At the end of the day, the input into the universities from the government is cash. That cash is used to do fundamental research. I would allow that not all fundamental research should or could be commercialized. It's probably 10%, 15%, or 20%. The money is going in, but the question is how to measure the productivity of those universities and of that spend. Three simple metrics that I would suggest are the number of start-up companies created at each university, the number of licences consummated, and the dollar amount of those licences. That's a simple way of measuring, quantitatively and not qualitatively, across universities. You can normalize that by the number of dollars that go into each university.
On June 15th, 2017. See this statement in context.