When companies hire graduates who have learnt from researchers, some of these graduates end up in position to "innovate", quite a few years after the actual research has been done.
For instance, I'm going to talk about the field that I know best: programming languages (to keep it simple, I'm not talking of VMs or compilers, just the languages). Pretty much everything you see in Java, C#, Python or Go dates back to the 70s (with broader testing and quality of life improvements, of course), Swift gets a few improvements imported from the 80s, but not that many. The only industrial languages that seem to have real innovations are F#, Rust and Scala, which are three cases in which the actual researchers managed to convince (or found) a company to support the language.
Anyway, it's really, really hard to measure scientific progress, and if you look at companies to try and gauge it, you're looking at stuff that is typically quite old.