Chicago:  Building an Ecosystem,  Driving Success Fred Hoch, President Illinois Technology Association (ITA) March 23, 2010
<ul><li>Tier 1:  Silicon Valley, Boston, Seattle </li></ul><ul><li>Tier 2:  San Diego, Austin, North Carolina,  Virginia, ...
Illinois Technology Industry By the Numbers <ul><li>4500 Information Technology Companies </li></ul><ul><li>300,000 Worker...
However… <ul><li>No One Talked to One Another – Lots of technology silos </li></ul><ul><li>No One Thinks of Chicago as a T...
But it wasn’t until recently that we began to build an ECOSYSTEM out of necessity to change all that!
How did we get ready to build a Top Technology Center? <ul><li>Inventory </li></ul>
<ul><li>Financial Services </li></ul><ul><li>Healthcare </li></ul><ul><li>Travel </li></ul><ul><li>Real Estate/Constructio...
What is Chicago Technology? <ul><li>In verticals such as financial services, manufacturing, real estate, travel and health...
How do you get ready to build a Top Technology Center? <ul><li>Inventory </li></ul><ul><li>Be Prepared for Opportunity </l...
<ul><li>Move to Electronic Trading </li></ul><ul><li>Demise of Motorola </li></ul><ul><li>Digitization of Business </li></...
How do you get ready to build a Top Technology Center? <ul><li>Inventory </li></ul><ul><li>Be Prepared for Opportunity </l...
Who has the passion?  <ul><li>Not the incumbents,  </li></ul><ul><li>but those who will be leaders in 10, 20 years! </li><...
How do you Build a Top Technology Center? <ul><li>Connect </li></ul>
Connect: FORCE THEM TOGETHER! <ul><li>Bring together all part of the ecosystem: big companies, small companies, different ...
How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul>
Collaborate: Be a Nexus! <ul><li>Start to find ways to have them work on efforts of self interest and community passion.  ...
How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li...
Communicate: Bullhorn It! <ul><li>Get the word (reality AND opportunity) out to everyone  – not just tech cluster  </li></...
How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li...
Collegiate: Open the Ivory Tower <ul><li>Find ways to break down the barriers with Universities </li></ul><ul><ul><li>Figu...
How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li...
Coerce <ul><li>Get Government Officials off the Dime! </li></ul><ul><li>First, get them out of the way </li></ul><ul><li>S...
How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li...
Capitalize It: Raid the Piggy Bank <ul><li>Find the Money </li></ul><ul><ul><li>Not Just “VCs” </li></ul></ul><ul><ul><li>...
How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li...
Illinois Technology Association By the Numbers <ul><li>5 Years Old (last week) </li></ul><ul><li>Private Sector Driven </l...
<ul><li>Is your region the technology center of the next 25 years?  </li></ul>
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  1. 1. Chicago: Building an Ecosystem, Driving Success Fred Hoch, President Illinois Technology Association (ITA) March 23, 2010
  2. 2. <ul><li>Tier 1: Silicon Valley, Boston, Seattle </li></ul><ul><li>Tier 2: San Diego, Austin, North Carolina, Virginia, Portland and a host of other “tech” cities </li></ul><ul><li>Where does Chicago fit? </li></ul>How does Chicago compare in the US?
  3. 3. Illinois Technology Industry By the Numbers <ul><li>4500 Information Technology Companies </li></ul><ul><li>300,000 Workers </li></ul><ul><li>$17 Billion in Salaries </li></ul><ul><li>Vendor and Customer Workforce (Technology Companies and IT Departments) </li></ul><ul><li>Ranked in top 5 in IT employment in US </li></ul><ul><li>Huge operations of national players (e.g. IBM, Microsoft) </li></ul>
  4. 4. However… <ul><li>No One Talked to One Another – Lots of technology silos </li></ul><ul><li>No One Thinks of Chicago as a Technology Center </li></ul><ul><li>Government didn’t care </li></ul><ul><li>There was no Money </li></ul><ul><li>Big Companies didn’t know small companies </li></ul>
  5. 5. But it wasn’t until recently that we began to build an ECOSYSTEM out of necessity to change all that!
