Innovation Economics | Building Regional Economies

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A brief overview of how open networks are changing the game in regional economic development. A presentation before the Florida Economic Development Council in June 2011.

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Innovation Economics | Building Regional Economies

  1. 1. Innovation Economics:Harnessing the Power ofOpen NetworksEd MorrisonPurdue Center for Regional DevelopmentJune 24, 2011
  2. 2. Oklahoma City, 1993A basket case
  3. 3. Oklahoma City, 2010A national model
  4. 4. Realities in 1993...
  5. 5. Another clear factGlobalization matters
  6. 6. Networks matter
  7. 7. First rumblings of the Internet Millions of Users 2,000 1,500 1,000 500 0 1995 1998 2001 2004 2007 2010
  8. 8. Clusters matter
  9. 9. OK, Smart guy...How do you buildan innovation economy?How do you develop clusters?
  10. 10. New Ways ofIt comes down Thinkingto this... New Ways of Behaving New Ways of Doing
  11. 11. New Ways ofIt comes down Thinkingto this... New Ways of Behaving New Ways of Doing
  12. 12. The Shanghai PerspectiveDeal with it
  13. 13. Confront your SwitchpointWe have choices to make
  14. 14. Engage the InternetOur first interactive mass medium
  15. 15. Move to a new S curveWealth created by networks
  16. 16. Understand the challengesWe are between two economies
  17. 17. Link assets to createpathways and opportunities
  18. 18. Develop 5 types of networksBuild a balanced portfolio
  19. 19. Find the leverage pointsEverything is connected
  20. 20. Think in new waysNetworks are different
  21. 21. Study networksWelcome to a new world
  22. 22. Molecular biologyLook familiar?
  23. 23. UnderstandOpen SourcesoftwareHow did Linux happen?
  24. 24. Managecomplexitywith simplicityThe world is complex enough
  25. 25. It comes down New Ways ofto this... Thinking New Ways of Behaving New Ways of Doing
  26. 26. Our civic economy is in a ditchProof point: High School Dropouts
  27. 27. Transform our civic economyTo make our entire economy more productive
  28. 28. Create shared valueVital to our productivity
  29. 29. Embrace diversityWhat is the reality of the coffee cup?
  30. 30. Civility is strategicSo we can do complex thinking
  31. 31. Create rules of civilityThere are none, unless we do
  32. 32. Cross invisible fences(They don’t work in global markets...besides they’re for dogs)
  33. 33. Confront your Personal SwitchpointBehave in ways that build trust and mutual respect If your actions inspire others to dream more, learn more, do more and become more, you are a leader John Quincy Adams
  34. 34. It comes down New Ways ofto this... Thinking New Ways of Behaving New Ways of Doing
  35. 35. Why Strategic Doing?Old approaches are too costly, inflexible and difficult to manage
  36. 36. Strategic Doing aligns networkswith “Link and Leverage” Strategies
  37. 37. Powerful experiencesExperiences that connect and move people... Strategic Doing session Kokomo, IN
  38. 38. InnovationThe Nation’s first green manufacturing certification Starting point: 12 people conducting a Strategic Doing session in the basement of the White County courthouse
  39. 39. Cluster activationMilwaukee Water Cluster launched a strategic agenda
  40. 40. SpeedMilwaukee Water Cluster 3 months after launch session
  41. 41. Strategic Doing accelerates trustBy moving people to action quickly
  42. 42. A core team leads the clusterThe team commits to principles of open innovation
  43. 43. Core TeamPrivately led with civicsupportCommitment tocollaborative innovation(creating shared value)Rules on informationsharing, confidentiality,governance emerge
  44. 44. Higher education anchorsColleges and universities can anchor the cluster
  45. 45. Others align to the clusterDevelopment organizations align to advance the strategy agenda
  46. 46. Build strategy portfoliosFive types of networks support a cluster
  47. 47. Place-basedinnovationUse the same strategymap
  48. 48. Charleston Digital CorridorPlace-based innovation
  49. 49. 21 million jobsneeded to return to full employmentby 2020Source: McKinsey Global Institute
  50. 50. OK, Smart guy... New Ways ofHow do you buildan innovation economy? Thinking New Ways of Behaving New Ways of Doing
  51. 51. OK, Smart guy... New Ways ofHow do you buildan innovation economy? Thinking New Ways of Behaving New Ways of Doing
  52. 52. Small Business Vitality RankingsWe can transform 1. Austin 2. Oklahoma City 3. Charleston, SC Source: Business Journal Digital Network April 11, 2011
  53. 53. Strategic DoingAccelerating solutions through civic collaboration
  54. 54. Coming Fall 2011Purdue Strategic Doing Professional Certification
  55. 55. Get ConnectedPurdue Center for Regional Development
  56. 56. Thank you!Ed Morrison

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