STI Sequences, Innovation Networks, and Accelerators
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Modeling, measuring and visualizing innovation as sequences of connected activities and networks of connected actors
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STI Sequences, Innovation Networks, and Accelerators
- 1. STI Sequences, Innovation Networks, and Accelerators Modeling, measuring and visualizing innovation as sequences of connected activities and networks of connected actors C. Scott Dempwolf, PhD Assistant Research Professor & Director July 7, 2015 UMD – Morgan State Joint Center for Economic Development
- 2. What is network analysis? Network analysis models, measures and visualizes systems of human interaction in ways that include specific nodes (people, organizations, places, documents, industries, etc.) and specific ties (relationships between nodes). York County, PA industries and occupations 2008 with sales and employment flows Military armored vehicle manufacturing Motorcycle manufacturing Snack food manufacturing Printing Air conditioner manufacturing Motor vehicle parts manufacturing Production
- 3. Innovation as a sequence of activities Research Question What are the sequences of STI and commercialization activities involved in developing new ideas through basic research and translating them into new products or services in the marketplace? Pending NSF application with UMIACS Professor Ben Shneiderman EventFlow Screenshot Innovation is a process comprised of a sequence of activities leading to a new product in the marketplace Research Publication Invention Proof-of-Concept Commercialization Product
- 4. Seeing innovation activities as networks Each source document generates an activity network Data Sources Activity Type Activity Networks Funding Agency Research Institution PI / Inventor PlaceCompany Commercializatio n docs Research Publication Invention Proof-of-Concept Commercialization Product NIH NSF NASA StarMetrics Citations Bibliometrics Patents Copyrights (future) SBIR / STTR Phase 1 Accelerators Web SBIR / STTR Phase 2 CrunchBase Trademarks UPC / SKU SBIR / STTR Web Product doc Commercializatio n docs Commercialization Docs Commercializ ation docs Commercializ ation docs POC Docs Commerciali zation docs Commerciali zation docs Patent Docs Commercializ ation docs Commercializ ation docs Publication Docs Commercializ ation docs Commercializ ation docs Research Grant Docs $$ Document Ties
- 5. Seeing innovation activities as networks Combining activity networks yields an innovation process network Document Ties Innovation Process Network Activity Networks Funding Agency Research Institution PI / Inventor PlaceCompany Commercializatio n docs Product doc Commercializatio n docs Commercialization Docs Commercializ ation docs Commercializ ation docs POC Docs Commerciali zation docs Commerciali zation docs Patent Docs Commercializ ation docs Commercializ ation docs Publication Docs Commercializ ation docs Commercializ ation docs Research Grant Docs $$ Patent New Product Journal Publication Prototype
- 6. Emerging Theory and Research Illinois Battery Cluster 2010 - 2014 There are two main components of the innovation network… • A Research component comprised mostly of researchers and research institutions • An Industry component comprised mostly of investors, serial entrepreneurs, and supporting infrastructure for commercialization … and a “Bridge” connecting them; the bridge includes accelerators, POC centers, TTO’s, etc. and their connections to brokers in each component.
