TI President, Chairman and CEO Rich Templeton recently spoke before the U.S. House Committee on Science, Space, and Technology.

TI President, Chairman and CEO Rich Templeton urged Congress to support investments in basic scientific research to sustain America's economic strength, national security and global competitiveness.

Testifying before the U.S. House Committee on Science, Space and Technology, recently Templeton highlighted the contributions of scientific and technological innovation to U.S. economic growth.

"While there are a number of factors that explain our leadership and success, the investments by the federal government in basic research at universities and federal labs were a critical factor," said Templeton, who is also chairman of the Task Force for American Innovation.

"Federal funding of fundamental scientific research is critical to our nation's continued competitiveness, economic growth and workforce development," he said. "It will shape our future. It will launch new industries, undergird our scientific and engineering infrastructure, produce our next Nobel Laureates, ensure the unparalleled academic excellence of our universities and provide an economic future for the nation."

The subject of the hearing was "American Competitiveness: The Role of Research and Development" and its purpose was to explore how America can continue to be the leader in global innovation. The Chairman of the Committee is Lamar Smith (R-Texas), and the Ranking Minority member is Rep. Eddie Bernice Johnson (D-Texas). Templeton was a panelist at the hearing, along with Dr. Chuck Vest, president of the National Academy of Engineering and president emeritus of the Massachusetts Institute of Technology, and Shirley Ann Jackson, president of Rensselaer Polytechnic Institute.

Templeton's testimony stressed the importance of the federal government's role in innovation in particular through support for basic or fundamental research — research to discover basic principles without necessarily having a commercial purpose in mind — that can lead to innovations that pay off for years into the future.

He cited investments in the national space program and Defense Department that propelled many of the advancements in the semiconductor industry as a prime example. Today, semiconductor companies based in the U.S. represent nearly half of the worldwide market sales and support almost 250,000 jobs.

"Basic research requires significant funding from the federal government because it can take the long-term view and make the scope of investment needed," Templeton said, adding: "This funding goes to universities, not to companies."

Federal investment in basic research in physical sciences and engineering as percentage of GDP has fallen to less than half the level of 1970. By contrast, our competitors have increased their R&D spending as a share of GDP. He warned that the U.S. risks losing its advantage if the innovation occurs elsewhere.

Templeton said talent is also a critical component to innovation. The U.S. must make world-class education in science, technology, engineering and math (STEM) a national priority while implementing it on the local level.

"Our own K-12 STEM systems are faltering, and we have to get that turned around," he said.

Templeton also urged Congress to reform immigration laws to enable the U.S. to attract and retain the world's best and most innovative minds.

He noted that "the best minds have got other choices around the world" and that under current policies students who come to study at U.S. universities are shown the door after we educate them.

Where the innovation occurs matters, he said. Again using the semiconductor industry as an example he noted, "the country that leads in nanoelectronics will reap the economic benefits the way the U.S. dominated the microelectronics era."

"Investing in research, universities, talent, and in great ideas is investing in the future," he concluded. "It has what has made America great and can help us maintain our competitiveness in a changing world."

Watch a video replay of Templeton's testimony or watch the archived webcast of the entire hearing here. You can also read his written testimony.