With business, if you don't innovate, you die. University research is usually grant-driven. Grants are the result of filling in the right answers and telling a committee what they'd like to hear. There's much more urgency to be constantly innovating in business.
With business, your innovation absolutely has to turn a profit. This means that important research with less potential profit will die out, e.g. malaria and tuberculosis treatments.
It is for this reason that I believe there is still a place for academia in our society.
