The Next American Economy - Connecticut

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Connecticut’s Economic Strategy & Education’s Role

Presentation for the Connecticut Academy of Science and Engineering’s Workforce Alignment Study Committee

Published in: Business, Economy & Finance
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The Next American Economy - Connecticut

  1. 1. BLUEPRINT FOR A REAL RECOVERY THE NEXT Connecticut’s Economic StrategyAMERICAN & Education’s RoleECONOMY Presentation for the Connecticut Academy of Science and Engineering’s Workforce Alignment Study Committee March 14, 2012 AUTHOR OF WHY GM MATTERSWILLIAM J. HOLSTEIN WilliamJHolstein.com
  2. 2. WHAT IS AN IDEA FACTORY?
  3. 3. WHAT IS AN IDEA FACTORY? It can be a university, research institute, large hospital, national weapons laboratory or a large private sector company. WilliamJHolstein.com
  4. 4. WHAT IS AN IDEA FACTORY? It is characterized by: ‣ Sustained Interactions ‣ Both Formal and Informal Between: ‣ Different disciplines ‣ Different cultures, nationalities With A Mix of Basic and Applied Research. Mostly Funded by Government and Corporations. WilliamJHolstein.com
  5. 5. HOW DO IDEAS LEAVE THE FACTORY?
  6. 6. HOW DO IDEAS LEAVE THE FACTORY? The key is the technology licensing and patenting office. ‣ Under what terms does theterms? allow development on favorable office ‣ Does it facilitate robust exchange of ideas between "inside" and "outside?" ‣ What resources does it possess? WilliamJHolstein.com
  7. 7. COMMERCIALIZATION ECOSYSTEM:5 STAGES
  8. 8. STAGE 1 START UPSETTINGUNIVERSITYFINANCINGGOV’TANGELSFOUNDATIONSTEAMSCIENTISTS &RESEARCHERSONLY WilliamJHolstein.com
  9. 9. STAGE 1 STAGE 2 START UP DEVELOPMENTSETTINGUNIVERSITY INCUBATOR / HALFWAY HOUSEFINANCINGGOV’T GOV’T (SBA)ANGELSFOUNDATIONS LARGE CO’STEAMSCIENTISTS & TEAM GROWS:RESEARCHERS - MARKETINGONLY - FINANCE OTHER KEY INPUTS: - MENTORING - PEER NETWORKING - SKILLED LABOR - NETWORKING MECHANISMS WilliamJHolstein.com
  10. 10. STAGE 1 STAGE 2 STAGE 3 START UP DEVELOPMENT MARKET FACINGSETTINGUNIVERSITY INCUBATOR OFFICE / HALFWAY HOUSEFINANCINGGOV’T GOV’T (SBA)ANGELS VENTUREFOUNDATIONS CAPITALISTS LARGE CO’STEAMSCIENTISTS & TEAM GROWS: PROFESSIONALRESEARCHERS - MARKETING CEO MAY BEONLY - FINANCE REQUIRED OTHER KEY INPUTS: - MENTORING - PEER NETWORKING - SKILLED LABOR - NETWORKING MECHANISMS WilliamJHolstein.com
  11. 11. STAGE 1 STAGE 2 STAGE 3 STAGE 4 START UP DEVELOPMENT MARKET VALLEY OF FACING DEATHSETTINGUNIVERSITY INCUBATOR OFFICE / HALFWAY HOUSEFINANCINGGOV’T GOV’T (SBA)ANGELS VENTUREFOUNDATIONS CAPITALISTS LARGE CO’STEAMSCIENTISTS & TEAM GROWS: PROFESSIONAL CEO + FULLRESEARCHERS - MARKETING CEO MAY BE FINANCIALONLY - FINANCE REQUIRED TEAM - MANUF. OTHER KEY INPUTS: - LOGISTICS - MENTORING - SALES - INCUBATORS - PEER NETWORKING - NETWORKING MECHANISMS WilliamJHolstein.com
