November 22, 2002
US National Science Foundation Budget To Double

It starts off from $4.81 billion this year and doubles by 2007.

The bill provides a 15 percent increase for the foundation in each of the next five years, taking its budget from $4.81 billion in fiscal year 2002, which ended Sept. 30, to $9.8 billion in fiscal year 2007.

Note the nanotech targetting for the increase in funding:

The legislation, which has been passed by both the House of Representatives and the Senate, is now headed to Bush for final review and a signature. The bill authorizes $5.5 billion in funds for 2003, rising to $9.83 billion by 2007, for the NSF, a primary source of research grants for universities and, in turn, many start-up companies.

The increased funding is specifically targeting research on campus and startups involved in nanotechnology and plant genome research.

15 percent per year increase:

Funding for the NIH increased 15.5 percent last year. The current measure would increase NSF funds by 15 percent each year over a five-year period that could begin as early as the 2004 fiscal year.

The targetted increase for nanotechnology will yield especially dramatic results. The rate of scientific and technological advance looks set to accelerate.

Share |      Randall Parker, 2002 November 22 09:41 AM  Policy Science

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