Robby Mulcahy’s Post

"In October 2023, the U.S. Economic Development Administration selected 31 ✨ #TechHubs ✨ designees from a pool of 379 applications, making them eligible for multi-year implementation awards. Now, the #EDA has provided implementation grants of between $19 million and $51 million to 12 consortia to execute their locally developed plans for achieving global economic prominence in a key industry within 10 years. Those funds will support focused cluster strategies, accelerate commercial scale-up, and develop the workforce of the future, all while achieving key national goals, such as securing America’s national security, strengthening its supply chain resilience, and improving #economic inclusion. As such, the new 🎉 awards stand out as especially prominent elements of the nation’s ongoing, multi-program drive in recent years to boost national economic development by leveraging what we call 'place-based industrial policy,' the idea that intentional efforts to unlock growth in new places represents a plausible strategy for boosting the nation’s technological advantages, global competitiveness, and #nationalsecurity. Given all of this, then, it is worth pausing to consider this week’s announcement and take a brief look at the nature of the awards (and the winning consortium organizers) as well as what’s next for the program. Here are three initial takeaways." 🔎 Read on! Mark Muro, Joe Parilla and Francesca Ioffreda for The Brookings Institution

For most locations, understanding their #innovation systems means looking "beyond #innovation #hotspots" and their traditional structures. These "real places", as Dan (Danny) Breznitz called them, pursue innovation and entrepreneurship with often limited academic capacity, modest levels of risk capital, and few networks of established founders. And still, innovation is an important driver of their value creation and growth. In our new edited book, my colleagues Matthias Kiese, Rasmus C. Beck, Dirk Fornahl, and I have collected a number of papers that take a closer look at such locations. One set of contributions looks at different types of regional economies beyond innovation hotspots and the role that #clusters play as sources of innovation. Another set of contributions looks at the institutional architecture, from #cluster initiatives to others, that enable collaboration for innovation. We hope this book will stimulate further discussion on how to understand and drive the development of "real regions". Thank you to the contributors Mads Bruun Ingstrup, Arnault Morisson, Heike Mayer, Deyan Radev, PhD, Georgi Penev, Hansjörg Drewello, Dr. Nina Kulawik, Dmitri Domanski, Prof. Dr. Julia Frohne, Jörg Weingarten, Bolette van Ingen Bro, Merete Daniel Nielsen, and Murat Akpinar. And a special thank you to Matthias Kiese for steering our editorial team and the interaction with with focus and patience! A good experience of working with the team at Edward Elgar Publishing!

How can we create change? As an organization, the Science Center is focused on closing the gaps in the innovation economy – and our Theory of Change explains how we plan to do that. Our roadmap➡️ Written by Tracy Brala

In recent years, place-based innovation has attracted renewed interest of policymakers and major new funding, including over $80 billion in federal support for historically overlooked regions. As both urban and rural regions organize to implement new technology cluster initiatives with once-in-a-generation funding, attention is also turning to measuring impacts and outcomes. Traditional metrics of counting patents, students graduating from training programs, and startup companies founded may be useful, but how do we forge consensus on long-term outcomes that matter for communities and society? Join a panel of economists and other social scientists to learn about new ways of advancing sustained and sustainable growth - using tech, but going beyond the "Silicon Valley of xyz" mantra. Register here: https://lnkd.in/e-VaiM9q Panelists include: Maryann Feldman; Thomas Guevara; Isaac McCoy; Mahmud Farooque; Fallon W.; Dave Kaiser

I would add one word to Michael Crow’s comment: "What have we learned over the past 40 years about how to generate sustained and SUSTAINABLE economic growth through scientific research and technological innovation?"

Discover why innovation districts are becoming the cornerstone of progress and problem-solving.   Our analysis of 23 innovation districts across ten countries highlights their transformative potential in tackling urgent societal challenges—from combating climate change and curbing infectious diseases to boosting workforce development and minority entrepreneurship. Here's why innovation districts are crucial: ▲ Cross-disciplinary impact: By bringing together diverse scientific disciplines, innovation districts produce high-impact research that drives new practices and products with significant commercial and public value. ▲ Growth multipliers: When designed with intention and supported by committed leaders, the clustering of companies, small firms, and institutions in these districts can amplify growth, attracting and retaining knowledge-intensive businesses that fuel economic expansion. ▲ Pathways to inclusion: Innovation districts create new pathways for economic access, including skills development and holistic “cradle-to-career” inclusion initiatives, paving the way for greater opportunity and equity. ▲ Job creation and economic boost: Evidence shows that mature districts like the Cortex Innovation Community and Innovation Quarter not only generate new jobs and companies but also enhance local economies and strengthen the regional tax base. ▲ Decarbonization solutions: These districts are also leading the way in developing new energy sources and climate mitigation strategies, advancing our global sustainability goals. Want to dive deeper into how innovation districts are shaping our world? Read the full article by Julie Wagner, Bruce Katz, and Laura Biancuzzo here: https://lnkd.in/dhX9iY4u #InnovationDistricts #EconomicGrowth #SustainableDevelopment #FutureOfWork

