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The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

The NJLSVA was founded to educate suppliers on trends in industry procurement and public policy that affects the life sciences industry.

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Choose New Jersey’s RFP Watch provides up-to-date information on business opportunities throughout the Garden State at a cost that is affordable for all companies – with a place of business in New Jersey – large and small.

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MIT Study Faults U.S. for Risking Nation’s Innovation, R&D Edge

Washington, DC, April 28, 2015 ― Robert McMillan reports in The Wall Street Journal that, with Asia emerging as the world’s powerhouse of research and development (R&D), the United States risks losing its position as a magnet for the world’s best academic researchers, according to a report by the Massachusetts Institute of Technology.

The MIT authors warned that the U.S. government was spending an ever-smaller percentage of its budget on basic R&D.  Though the U.S. leads the world in total R&D outlays, Europe and Asia have been raising their government investment.

The report, titled “The Future Postponed: Why Declining Investment in Basic Research Threatens a U.S. Innovation Deficit,” lays out the funding challenges for research in 15 areas, including the life science areas of Alzheimer’s disease, infectious diseases and synthetic biology.

McMillan reports that the MIT study comes as lawmakers are completing the next federal budget and is, to a certain extent, directed at policy makers.

In 1968, the U.S. spent 9.1 percent of the federal government’s annual budget on R&D, or $16.2 billion out of $178 billion, according to the American Association for the Advancement of Science.  Today the percentage has shrunk to 3.6 percent, or $134.2 billion of the $3.8 trillion 2015 budget.

Though the U.S. leads the world in total R&D outlays, Europe and Asia have been raising their government investment.

To read the full Wall Street Journal story, click here.

To access the 52-page MIT report, click here.