STI Sequences, Innovation Networks, and Accelerators
-
Upload
scott-dempwolf -
Category
Technology
-
view
36 -
download
2
Transcript of STI Sequences, Innovation Networks, and Accelerators
STI Sequences, Innovation Networks, and Accelerators
Modeling, measuring and visualizing innovation as sequences of connected activities and networks of
connected actors
C. Scott Dempwolf, PhDAssistant Research Professor& Director
July 7, 2015
UMD – Morgan State JointCenter for Economic Development
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 armoredvehicle manufacturing
Motorcycle manufacturing
Snack food manufacturing
Printing
Air conditioner manufacturing
Motor vehicle parts manufacturing
Production
Innovation as a sequence of activities
Research QuestionWhat 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
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
Commercialization docs
Research Publication Invention Proof-of-Concept Commercialization Product
NIHNSF
NASAStarMetrics
CitationsBibliometrics
PatentsCopyrights (future)
SBIR / STTR Phase 1
AcceleratorsWeb
SBIR / STTR Phase 2
CrunchBase
TrademarksUPC / SKUSBIR / STTR
Web
Product docCommercializatio
n docsCommercialization
DocsCommercializ
ation docsCommercializ
ation docsPOC Docs
Commercialization docs
Commercialization docs
Patent DocsCommercializ
ation docsCommercializ
ation docsPublication
DocsCommercializ
ation docsCommercializ
ation docsResearch
Grant Docs
$$
Document Ties
Seeing innovation activities as networks
Combining activity networks yields an innovation process network
Document Ties
Innovation Process Network
Activity Networks
Funding Agency
Research Institution
PI / Inventor PlaceCompany
Commercialization docs
Product docCommercializatio
n docsCommercialization
DocsCommercializ
ation docsCommercializ
ation docsPOC Docs
Commercialization docs
Commercialization docs
Patent DocsCommercializ
ation docsCommercializ
ation docsPublication
DocsCommercializ
ation docsCommercializ
ation docsResearch
Grant Docs
$$
Patent
New Product
JournalPublication
Prototype
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.
The Innovation Ecosystemand the Valley of Death
Adapted from Jackson, 2011
This is a network representations of the two sides of the so-called valley of death
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
Accelerators as Bridge Structures
Visualizing CrunchBase Data77 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/
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
TWO MORE SLIDES WITH INTERESTING NETWORK IMAGES…
Accelerators: A Network Perspective
Visualizing Global Capital FlowsSpecific 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/
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
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