Yes there are a few inaccurate generalizations here. Another gem is: "Only a disproportionately minute number of discoveries traditionally came from directed academic research. "
Having said that the essence of the article is quite interesting.
By reading some of the entries in the Startup news section. one gets the feeling that these people are self-centered and have a limited viewpoint of what the masses really wanted.
Erm... My education hasn't been based on drills and memorisation despite being 'European'. I wish journalists wouldn't just make stuff up.