In 1940, Harvard Business School professor Georges Doriot was drafted into the US Army for World War II. Once the war was over, he had different plans than teaching at Harvard. War had taught him the important role of science and technology in a country’s progress. And he decided to pursue a new path. He set up the American Research & Development Corporation (ARDC) to facilitate the investment of private money into businesses started by soldiers. He raised money from sources other than wealthy families (very different from the norm then) with the aim to “encourage commercialization of technological innovations”.
