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NJ Future Forum 2012 Industry Clusters Sebastian

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Description of the origin, nature and characteristics of industry clustering, with focus on the history of industry clustering in New Jersey

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NJ Future Forum 2012 Industry Clusters Sebastian

  1. 1. Identifying and TargetingIndustry Clusters Donald H. Sebastian, Senior Vice President, Research & Development, New Jersey Institute of Technology (Moderator) Jay C. Biggins, Executive Managing Director, Biggins Lacy Shapiro & Co. Tracye McDaniel, President and Chief Executive Officer, Choose New Jersey Dean J. Paranicas, President and Chief Executive Officer, HealthCare Institute of New Jersey Identifying and Targeting Industry Clusters
  2. 2. Clusters of InnovationA cluster, as defined byProfessor Michael E.Porter of HarvardUniversity, is a geographicconcentration ofcompeting andcooperatingcompanies, suppliers, service providers, andassociated institutions. Identifying and Targeting Industry Clusters
  3. 3. Crucible of US Industry D. Sarnoff T. Edison A. BellJohnson Brothers J. RockefellerJ. Campbell G.W. Merck L. Baekeland Identifying and Targeting Industry Clusters
  4. 4. Cluster Growth ModelsHollowing Out: Companies, recognizing the importance to their own innovation processes, reach progressively farther afield and eventually relocate these activities and perhaps ultimately all of their operations out of the region altogether.Sustained Growth: Companies boost their innovation performance by strengthening ties with local firms, research and educational institutions. The local economy emerges as a center of new knowledge creation and application, attracting firms from elsewhere, and stimulating the formation of new local businesses. Identifying and Targeting Industry Clusters
  5. 5. Building a Cluster Transplant Diversify Existing Technologically Industry Consumer Electronics Opto-electronicsWorkforce Skill Taipei-Hsinchu,TW Rochester, NY Automobiles Advanced Elastomers Greenville, SC Akron, OH Upgrade Mature Create a New “UNIVERSITIES, Industry Industry INNOVATION, AND THE Industrial Machinery Microprocessors COMPETITIVENESS Tampere, FINN Silicon Valley, CA OF LOCAL Ceramics Wireless ECONOMIES: A Summary Report from Alfred-Corning, NY Helsinki, FINN the Local Innovation Systems Project— Phase I”, Richard K. Innovation Lester, Industrial Performance Center, MIT Identifying and Targeting Industry Clusters
  6. 6. Regional Innovation Clusters People Tech Cluster Firms Cluster Firms Cluster Firms Technology Talent Tech People Identifying and Targeting Industry Clusters

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