroleum to open an Energy Biosciences Institute. Lawrence Berkeley National Laboratory and UC San Diego are also competing with universities nationwide for a $200 million federal grant to build a next-generation supercomputer - one 1,000-times faster than any that exists today.
"As a leader in developing new technologies, California will reap tremendous rewards for our economy and environment from this investment in our innovation infrastructure," Schwarzenegger said in a statement, which dubbed the proposal his Research and Innovation Initiative.
Schwarzenegger wants more technology research funding
Posted on Sunday, Dec 31 2006 @ 09:15 CET by Thomas De Maesschalck
Arnold Schwarzenegger proposed a budget of $95 million to promote green, biomedical and nanotechnology research at the University of California.