NSF Report: Academic R&D Spending Trends According to the National Science Foundation, research and development investments expanded in fiscal 2001, the latest year for which figures were available. Accounting for three quarters of R&D at universities and colleges, basic research spending grew 8.1% to over $24 billion. Federal, state and local governments continued the trend of increased support and provided two-thirds of academia's R&D funding while the institutions themselves accounted for 20% and industry added less than 7%. More than half of R&D spending at institutions was in the life sciences. From 1991 to 2001 academic R&D spending grew over 51% (constant dollars). See the full report...