2011 innovation coalition legislative fly-in
DESCRIPTION
February 16, in Washington, D.C Understanding the Innovation Coalition, supporting the key elements of the continuum for commercialization and job creation. A Presentation by Matthew Nemerson at the 2011 Fly In to Wash. DC ---- More information: The Angel Capital Association Association of University Research Parks Technology Councils of North America National Business Incubation Association National Association of Seed and Venture Funds State Science and Technology Institute joined forces on February 16, 2011 to educate the new Congress about innovation. The 2011 Fly-In began with breakfast on Capitol Hill, where participants will hear from Rep. Steny Hoyer (invited) and other lawmakers. Lawmakers and their staffs were briefed about the innovation process and why innovation is so important in creating a thriving economy. The afternoon was spent in individual meetings with legislative representatives and their staffs. A Welcome Reception on Capitol Hill was held at in the afternoon. The attached presentation was prepared by Matthew Nemerson, President the Technology Councils of North America trade association (TECNA) http://www.technologycouncils.org And President & CEO of the Connecticut Technology Council http://www.ct.orgTRANSCRIPT
INNOVATION COALITION
INNOVATION COALITION
The Innovation Coalition is a collaborative group of innovation-based associations supporting the key elements of the continuum for commercialization and job creation.
ECOSYSTEM OUTCOMES
Companies
Jobs
Innovation
INNOVATION COALITION
Understanding The Innovation Coalition
Matthew Nemerson, President the Technology Councils of North America trade association (TECNA)
And President & CEO of the Connecticut Technology Council
INNOVATION COALITION
Why are we here today?
•A brief background of us
•Creating good new jobs & companies
•Understanding the “Innovation Eco-system”
INNOVATION COALITION
A Brief Background
•Innovation & commercialization creates jobs
•People, institutions and patrons need to connect
•It happens in cities, regions and states
•Sometimes a hard point to make in DC
•Synergy and common goals of our groups
INNOVATION COALITION
The Innovation Continuum1. Start with a problem to solve or a unique concept
2. Add IP – from business and academia
3. Find unique translational & entrepreneurial leaders
4. Provide adequate risk capital when needed
5. Attract and cement with facilities and human talent
6. Accelerate with policies and connections
Start over again…
Who is The Innovation Coalition
Seed and early stage capital…
Labs and centers near campus…
Researchers and scientists…
Regional later stage investments
Seed and early stage capital…
Locations for young firms
Resource center for tech based econ dev
Regional and state innovation trade associations
INNOVATION COALITION
Please explain…
INNOVATION COALITION
1. Policy and connections
2.Technology
& Ideas
3. Risk Capital
4. Acceleration & Facilities
5. Incentives
6. Entrepreneurs & Human Cap.
7. Global Connections and
Branding
8. Transportation & Broadband
Jobs + Growth
INNOVATION COALITION
1. Policy and connections
2.Technology & Ideas
3. Risk Capital
4. Acceleration & Facilities
5. Incentives
6. Entrepreneurs & Human Cap.
7. Global Connections and Branding
8. Transportation & Broadband
Jobs + Growth
INNOVATION COALITION
1. SSTI and TECNA
2.AUTM & SSTI
3. ACA, NASBIC & NASVF
4. NBIA & AURP
5. All groups
6. All group
7 TECNA & SSTI
8. TECNA & SSTI
Jobs + Growth
INNOVATION COALITION
Smaller companies seem to create most jobs…
Source: Stangler and Kedrosky, “Neutralism and Entrepreneurship,” Kauffman Foundation Research Series: Firm Formation and EconomicGrowth, 2009
INNOVATION COALITION
But data analysis shows that its is the age which is the true correlation
Source: Stangler and Kedrosky, “Neutralism and Entrepreneurship,” Kauffman Foundation Research Series: Firm Formation and Economic Growth, 2009
Years in Business
INNOVATION COALITION
Creating good new jobs & companies
•95% of net new jobs from young start-ups
•Hi % of net new jobs from small % of fast growing firms
•Creating high potential new firms is hard
•Each regional system is unique – yet similar
•Need to create networks and a continuum
INNOVATION COALITION
INNOVATION COALITION
The Innovation Coalition is a collaborative group of innovation-based associations supporting the key elements of the continuum for commercialization and job creation.
ECOSYSTEM OUTCOMES
Companies
Jobs
Innovation