America21 Urban Innovation Ecosystem - Pittsburgh Presentation

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The America21 Project (http://blackinnovation.org) is the nation's only national authoritative voice dedicated to Inclusive Competitiveness through the building of urban innovation ecosystems that …

The America21 Project (http://blackinnovation.org) is the nation's only national authoritative voice dedicated to Inclusive Competitiveness through the building of urban innovation ecosystems that connect economically disconnected sectors with existing regional innovation clusters to strengthen the overall economy.

America21 is a valuable resource for economic regions, education institutions, communities, conferences, summits, business and political leaders seeking to invest and uplift economically disconnected sectors across America to connect with the 21st century innovation economy and strengthen America's global competitiveness.

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  • 1. Building Inclusive Competitiveness in Urban America from Pipeline to Productivity Changing the economic narrative Developing innovation ecosystems Connecting the disconnected ©2012 A21
  • 2. Building Inclusive Competitiveness in UrbanEntrepreneurship America from Pipeline to ProductivityAccess to Capital Changing the economic narrative Developing innovation ecosystems Connecting the disconnected ©2012 A21
  • 3. America’s Transitioning Economy 19th century 20th century agrarian economy manufacturing and service economy 21st century Knowledge-based, tech-drivenSince 1980, nearly ALL net new jobs are due to companies five years old and younger.**Kauffman Foundation report, 2010 ©2012 A21
  • 4. America’s Transitioning Economy 19th century 20th century agrarian economy manufacturing and service economy GAZELLES: Comprise less than 1% of all companies However …21st CenturyINNOVATION ECONOMY RISK Fastest-growingDISRUPTIVE Capital young firms Ideas HIGH-GROWTH account for 10% entrepreneurs of all net new jobs every year! ©2012 A21
  • 5. WHAT IS AN INNOVATION ECOSYSTEM?PIPELINE: STEM education (science, technology,engineering and math) is the common ground cultivated toproduce America’s innovative high-growth entrepreneurs.ENTREPRENEURSHIP: Cultivating a culture ofentrepreneurship requires wraparound resources, education,networking events, workshops, mentoring and pitch sessions.HIGH-GROWTH entrepreneurship has produced nearly ALLnet new jobs in America, since 1980.*ACCESS TO CAPITAL: A culture of risk capital(angel investors and venture capital) is required to fuelstartup and early stage growth companies that createjobs and exponential economic impact.Source: Kauffman Foundation ©2012 A21
  • 6. WHAT IS AN INNOVATION ECOSYSTEM?PIPELINE: STEM education (science, technology,engineering and math) is the common ground cultivated toproduce America’s innovative high-growth entrepreneurs.ENTREPRENEURSHIP: Cultivating a culture ofentrepreneurship requires wraparound resources, education,networking events, workshops, mentoring and pitch sessions.HIGH-GROWTH entrepreneurship has produced nearly ALLnet new jobs in America, since 1980.*ACCESS TO CAPITAL: A culture of risk capital(angel investors and venture capital) is required to fuel “Silicon Valley would still be smart engineers sittingstartup and early stage growth companies that createjobs and exponential economic impact. garages without a culture of risk capital.” in theirSource: Kauffman Foundation Steve Blank, Professor of Entrepreneurship Stanford University
  • 7. America’s Innovation Economy 21st CONNECTED century DISCONNECTED Entrepreneurial No Ecosystem EcosystemPublic-Private risk capital No investment infrastructure infrastructureExponential job growth No job growth ©2012 A21
