"Folks, this is where the future lies,” he said.
“Our economic future will grow from ideas that are incubating at universities. That’s the breeding ground and it always has been.”
Biden also said he is "always amazed" at critics of federal research spending.
“Some of our critics act like we’ve come up with some new social intervention,” he said, contrasting that attitude with the mindset in countries such as India and China, where he said leaders understand the need for research investments. “The rest of the world gets this, and we can’t afford to lag behind. We cannot afford to not rededicate ourselves to the work you guys around the table do.”