I work at the intersection of many STEM fields at a prestigious university. I think very little important research is coming from universities anymore. The paper publishing factory, again credentialing, has taken over. I think we need a renaissance in STEM but strongly believe this will happen outside of academia.
How do we get around the issue of funding though? A lot of innovative projects come out of universities because governments give them money without expecting an immediate return on investment. How can we create a non-academia system that has the resources to take on big, risky ventures without that system becoming isomorphic to academia?