  • 8. America’s Innovation Economy $30B $9B 2011: Amount venture 2011: Amount angels capitalists invested in invested in early stage 3051 companies (not companies in the first including angel half (Q1/Q2) of 2011. investors).* $3.5B targeted startup companies.*Source: CBInsights & Center for Venture Research, University of New Hampshire
  • 9. America’s Innovation Economy $30B $9B 2011: Amount venture capitalists 2011: Amount angels invested in invested in 3051 companies (not early stage companies in the first including angel investors).* half (Q1 / Q2) of 2011. $3.5B targeted startup companies.*The yield rate for Minorities represent just 5% ofinvestments in minority the angel investment space.entrepreneurs is 17%, Minority entrepreneurs pitchingwhich is higher than overall to angels in 2011 = 11%.market yield rates.*Source: CBInsights & Center for Venture Research, University of New Hampshire
  • 10. BADNEWS TREND: U.S. Manufacturing Employment as a Percentage of Total U.S. EmploymentAfrican Americans sufferchronic high 1960: 29%unemployment at twicethe rate of WhiteAmericans. That stat hasremained consistent everyyear since Dr. MartinLuther King complained ofchronic joblessness on the 2011: 9%Washington Mall in 1963. ©2012 A21
  • 11. BADNEWS TREND: U.S. Manufacturing Employment as a Percentage of Total U.S. EmploymentAfrican Americans sufferchronic high 1960: 29%unemployment at twicethe rate of WhiteAmericans. That stat hasremained consistent everyyear since Dr. MartinLutherMinorities are of King complainedchronic joblessness on the over-represented 2011: 9%Washington Mall in 1963. in manufacturing and service sector job markets. ©2012 A21
  • 12. GOODNEWSHOMEWOODhas an Urban Innovation Ecosystem ©2012 A21
  • 13. GOODNEWSHOMEWOODhas an Urban + PARTNERS Innovation Ecosystem ©2012 A21
  • 14. Building Inclusive Competitiveness in Urban America from Pipeline to Productivity Urban Innovation21 TEAM Carlow UniversityPIPELINE: Community College of Allegheny County Duquesne University Institute for Transfusion Medicine Point Park UniversityENTREPRENEURSHIP: Idea Foundry Innovation WorksACCESS TO CAPITAL: Idea Foundry Innovation Works PNC Bank Hill House Economic Development Corporation Heinz Endowment Urban Redevelopment Authority of Pittsburgh
  • 15. Building Inclusive Competitiveness in Urban America Vision from Pipeline to Productivity StrategiesCOACH Outcomes Urban Innovation21 TEAM Carlow UniversityPIPELINE: Community College of Allegheny County Duquesne University Institute for Transfusion Medicine Point Park UniversityENTREPRENEURSHIP: Idea Foundry Innovation WorksACCESS TO CAPITAL: Idea Foundry Innovation Works PNC Bank Hill House Economic Development Corporation Heinz Endowment Urban Redevelopment Authority of Pittsburgh
  • 16. VISIONWhat if HOMEWOOD wereGround Zero for the best andbrightest minds in UrbanInnovation to assemble andlend their expertise and bestpractices to generatingstrategies for economicrevitalization of HOMEWOOD?
  • 17. Partnership VISION SummitWhat if HOMEWOOD wereGround Zero for the best andbrightest minds in UrbanInnovation to assemble and Urban Innovation21 Economic Summitlend their expertise and best Leaders Pipeline: Entrepreneurial Education Entrepreneurship: High-Growth Resourcespractices to generating Capital: Angels, Foundations, VCs, Banksstrategies for economicrevitalization of HOMEWOOD? Changing the narrative
  • 18. STRATEGYWhat if HOMEWOOD developed itsown urban innovation ecosystem?
  • 19. STRATEGYWhat if HOMEWOOD developed itsown urban innovation ecosystem? Generating channels of creative activity can help disrupt the current paradigm and HOMEWOOD refocus the attention on problem-solving Idea Machine through entrepreneurship. HOMEWOOD Online platform empowers anyone with an idea to plug it into the Idea Machine Urban and receive feedback on viable resources Innovators to advance the idea.HOMEWOOD Urban Innovators and Angels groups help develop the framework for an internalUrban Angels urban innovation ecosystem.
