TECNA Conference August3-5, 2011 Atlanta, Georgia
<ul><li>Approaches designed to encourage the creation and growth of innovative companies, especially  those that are techn...
<ul><li>“ Innovation occurs at the intersection of invention and insight. It’s about the application of invention– the fus...
<ul><li>To achieve widely shared prosperity: </li></ul><ul><li>A vibrant economy </li></ul><ul><li>An ever-expanding winne...
<ul><li>Economic change accelerating in pace and scope </li></ul><ul><li>Driven by technological advances and growing inte...
<ul><li>Intervene at the margins of private sector investment flows of capital (financial and intellectual) to: </li></ul>...
<ul><li>States, regions, and cities develop strategies and action plans to: </li></ul><ul><ul><li>Identify an area’s compa...
<ul><li>Maryland </li></ul><ul><ul><li>Maryland Technology Development Corporation (TEDCO) </li></ul></ul><ul><li>Georgia ...
<ul><li>To facilitate the creation and growth of businesses throughout all regions of the State through the commercializat...
<ul><li>• University Technology Development Fund  </li></ul><ul><ul><li>Support pre-commercial university research for tec...
<ul><li>• Rural Business Innovation Initiative  </li></ul><ul><ul><li>Provide intensive business and technical assistance ...
<ul><li>To date, 145 companies have received MTTCF funding and completed their projects. With an investment of over $10 mi...
<ul><li>Monday, November 14, 2011 </li></ul><ul><li>7:30 a.m. to 6:00 p.m., Baltimore, Maryland The Entrepreneur Expo will...
<ul><li>Identify Clusters </li></ul>
<ul><li>Conduct a SWOT analysis </li></ul><ul><ul><li>Strengths: Talent, Universities, Airport </li></ul></ul><ul><ul><li>...
<ul><li>Coordinate messaging with other entities </li></ul><ul><ul><li>Chambers, Development Authorities, State ED </li></...
<ul><li>Get statistics </li></ul>
<ul><li>Support existing industries via PR assistance, awards/recognition programs, and Economic Gardening </li></ul><ul><...
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Building a Tech Based Economy

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August 5, 2011

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Building a Tech Based Economy

