Many proposals have been made for new initiatives in our nation's research and development system. But before rushing into untried approaches, we need to look to the foundations of the system that has worked so well for us in the past. We have a climate for venture capital that has never been better; the world's greatest research universities; an industrial base that is moving aggressively into high technology, spurred by competition; and a defense effort that can be a major asset to civiliarn R & D. We should build our future by understanding and using these existing strengths.