- 7. The Innovation Ecosystem and the Valley of Death Adapted from Jackson, 2011 This is a network representations of the two sides of the so-called valley of death
- 8. Accelerators as Bridge Structures • Accelerators and specifically founders are brokers • Their social capital is more valuable to startups than the money invested • That social capital is limited to specific markets, technologies and investors where they have experience and relationships • The accelerator environment is designed to create and recreate social capital in three networks: cohort, capital and market Accelerator founder and venture capital / market network Accelerator and startup cohort network
- 9. Accelerators as Bridge Structures Visualizing CrunchBase Data 77 accelerators and random sample of 77 angel investors not affiliated with an accelerator, and their networks When clustered, many accelerators emerged as central nodes while only a few unaffiliated angels were central The accelerator subnetwork was 8.5 times larger than the unaffiliated angel network and exhibited more opportunity for brokerage Accelerators invested 33% less per startup in angel funding ($100K vs $150K) and 50% less overall ($1.3B vs 2.6B) than unaffiliated angels. Combined their startups raised an additional $41B in subsequent funding rounds and acquisitions Data source: https://www.crunchbase.com/
- 10. Emerging Theory and Research (working hypothesis) Bridging structures (accelerators, TTO’s and inter-mediaries) between the two components are sparse and vary by technology and geographic region Regions with denser, more connected bridging components will be characterized by faster innovation sequences and more innovation sequences leading to new products. Illinois Battery Cluster 2010 - 2014
- 11. TWO MORE SLIDES WITH INTERESTING NETWORK IMAGES…
- 12. Accelerators: A Network Perspective Visualizing Global Capital Flows Specific places are recognized as national and global hubs for innovation. These places both attract more capital investment and in turn make more investments both locally and globally Venture capital is clearly sticky in well known places – the SF Bay area, Boston / Cambridge, New York, Chicago, London, LA… Data source: https://www.crunchbase.com/
- 13. Why networks & technology matter • Startups need to be seeded into strong clusters • Clusters have strong connections to markets, supply chains and talent pools • Clusters form around technologies • Capital flows around technologies
- 14. Policy Considerations • Networking & social capital are central components; relationships are essential • Networks are specific and unique to the technology field • Current successful accelerators are built around technologies with relatively low cost entry; short prototyping timeframe; high scalability; low geographic & supply chain constraints • Accelerators are in the business of picking (probable) winners
Editor's Notes
- About me Founder and Chief Technology Officer, Tertius Analytics C. Scott Dempwolf is an Assistant Professor in the Urban Studies and Planning Program at the University of Maryland, directs an EDA-funded University Center and teaches a planning studio. His research and publications examine relationships between innovation, economic development and industrial land use. Scott returned to academia after 20+ years of community and economic development practice, earning his PhD in Urban Planning at UMD; a Masters from Temple and a Bachelor’s from MIT.
- Some familiar examples include manufacturing supply chains, or the input-output table or transaction table that shows flows between industries.
- Innovation is a process comprised of a sequence of activities This sequence includes research, publication, invention, proof-of-concept, and commercialization leading to a new product in the marketplace Current research (NSF pending) models and analyzes these sequences using new EventFlow software to provide first-ever statistical analysis of +/- 5,000 innovation sequences What are the most common sequence patterns? How many activities are involved? How long do they take? Do sequences and their characteristics vary by technology focus or geographic region? How many and which activities get public funding, and how much? Are there correlations between the characteristics of public funding and sequence outcomes? Are there gaps or lags in the sequence patterns? If so, where in the sequence and how long do they last?
- Each activity in an innovation sequence has an activity network associated with it – the network of people and organizations involved in funding and completing the activity People and organizations in activity networks are also connected to place nodes (place of residence, place of work or establishment location) at the time of the activity People and organizations may also be connected to document nodes through publication authorship People and organizations may be connected indirectly (weak ties) based on, for example, similarities in the technologies that they are working on
- Activities in an innovation sequence are connected by citations (backward linkages) Activities may also be indirectly connected (weak ties) through shared people or organizational nodes Aggregating the activity networks for all the activities in an innovation sequence produces an innovation process network Activity networks and innovation process networks are embedded in and drawn from a larger innovation network
- Activity networks vary based on the type of activity – the people and organizations involved in research and development activities tend to be different from those involved in commercialization activities
- Adding the investment dimension
- This slide was originally presented at the Industry Studies Association Conference in May, 2014.
- This slide was originally presented at the Industry Studies Association Conference in May, 2014. It does not represent the “two main components” but rather just shows the commercialization components represented in the CrunchBase data.
- Activity networks vary based on the type of activity – the people and organizations involved in research and development activities tend to be different from those involved in commercialization activities