Public programs are great, they redistribute the largess of success to the less successful or fortunate via taxes. Every civilised society has some, of varying value, but necessary none the less.
Public entrepreneurial programs are a bit different, despite the best efforts of well meaning public servants everywhere, they just never work.
Entrepreneurs simply do not show up at public show and tells, they keep their ideas to themselves and those who are able to add some skin to the game, and feel the loss if this skin gets scraped off.
That is part of the reason we Aussie tax-payers pump millions into innovation via the various well meaning agencies, but get stuff all back. The vast majority of this well meaning but misdirected assistance ends up in the pockets of consultants (thank you) snake oil salesmen, and those with institutional ties, not with the people doing the real work of innovation.
In saying this you must consider R&D and innovation to be different, one is the development of the science, the other is using it. Public funding of the infrastructure of science is essential, although subject to political whim and manipulation, the leveraging of the science should not be the domain of the public sector beyond harvesting royalties to fund the continuing effort.
The only way to engage with entrepreneurs is one on one, with the absolute trust that what gets discussed, stays with those in the discussion, and is not spread around for some ephemeral notion of equity and greater good.
Real entrepreneurs find new spaces to inhabit, places others have not seen, all others then follow them in.