University research contributes substantially to innovation in the U.S. Carnegie Mellon (CMU) has been a key participant in the advancement of information technology since before the inauguration of the Department of Computer Science (CS). New knowledge enables innovation, which in turn enables productivity, which drives economic growth. The university is especially important because in the crucible of new knowledge creation, it educate students who carry that knowledge out into society, including industry. This talk will discuss the place of the university in the U.S. Innovation Enterprise, with some anecdotal stories about CMU CS and contributions of some of the stellar individuals.