  6. 6. How did we get ready to build a Top Technology Center? <ul><li>Inventory </li></ul>
  7. 7. <ul><li>Financial Services </li></ul><ul><li>Healthcare </li></ul><ul><li>Travel </li></ul><ul><li>Real Estate/Construction </li></ul><ul><li>Manufacturing </li></ul><ul><li>Transportation and Logistics </li></ul><ul><li>Location Based Services </li></ul><ul><li>Gaming </li></ul><ul><li>Retail </li></ul><ul><li>Media/Advertising </li></ul><ul><li>Business Services </li></ul>Top Verticals in Illinois Information Technology
  8. 8. What is Chicago Technology? <ul><li>In verticals such as financial services, manufacturing, real estate, travel and healthcare, Illinois is home to the companies leading the digital business revolution . </li></ul><ul><li>We are not Facebook and Google – We are not cool! </li></ul>
  9. 9. How do you get ready to build a Top Technology Center? <ul><li>Inventory </li></ul><ul><li>Be Prepared for Opportunity </li></ul>
  10. 10. <ul><li>Move to Electronic Trading </li></ul><ul><li>Demise of Motorola </li></ul><ul><li>Digitization of Business </li></ul><ul><li>High Cost of Healthcare </li></ul>Challenges or Opportunities?
  11. 11. How do you get ready to build a Top Technology Center? <ul><li>Inventory </li></ul><ul><li>Be Prepared for Opportunity </li></ul><ul><li>PASSION </li></ul>
  12. 12. Who has the passion? <ul><li>Not the incumbents, </li></ul><ul><li>but those who will be leaders in 10, 20 years! </li></ul>
  13. 13. How do you Build a Top Technology Center? <ul><li>Connect </li></ul>
  14. 14. Connect: FORCE THEM TOGETHER! <ul><li>Bring together all part of the ecosystem: big companies, small companies, different sectors, industry, academia, lawyers, money, CEOs, HR, CTOs, Marketing and on and on… </li></ul><ul><ul><ul><li>Focus on Private Sector </li></ul></ul></ul><ul><ul><ul><li>Get their heads up </li></ul></ul></ul><ul><ul><ul><li>Buy Beer </li></ul></ul></ul>
  15. 15. How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul>
  16. 16. Collaborate: Be a Nexus! <ul><li>Start to find ways to have them work on efforts of self interest and community passion. </li></ul><ul><ul><li>NOT only Events – Constant Hum </li></ul></ul><ul><ul><li>Meet Opportunities with Insight </li></ul></ul><ul><ul><li>Business Development </li></ul></ul><ul><ul><li>Shared Goals </li></ul></ul><ul><ul><li>Start with Small Companies (Grassroots) </li></ul></ul>
  17. 17. How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li></ul>
  18. 18. Communicate: Bullhorn It! <ul><li>Get the word (reality AND opportunity) out to everyone – not just tech cluster </li></ul><ul><ul><li>Business Leaders </li></ul></ul><ul><ul><li>Other Industries </li></ul></ul><ul><ul><li>Government Officials </li></ul></ul><ul><ul><li>Mom / Dad </li></ul></ul>
  19. 19. How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li></ul><ul><li>Collegiate </li></ul>
  20. 20. Collegiate: Open the Ivory Tower <ul><li>Find ways to break down the barriers with Universities </li></ul><ul><ul><li>Figure out what they are doing </li></ul></ul><ul><ul><li>Drive collaboration with Industry – make them work </li></ul></ul><ul><ul><li>Get students involved in companies </li></ul></ul>
  21. 21. How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li></ul><ul><li>Collegiate </li></ul><ul><li>Coerce </li></ul>
  22. 22. Coerce <ul><li>Get Government Officials off the Dime! </li></ul><ul><li>First, get them out of the way </li></ul><ul><li>Second, tell them where to invest </li></ul><ul><li>Third, let your wins be theirs </li></ul>
  23. 23. How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li></ul><ul><li>Collegiate </li></ul><ul><li>Coerce </li></ul><ul><li>Capitalize </li></ul>
  24. 24. Capitalize It: Raid the Piggy Bank <ul><li>Find the Money </li></ul><ul><ul><li>Not Just “VCs” </li></ul></ul><ul><ul><li>Industry Folks </li></ul></ul><ul><ul><li>Successful Entrepreneurs </li></ul></ul><ul><ul><li>Not Primarily Government </li></ul></ul>
  25. 25. How do you Build a Top Technology Center? <ul><li>Connect </li></ul><ul><li>Collaborate </li></ul><ul><li>Communicate </li></ul><ul><li>Collegiate </li></ul><ul><li>Coerce </li></ul><ul><li>Capitalize </li></ul>
  26. 26. Illinois Technology Association By the Numbers <ul><li>5 Years Old (last week) </li></ul><ul><li>Private Sector Driven </li></ul><ul><li>100 to 700 Corporate Members </li></ul><ul><li>$150K to $2M in Revenue </li></ul><ul><li>22K sq ft TechNexus Clubhouse </li></ul><ul><ul><li>40 companies incubated, 2000 executives a month </li></ul></ul><ul><li>200 Connections a Month </li></ul><ul><li>160 Events a Year </li></ul><ul><li>Established a Foundation focused on Talent </li></ul>
  27. 27. <ul><li>Is your region the technology center of the next 25 years? </li></ul>

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