  • 20. WHO ARE WE? A21 is a national nonprofit dedicated to inculcating a new economic vision for economically disconnected sectors of Urban America. 2011 CNN screenings: A21 is the ONLY authoritative national voice Black In America, articulating a message of job growth and wealth Silicon Valley creation within a 21st century Innovation Economy Portland, Oregon framework. Urban Innovation Roundtable A21 works to connect the economicallyGathering of Angels disconnected through a core framework of:& Entrepreneurs • STEM Education & Workforce DevelopmentMinority BiomedicalEntrepreneurship • High-Growth EntrepreneurshipConference • Access to Capital & Risk Capital FormationNational Associationof Black Journalists:Media Entrepreneur ©2012 A21workshops & panels
  • 21. WHO ARE WE? Johnathan Holifield is co-founder Dr. Chad Womack is a co-founder Mike Green is a co-founder and Principal of The America21 and Principal of The America21 and Principal of The Project and serves as the A21 Project and serves as the A21 America21 Project and serves economic development expert. Managing Director. His background as the A21 mass His background includes: includes: communications expert. HisLed the 100-day community initiative, with more Extensive background in science, science background includes:than 300 volunteers that launched CincyTechUSA, education, biotechnology, tech-entrepreneurship and innovation-based economic development. 14 years award-winning journalist:comprised of university presidents, Fortune 500CEOs, innovation entrepreneurs and technology • New York Times Leadership Academy Fellowadvocates. Dubbed the “Regional Voice of Co-founded and launched 3GEN Vaccines Inc. – a • Graduate of the Maynard Media Institute atTechnology and Innovation.” nanobiotechnology company, and served as the Harvard company’s founding President and Chief Science • CNN.com trainingPartnered with universities and businesses to Officer (CSO). • Dow Jones: Conceived, led and managedform $40M of risk capital, which sparked the award-winning online news website andcreation of a $250M network of early-stage Served as the founding President and Chair of social media platforms. Many awards forinvestment funds to spur high-growth TBED21, Inc. a technology- based economic editorial writing, editing and page design atentrepreneurship while building an inclusive development nonprofit organization dedicated to Oregon at Dow Jones Local Media Groupregional technology and innovation movement empowering urban centers and underserved daily newspaper in Oregon.that created Ohio’s first information technology- communities through science, technology andbased urban high school. innovation. Internet Tech Entrepreneur: Founder and CEO of Vizitnow3D, Inc.;Partnered with universities, businesses and Established the Philadelphia STEM Innovation Co-founder of Epiphany3D, LLC.nonprofits to obtain more than $40M in grant Center and the Philadelphia Biotechnology andfunding, cash investments and in-kind support for Life Sciences Institute (PBLSI).research and commercialization to nurture a high-growth entrepreneurial ecosystem, including a Completed post-graduate research fellowships atbusiness accelerator and training program. the National Institutes of Health (NIH),; the Harvard AIDS Institute and the Harvard School ofReceived Ohio gubernatorial appointment to the Public Health.Midwest Governors Association Investments forthe Knowledge-based Economy Project, serving as Dr. Womack earned his Ph.D. in Biomedicalco-chair of the Increasing Research Capacity and Sciences from the Morehouse School of Medicine,Accelerating Commercialization Team. and is a proud graduate of Morehouse College.Received gubernatorial appointment to the OhioHouse and Senate Joint Legislative Commission on ©2012 A21High-Tech Business.
  • 22. Contact Us: Developing Inclusive CompetitiveGeneral: Urban Innovation Ecosystemsinfo@blackinnovation.orgMike GreenA21 Co-founderEmail:Mike@blackinnovation.orgPhone:541.730.2164 ©2012 A21
  • 23. QUESTIONS
  • 24. QUESTIONS Oakland, CAExample:Urban Fire is a 2-part program that teaches theprinciples of entrepreneurship to inner cityresidents in Oakland, Calif. and then providesresources to assist them in launching their business.