Producing what?

I assume that the topic is about promoting innovation that stems from academia. Then, there are other venues for getting the financing needed to establish a commercialized production (firm).

Education is a state-financed service that allows researchers to acquire knowledge and nurture ideas. The service is already subsidized (or fully paid) by the tax-payers money. It should not extend to creating spin-off companies, in my opinion. The risk in deploying inventions should be born by the investor (or the inventor) as s/he also would get the profits. That is fair, right?