University-based research & associated innovation can drive regional economic growth. Boston & San Diego are two examples of regional life science ecosystems that have thrived, albeit after many years of intentional & coordinated effort. Here's a summary of some components for regional university-based economic growth: - Dynamic R&D capacity, usually in the form of one or more R1 universities, high-output non-profit research institutes, or industry labs. Institutions that take advantage of the full spectrum of federal funding opportunities, from National Science Foundation (NSF) I-Corps to SBIR/STTR to NSF ART & Engines, by cycling companies from one funding opportunity to the next are the ones that can build strong innovation ecosystems. Further, having strong, industry-facing tech transfer offices & corporate relations offices can augment innovations spinning out of universities and institutes. - Deep pools of talent feeding the regional economy industries. Talent pools can be tapped with student affairs/career services offices at community colleges & universities. - Innovation hub(s) that facilitate knowledge spillovers and collaborations between researchers, industry partners, & entrepreneurs. Innovation hubs can include university research parks & zoned innovation districts, but many life science cluster studies (indeed all the way back to Michael Porter agglomeration theory) repeatedly demonstrate the importance of proximity & colocalization to success of ecosystems. In life sciences, the proximity of wet lab space to research institutions is paramount. - Robust venture capital capacity & healthy entrepreneurial ecosystem. I argue that APPROPRIATE venture capital as relevant to the regional industries is key. VC support in the energy sector is vastly different from funding support in the life sciences. Further, having healthy entrepreneurial ecosystems attract industry presence & add to regional capacity. - Financial & policy support from state and local governments. Advocacy organizations such as MassBio and Connect are critical pieces of the puzzle because they can garner/solicit support from government & industry, convene ecosystem leaders (including from expertise from academia, industry, and government), & champion coordinated regional collaboration. - I believe one missing piece in the article is that of regional developers, like The University Financing Foundation, Inc. (TUFF) & Alexandria Real Estate Equities, Inc., as a critical advisory component of competitive ecosystems. Learning & extrapolating from the success of Boston and San Diego, can demonstrate that while each ecosystem has its own competitive advantages, there are common ingredients necessary for success. Mark Nolan Rebecca Robinson Brian Darmody Supriya Sinha, PhD John Fritz, M.B.A., M.S., M.H.A. Mary McCafferty Joyce Burch JoonHyung Cho Keith Marmer Carol Stewart Thyaga Nandagopal

Excellent article! "Regional growth requires a deliberate blend of ideas, talent, placemaking, partnerships, and investment. It calls for: 1. Dynamic research and development capacity, usually provided by research universities or federal, nonprofit, or industry research labs, to continuously foster discovery and development of new knowledge and concepts. 2. A large and diverse talent pool with expertise and experience relevant to the industrial sectors in the region. 3. A physical place or an innovation hub is needed to foster dynamic interactions and collaborations among academic researchers, industry partners, entrepreneurs, and community leaders. 4. Financial and policy support from state and local governments is critical to direct resources and remove barriers. 5. A growing regional economy that has robust venture capital capacity and a healthy entrepreneurial ecosystem."

What #middle-#income #countries can #learn from #America’s #innovation #system by— UFUK AKCIGIT & SOMIK LALL AUGUST 19, 2024 The American model of innovation has long been the envy of the world. From the garage tinkerers of #Silicon #Valley to the #research #labs of prestigious universities, the #UnitedStates has consistently churned out groundbreaking #technologies that have reshaped industries and transformed lives. Today, the United States leads the world in the number of patents produced per person—as well as the importance of these patents. Middle-income countries looking to attain high-income status often draw inspiration from the American model. In the latest World Development Report(https://lnkd.in/griTtRKf), we highlight three lessons from the American innovation model that can be helpful for middle-income countries. ▪️First, think big: innovation today is dominated not by garage tinkerers but by large, established firms. ▪️Second, attract and nurture talent—wherever it can be found. ▪️Third, build a market for diffusing innovation. [#Published on Let's Talk Development] #SiliconValley blogs.worldbank.org #Details— https://lnkd.in/g6zAM-q3

"Before Silicon Valley became a byword for innovation, Route 128, outside of Boston, was America's technology highway, connecting the country’s premier technology companies and research facilities. However, this first American high-tech cluster likely would not have developed as it did without one of the biggest shocks to federal R&D funding in US economic history. In a paper in the American Economic Review, authors Daniel P. Gross and Bhaven N. Sampat explain how a World War II research effort jump-started innovation hubs like Route 128 across the United States. Gross and Sampat recently spoke with Tyler Smith about the history of R&D funding in the United States, and the lessons policymakers can take from it." https://lnkd.in/g2xYdWAk