Blue skies research (also called blue sky science) is scientific research in domains where "real-world" applications are not immediately apparent. It has been defined as "research without a clear goal" and "curiosity-driven science". It is sometimes used interchangeably with the term "basic research". Proponents of this mode of science argue that unanticipated scientific breakthroughs are sometimes more valuable than the outcomes of agenda-driven research, heralding advances in genetics and stem cell biology as examples of unforeseen benefits of research that was originally seen as purely theoretical in scope. Because of the inherently uncertain return on investment, blue-sky projects are sometimes politically and commercially unpopular and tend to lose funding to research perceived as being more reliably profitable or practical.

 

Note:   The above text is excerpted from the Wikipedia article Blue skies research, which has been released under the GNU Free Documentation License.