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5 Fostering Regional Technology Development and Entrepreneurship
Pages 31-42

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From page 31...
... Department of Health and Human Services, gave his perspectives on policy making at the state and national levels. CREATING REGIONAL INNOVATION ENVIRONMENTS San Diego offers a superb example of what regions can do when they pull together the right ingredients, said Duane Roth, in his keynote address at the conference.
From page 32...
... The col laboration culture is what San Diego became known for." Spearheaded by leaders at the companies Qualcomm and Hybritech, the University of California, San Diego, and the San Diego Regional Economic Development Corporation, CONNECT has had incredible success over the past quarter century, according to Roth. It has helped start 2,000 companies, has generated about $10 billion in follow-on funding, and has played a role in creating about 150,000 jobs in the region.
From page 33...
... Today the San Diego region has more than 250 defense and security companies; more than 3,000 information technology, wireless, and software companies; more than 600 life sciences and biomedical companies; more than 700 energy and environmental companies; and more than 600 sport innovator companies.1 Together, technology companies employ more than 140,000 people in San Diego, with average tech salaries well above the overall average for the region. Furthermore, new industries such as "information dominance" (defense applications of information technology)
From page 34...
... That leaves the companies free to develop the innovations on which future prosperity will be built. Discussion In response to a question about manufacturing during the discussion period, Roth described the advantages of manufacturing products in the United States rather than in another country.
From page 35...
... As a product like Lipitor moved from discovery biology through optimization, toxicology, clinical studies, and eventually to sales and marketing, the drug development vice president followed that product through the functional departments of the company. "Very powerful project management teams were superimposed on top of strong functional areas and capabilities," said Kim.
From page 36...
... The Morgridge Institute helps ideas through the valley of death in part by working with local consortia that together represent a critical mass of capabilities in the region. The institute can support research on alternative pathways and better ways of achieving an end while companies focus on the development of products and avoid diverting their capital to precompetitive research.
From page 37...
... And they think health care is a right, not a privilege, so the demands on the health care system are enormous." Third, new countries are coming to the fore, including the BRIC countries (Brazil, Russia, India, and China, to which Burrill added South Africa) and the CIVET countries (Columbia, Indonesia, Vietnam, Egypt, and Turkey)
From page 38...
... Rather than going to a hospital to receive care, people will wear a "smart t-shirt" with embedded sensors that will do all the monitoring that can be done in an intensive-care unit. Patients will feed the results of biological sample analyses into their cell phones before consulting with health care providers.
From page 39...
... You have to make it a focus." ATTRACTING REGIONAL INVESTMENTS The Ohio Third Frontier Program, which was created in 2002, "supports applied research and commercialization, entrepreneurial assistance, early-stage capital formation, and expansion of a skilled talent pool that can support technology-based economic growth." It has been funded from a variety of sources, including the state budget, tobacco settlement money, and bonds approved by the voters. In May 2010, despite the recession, Ohio voters overwhelmingly approved a $700 million extension of the program.4 Frank Samuel, Jr., President of Geauga Growth Partnership, Inc., an economic development organization just outside Cleveland, pointed to several lessons that can be drawn from the program's success.
From page 40...
... But job creation and economic development would be the result. "If you can get financial returns, you will get jobs and economic growth and all the social benefits that come with it." An essential complement to the family of funds in the region is a support network of universities, technology transfer offices, research institutes, philanthropies, state and local programs, and other entities that can support economic growth and entrepreneurship.
From page 41...
... Although such collaboration is more difficult in the current environment, the Wisconsin Institutes of Discovery itself, built through the contributions of the state of Wisconsin, the Wisconsin Alumni Research Foundation, and John and Tashia Morgridge, stands as an encouraging example of what collaboration can accomplish. Despite the serious challenges faced by the United States and by individual states and regions in sustaining an innovative 21st-century economy, Thompson expressed optimism that Americans will be able to come together and do what is necessary.


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