Most Western Innovation was paid for at least in part if not whole by socialized research. The final adaptions to make things into market ready products are all private sector, but that is usually the least of all the innovation. Most private sector innovation is about figuring out the PR and such to sell people on products they otherwise wouldn't want or need. Indeed if you follow the money that is where most of the money in the private sector research and innovation fields have gone in the US over the last 100 or so years.