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  1. 1. Innovation-Led EInnovation-L d Economic DevelopmentI ti i D l t (ILED)
  2. 2. Alignment of innovation ssets, and TECH Resources for Innovation-led Companies Innovation- 10 esources, as 201 echnologies s f Second- Second-Stage Companies Sector Initiatives PeerSpectives & Economic Gardening MS Seed Fund Venture Coaching AcademyreteA *MIN WEB-based Training & Communication WEB- New Venture Challenge Promotion & Story telling of *Innovator’s Hall of Fame Awards Gala ages *Discovery Meetings (Breakfast & Lunches) Regional Innovation Coordination tive Advanta Innovation- Innovation-Led Economic Development Training 2005 *Venture Capital Tools *Mississippi Executive Talent Exchange *MS Angel Network nStrategies & platforms Comparat Fast Trac Entrepreneurial Training Regional Technology Councils MS e-Center Incubator e- Innovation Index s *Pointe I *P i t Innovation Magazine ti M i Statewide Technology ToursT-BED and Cluster *Conference on High Technology Community Technology Assessments Additional Cluster Studies & O Additi l Cl t St di Organizations i ti 1998 Michael Porter CIT Cluster Study & Cluster Organization Mississippi Science & Technology Action Plan Learning Telling *Doing Collaborating
  3. 3. Regional Innovation Clusters (RIC)Government Geospatial CIT.msAcademia Polymer/Plastics Biomass/BiotechPrivate Sector/Non Sector/Non- AutomotiveProfits Defense/Aerospace
  4. 4. Innovation IndexPer capita Income pNumber of Tech Employees/CompaniesBusiness BirthsAngel C it l InvestedA l Capital I t dCapital Invested in New or ExpandingCompanies
  5. 5. INNOVATION- INNOVATION-LED ECONOMIC DEVELOPMENT (ILED) “Economic development activities toCREATE RETAIN EXPAND ATTRACT or REATE, ETAIN, XPAND, TTRACT,TRANSFORM ENTERPRISES that produce highly innovative new products, productsprocesses, materials, designs, know-how know- or business strategies.” © MTA 2011 strategies
  6. 6. Pathway for yInnovation-Innovation-Led Economic Development Innovation- led Innovation- I ti Communities C iti led Jobs Innovation- led Enterprises
  7. 7. Five Critical Factors for Innovation- Innovation-Led Economic Development1. Innovation Culture or risk taking2.2 Technology Resource access3. Entrepreneurship support organizations4. Capital (equity & debt) access5.5 Human Capital Availability (quality management, workforce, intrapreneurship) Council for Entrepreneurial Development
  8. 8. Mississippi TECH AllianceTechnology/InnovationEntrepreneurshipCapitalHuman Resources
  9. 9. MTA TECH-BASED Services TECH- Technology/Innovation Capital MEP ms  Angel Capital Strategic Biomass Network Solutions  MS Seed Fund Federal/University  SBIR/STTR Tech Transfer Program Entrepreneurship Human Resources Venture  MS Xecutive Talent Development Xchange (MXTX) New Venture  Workforce Challenge Investment ESP & Mentors Network N t k
  10. 10. TECH-BASED Networks TECH-Business Assistance Regional Innovation Clusters Fast Trac Tech Venture Training Facilitators MBA Student Teams (MSU, Millsaps, Ole Miss) MDA Existing Business & Industry Minorities, Students, & Women programs Mississippi Incubator Network pp Mississippi SBDC MyBiz AM Network
  11. 11. TECH-BASED Networks TECH-Social Networks Economic Discovery Development Luncheons  Innovation-led Regional ILED Economic Councils Development Conference on Training High Technology Hi h T h l  Community C Innovators Hall of Resources Fame Gala Assessments Pointe Innovation  MDA/Mississippi Magazine Economic Development Council
  12. 12. MTAActivitiesState-wideRegionalizedEncompassing allE i llservices-  Technology gy  Entrepreneurship  Capital  Human Resources
  13. 13. Networks drive Innovation-Led Innovation- Emerging  Economic Development technology  discovery lunches,  discovery lunches Technology support for  Councils innovative  i E k ! companies, Eureka! Entrepreneur Networks Monthly meetings  Capital of service providers  Coalitions Monthly meetings of  hl f and  Capital Coalitions and p entrepreneurs q quarterly meetings of y gfor training/webinars Angel investor groups. 
  14. 14. Regional ILEDNetworksN t k
  15. 15. Regional TECH Councils Form of governance ILED Training Strategic Plan Technology Discovery Entrepreneurship Training/Assistance Capital Network Human Capital
  16. 16. Regional ILED Networks Network of Networks Regional Innovation Clusters Cl t TECH Councils Incubators Network Angel Capital Network
  17. 17. Lessons LearnedTECH Councils (Not sustainable, sustainableunless…)$$ for TECH ((causes thi tto h things happen) )ILED Training is important (ecosystem)Regional Organizations (Need to g gpartner with ILED change agents)Listen & Learn (continuous improvement)
  18. 18. Contact Us:Mississippi Technology AllianceBubba Weir, Vice President forInnovation Resources Development134 Market Ridge DriveRidgeland, MississippiRid l d Mi i i i