I don't really get the point of your examples. No doubt one could also point to cases where academic researchers discovered something that industry didn't. And businesses also tend to have a hierarchical organization.
Businessman live or die by their skill at picking talent. Bureacrats who fund science live and die by their skill at picked themselves. I'd trust the businessmen to get the job done.
Monetary competitions like the X prize would get you scientific discoveries faster and cheaper than the current system, simply because you would have a businessman driving progress rather than studious scientist-cum-team leader (PI).
Academics aren't particularly beuracratic in my experience -- most of them hate doing paperwork. In any case, your views on this are obviously based on considering what "ought" to happen given your stereotypes, rather than looking at the facts. A vast amount of research gets done in academia.