  12. 12. STAGE 1 STAGE 2 STAGE 3 STAGE 4 STAGE 5 MARKET FULL VALLEY OF COMMERCIALIZ- START UP DEVELOPMENT FACING DEATH ATIONSETTINGUNIVERSITY INCUBATOR OFFICE / HALFWAY HOUSEFINANCINGGOV’T GOV’T (SBA)ANGELS VENTUREFOUNDATIONS CAPITALISTS LARGE CO’STEAMSCIENTISTS & TEAM GROWS: PROFESSIONAL CEO + FULLRESEARCHERS - MARKETING CEO MAY BE FINANCIALONLY - FINANCE REQUIRED TEAM - MANUF. OTHER KEY INPUTS: - LOGISTICS - MENTORING - SALES - INCUBATORS - PEER NETWORKING - NETWORKING MECHANISMS WilliamJHolstein.com
  13. 13. STAGE 1 STAGE 2 STAGE 3 STAGE 4 STAGE 5 MARKET FULL VALLEY OF COMMERCIALIZ- START UP DEVELOPMENT FACING DEATH ATIONSETTINGUNIVERSITY INCUBATOR OFFICE ?? / HALFWAY S? HOUSE APFINANCINGGOV’TANGELS GOV’T (SBA) T VENTURE HE G REFOUNDATIONS CAPITALISTS EA LARGE CO’S HTEAM W ERSCIENTISTS & TEAM GROWS:RESEARCHERS - MARKETING PROFESSIONAL CEO + FULL CEO MAY BE FINANCIALONLY - FINANCE REQUIRED TEAM - MANUF. OTHER KEY INPUTS: - LOGISTICS - MENTORING - SALES - INCUBATORS - PEER NETWORKING - NETWORKING MECHANISMS WilliamJHolstein.com
  14. 14. STAGE 1 STAGE 2 STAGE 3 STAGE 4 STAGE 5 MARKET FULL VALLEY OF COMMERCIALIZ- START UP DEVELOPMENT FACING DEATH ATIONSETTINGUNIVERSITY INCUBATOR OFFICE HE / HALFWAY T HOUSE REFINANCINGGOV’TANGELS H EREA GOV’T (SBA) ?? VENTURE W S?FOUNDATIONS AP CAPITALISTS RL LARGE CO’S VETEAMONLY OSCIENTISTS & TEAM GROWS:RESEARCHERS - MARKETING - FINANCE PROFESSIONAL CEO + FULL CEO MAY BE FINANCIAL REQUIRED TEAM - MANUF. OTHER KEY INPUTS: - LOGISTICS - MENTORING - SALES - INCUBATORS - PEER NETWORKING - NETWORKING MECHANISMS WilliamJHolstein.com
  15. 15. WHERE ARE THE OVERLAPS If a state or region has too many competing institutions…and too much institutional rigidity… the result is confusion for end-users. Resources are not properly focused…no one program achieves scale. WilliamJHolstein.com
  16. 16. WHERE ARE THE OVERLAPS KEY QUESTIONS: ‣ Do government agencies, politicalcenters and universities, institutes, innovation leaders, the private sector have broad agreement on a strategic direction? ‣ …and who does what? WilliamJHolstein.com
  17. 17. TRAINING / RETRAINING ECOSYSTEM
  18. 18. Companies require specific skills, advise communitycolleges on courses, provide equipment and instructors Workers pay to take appropriate classesCOMMUNITY/TECHNICAL Output COLLEGE SYSTEM Well-trained workers for jobs that exist today and in the future Support from: - Fed / State / Local - Foundations - Student Loans WilliamJHolstein.com
  19. 19. DOES EDUCATION FEED THE CLUSTER?
  20. 20. DOES EDUCATION FEED THE CLUSTER? Currently, local educational institutions are falling short when it comes to providing these industries with a well-trained workforce to fill highly technical roles: ‣ Aerospace ‣ Biotech/medical devices ‣ Sub-marine related technologies from Groton WilliamJHolstein.com
  21. 21. BLUEPRINT FOR A REAL RECOVERY THE NEXTAMERICANECONOMY Available in print and e-reader formats today. AUTHOR OF WHY GM MATTERSWILLIAM J. HOLSTEIN WilliamJHolstein.com

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