Disagree.
There are three stages of R&D
Basic research
1.) Basic research is experimental or theoretical work undertaken primarily to acquire new knowledge of the underlying foundations of phenomena and observable facts, without any particular application or use in view.
This work is done primarily by the government with some help from the largest corporations
Applied research
1)Applied research is also original investigation undertaken in order to acquire new knowledge. It is, however, directed primarily towards a specific practical aim or objective.
This work is done by the government in conjunction with large corporations. Or large corporations alone and sometimes yields patentable marketable products.
Experimental Development, Entrepreural invention. (Guys in garages)
Experimental development is systematic work, drawing on existing knowledge gained from re-search and practical experience, that is directed to producing new materials, products and de-vices; to installing new processes, systems and services; or to improving substantially those already produced or installed. This last produces patentable products for the market.
This work is done by individuals (in garages) and small companies and yields patentable and marketable products when its successful
Have you worked in r and d?? Companies spend money on it all the time?
If you want to point to government funded research you need to be careful....large $$$$ thrown after trash. Eg green house gases and global warming. Even worse NIF.