REGIONAL INNOVATION NATIONAL PROSPERITY Presented by Charles J. Brown III HRQMC Regional Agenda.
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Transcript of REGIONAL INNOVATION NATIONAL PROSPERITY Presented by Charles J. Brown III HRQMC Regional Agenda.
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REGIONAL INNOVATIONNATIONAL PROSPERITY
Presented by Charles J. Brown IIIHRQMC Regional Agenda
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The Challenge Large industrial operations or headquarters
Tax incentives Inexpensive labor
Production shifted elsewhere Intellectual Capital (Knowledge)
Quality of employees Reputation of a brand Skills and knowledge about how to make goods or
services Success critical individuals or groups Aggregation of information of value that is not common
knowledge
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The Challenge
Economic development strategies Incentive-based strategies
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The Answer: Innovation
The nature of Innovation is changing Faster Multidisciplinary Collaborative Democratized Global
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The Risk
50% of all U.S. patents are foreign Japan, Korea, and Taiwan are 25% of that
Sweden, Finland, Israel, Japan, and S Korea each invest more in R&D to GDP than U.S.
2004 China became world leader of exporting ICT e.g., Mobile phones, laptops, digital cameras
6 of the 25 leading IT companies are in the U.S.
14 are based in Asia
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The Conclusion
“The capacity for innovation is going global — and we must pick up the pace … today, the forces of global economic integration and advances in technology are creating a different and more complex challenge. Sustaining competitive advantage will require moving beyond efficiency and quality toward creating new markets, increasing choice and value to customers, and innovating continuously on a global basis.”
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The Paradox: The Region
Proximity Contact
Suppliers Customers Industry Academia
Industry clusters Diversification and Differentiation
Diverse people, land, services, etc. Specialized infrastructure educational
institutions, and workforces
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The Five Common Challenges
Promoting regionalism Building and retaining talent Transitioning to advanced manufacturing Networking knowledge assets Energizing the entrepreneurial economy
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Innovation-based Regional Economic Development Model
Innovation
Productivity
Prosperity
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Measuring Regional Innovation
Key objectives for the Regional Innovation Initiative Improving awareness among federal, state,
and local stakeholders of the conditions necessary to promote innovation-based economic development
Catalyzing consensus on policy priorities and practices to strengthen the regional platforms for innovation
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Measuring Regional Innovation
Key objectives for the Regional Innovation Initiative Supporting a forum for business, academia,
government, and supporting organizations to build partnerships by sharing new ideas and best practices;
Providing tools and techniques that allow states and regions to inventory, evaluate and benchmark their innovation capacity
Accelerating implementation of local economic development initiatives
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Measuring Regional Innovation
Review of Previous Data Comparative Data Analysis Regional Business Survey Community Leadership Interviews
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Inputs to Innovation Capacity
Assets Human Capital Research and Development Institutions Financial Capital Industrial Base Physical Infrastructure Legal and Regulatory Environment Quality of Life
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Inputs to Innovation Capacity
Networks Collaborative economic development
partnerships Angel capital networks Research partnering
Universities Businesses Workforce development programs
Informal networks City sports leagues University alumni associations
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Inputs to Innovation Capacity
Culture Collaborating and sharing with competitors Attitude toward risk Appreciation of diverse experiences and
background
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Regional Innovation Environment
Innovation Productivity ProsperityCulture
Networks
Assets
Regional Innovation
Environment
Outputs
Inputs
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Websites
www.HRQMC.org www.compete.org
www.compete.org/publications/idea/7/regional-innovation Regional Innovation National Prosperity Measuring Regional Innovation