  1. 1. TECNA Conference August3-5, 2011 Atlanta, Georgia
  2. 2. <ul><li>Approaches designed to encourage the creation and growth of innovative companies, especially those that are technology-driven </li></ul><ul><li>Enhancing the competitiveness of existing companies in all industries (including agriculture) by introducing new ways of doing things </li></ul><ul><li>Emphasis is “growing your own” rather than recruitment, although recruitment can play a role, particularly the recruitment of talent </li></ul><ul><li>Goal: create an environment in which innovative firms can be created, grow, and thrive without government action </li></ul>
  3. 3. <ul><li>“ Innovation occurs at the intersection of invention and insight. It’s about the application of invention– the fusion of new developments and new approaches to solve problems.” – Sam Palmisano, Chairman and CEO, IBM </li></ul><ul><li>“ The process that transforms ideas into commercial value.” – The Centre for Innovation Studies in Calgary </li></ul><ul><li>“ A creation (a new device or process) resulting from study and experimentation.” – dictionary.com </li></ul><ul><li>“ Innovation is a locally driven process, succeeding where organizational conditions foster the transformation of knowledge into products, processes, systems, and services.” – Edward Malecki, Technology and Economic Development , from Partnerships for Innovation solicitation </li></ul>
  4. 4. <ul><li>To achieve widely shared prosperity: </li></ul><ul><li>A vibrant economy </li></ul><ul><li>An ever-expanding winners’ circle </li></ul>
  5. 5. <ul><li>Economic change accelerating in pace and scope </li></ul><ul><li>Driven by technological advances and growing interdependence of activities across the globe </li></ul><ul><li>Challenges for </li></ul><ul><ul><li>Companies </li></ul></ul><ul><ul><li>Workers </li></ul></ul><ul><ul><li>Communities </li></ul></ul><ul><li>Technology industries pay higher wages </li></ul><ul><li>Because of the growing technology-intensity of all industry, citizens’ success is increasingly dependent on their ability to learn, adapt, and contribute to innovation </li></ul>
  6. 6. <ul><li>Intervene at the margins of private sector investment flows of capital (financial and intellectual) to: </li></ul><ul><li>Address economic transition </li></ul><ul><li>Capture the benefits of investments in research and development, federal laboratories, higher education </li></ul><ul><li>Put technology to work addressing critical societal challenges </li></ul><ul><li>Build “entrepreneurial cultures” </li></ul><ul><li>Help existing industries modernize </li></ul><ul><li>Make sure citizens are prepared to capitalize on innovation-driven growth </li></ul><ul><li>Diversify the economies of states and regions </li></ul>
  7. 7. <ul><li>States, regions, and cities develop strategies and action plans to: </li></ul><ul><ul><li>Identify an area’s comparative advantages </li></ul></ul><ul><ul><li>Establish a vision, mission, and goals for the future </li></ul></ul><ul><ul><li>Define specific actions and implementation plans with resources needed, partners, time frame, overall priorities, and measurable outcomes </li></ul></ul><ul><ul><li>Carefully monitor results and adjust strategies </li></ul></ul>
  8. 8. <ul><li>Maryland </li></ul><ul><ul><li>Maryland Technology Development Corporation (TEDCO) </li></ul></ul><ul><li>Georgia </li></ul>
  9. 9. <ul><li>To facilitate the creation and growth of businesses throughout all regions of the State through the commercialization of technology. </li></ul><ul><ul><li>– Establish and manage programs that support innovation and promote entrepreneurship </li></ul></ul><ul><ul><li>– Funding for technology transfer and development </li></ul></ul><ul><ul><li>– Funding for business formation, growth and expansion </li></ul></ul>
  10. 10. <ul><li>• University Technology Development Fund </li></ul><ul><ul><li>Support pre-commercial university research for technology commercialization </li></ul></ul><ul><li>• TechStart </li></ul><ul><ul><li>Increase the number of university start-up companies </li></ul></ul><ul><li>• Maryland Tech Transfer and Commercialization Fund </li></ul><ul><ul><li>Transfer and commercialization of technology created or incubated in Maryland </li></ul></ul>
  11. 11. <ul><li>• Rural Business Innovation Initiative </li></ul><ul><ul><li>Provide intensive business and technical assistance to technology-based companies </li></ul></ul><ul><li>• Federal Tech Transfer Initiatives (in and out) </li></ul><ul><ul><li>Facilitate the commercialization of federally funded research and create opportunities for companies to further their innovations </li></ul></ul><ul><li>• Maryland Stem Cell Research Fund </li></ul><ul><ul><li>Promote state-funded human stem cell research and medical treatments through public and private entities </li></ul></ul>
  12. 12. <ul><li>To date, 145 companies have received MTTCF funding and completed their projects. With an investment of over $10 million these companies have gone on to receive downstream funding from angel and venture investors, federal awards and other resources exceeding $435 million. This is a leverage of the state’s investment through TEDCO of $43.3 to $1. </li></ul>
  13. 13. <ul><li>Monday, November 14, 2011 </li></ul><ul><li>7:30 a.m. to 6:00 p.m., Baltimore, Maryland The Entrepreneur Expo will take place as part of Global Entrepreneurship Week (GEW) , with world-wide activities in recognition of the entrepreneurial spirit. It is the first large-scale event dedicated to promoting the key to Maryland’s innovation economy, its entrepreneurs. The day will include several programming tracks, dynamic exhibit floor, keynote sessions, networking reception and more. </li></ul>
  14. 14. <ul><li>Identify Clusters </li></ul>
  15. 15. <ul><li>Conduct a SWOT analysis </li></ul><ul><ul><li>Strengths: Talent, Universities, Airport </li></ul></ul><ul><ul><li>Weaknesses: Capital, Strategic Plan, Marketing </li></ul></ul><ul><ul><li>Opportunities: Create a world-class VC event, support legislation to promote angel investing; Create a strategic plan (SR68); Hire a PR Director/Technology Evangelist </li></ul></ul><ul><ul><li>Threats: </li></ul></ul>
  16. 16. <ul><li>Coordinate messaging with other entities </li></ul><ul><ul><li>Chambers, Development Authorities, State ED </li></ul></ul><ul><ul><ul><li>Cross pollinate committees </li></ul></ul></ul><ul><ul><ul><li>Get early buy-in </li></ul></ul></ul><ul><ul><ul><li>Define your role – what you won’t be doing, as well as what you will do </li></ul></ul></ul>
  17. 17. <ul><li>Get statistics </li></ul>
  18. 18. <ul><li>Support existing industries via PR assistance, awards/recognition programs, and Economic Gardening </li></ul><ul><ul><li>“ Economic gardening connects entrepreneurs to resources, encouraging the development of essential infrastructure and providing entrepreneurs with needed information.” </li></ul></ul>

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