Innovation Economics - NATO€¦ · Innovation Economics In Action Product improvements New...

WEXFORD SCIENCE+TECHNOLOGY

Innovation Economics

NATO Allied Command Transformation

Industry Day 2011

Industry Drivers

Politics

Economics

Threats


The New Normal

Threats Politics Economics


Political Pressures

• Laser focus on debt reduction

• Discourse has become disassociated with needs

• Political strategy is trumping cooperation

• The clock could be allowed to expire!


$500bn

$850bn

Technology Driven Cost Benefit?

From:

•Requirements •Capabilities •Procurement •Manufacturing

Toward: •Flexibility •Alacrity •Speed to solution •Enhanced effectiveness


http://mi9.com/f-35-joint-strike-fighter_18841.html

An Emerging Economic Theory

• Classical (Smith) • Neoclassical (supply & demand) • Keynesian (gov’t guiding hand) Productivity Pricing Promotion

Labour

Land

Capital

Knowledge

Entrepreneurship

Technology

Innovation

Innovation Economics Processes Products Business models

Labo

ur C

apit

al


Open Innovation Ecosystems

Motorsport Valley, UK

Cambridge, Kitchener, Waterloo, CN


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What Defines an Ecosystem?

Porous University/Institution Applied Research Focus

Intentional Outflow of Ideas

Administrative Vision

Facilities and Infrastructure

Entrepreneurial Faculty & Students

Regional Innovation Hub

Differentiated Research

Research Centers of Gravity

Gov’t Labs & Programmes

Destination Faculty

Access to Policymakers

Commercialization Opportunities

Business Climate

Favorable Policies and Regs

Spectrum of Companies (Clusters)

Robust IP Marketplace

Access to Financing Instruments

Culture

Entrepreneurial Outlook

Support Organizations

Management and Catalysts

Spectrum of Companies


A NATO ACT Innovation Gateway?

CRADA


New Venture Uncertainty

• Fail to fully develop technology

• Low market demand

• No sustainable business plan

• Poorly spend funds on non critical elements


Reverse Technology Transfer

Enhance the University’s role as a partner with industry in the commercialization of value driven technology: – By engaging in collaborations, partnerships and joint ventures with business; – providing talent and expertise (through the Business Gateway) to assist companies

in commercializing their own technologies; – helping entrepreneurs identify financing sources and qualified management

talent; – encouraging business creation activities.

Create deal flow and commercialization opportunities for promising ODU technologies – by proactively guiding the entry of ODU technologies into the marketplace; – actively promoting the licensing of ODU technologies; – creating magnetic commercialization within the University’s focused research

capabilities. – handholding faculty and students through start-up process.


What Makes IRP Unique?

Access Proximity Infrastructure

Intellectual Capital University Village Class A/ Lab Facility

Research

Capabilities

Campus Amenities/

Affiliate Program

National Lambda

Rail

Technology Transfer Centers of

Excellence

Modeling &

Simulation

Academic Programs

Norfolk/

Hampton Roads

Research

Instrumentation/

Assets

University

Resources

Defense/Security

Ecosystem

Accelerator/ Finance

Services

Faculty Consulting Port of Virginia HUB, Empowerment

Zones Student Workforce Gov’t Facilities


Eco

syst

em L

ever

age


University Technology Park at IIT

Chicago, IL

Science Center

3535 Market Street

Philadelphia, PA

Science Center

3701 Market Street

Philadelphia, PA

Hershey Center for Applied Research

Hershey, PA

Washington University in St. Louis

St. Louis, MO

University of Maryland BioPark – Bldg I

800 W. Baltimore Street

University of Maryland BioPark – Bldg II

801 W. Baltimore Street

Innovation Research Park @ ODU

Old Dominion University

Norfolk, VA

Science Center

3711 Market Street

Philadelphia, PA

BioResearch and Development Growth Park

at the Danforth Center

St. Louis, MO

Innovation Research Park @ ODU – Bldg 2

Old Dominion University

Norfolk, VA

University of Miami Life Science

Research and Technology Park

Miami, FL

Wake Forest Biotech Place

Raleigh-Durham, NC

If You’ve Seen One Research Park… WEXFORD SCIENCE+TECHNOLOGY

Innovation Economics In Action

Product improvements

New customers

Fresh ideas

Talented employees

Dynamic environment

Prototype development

Engineering expertise

Procurement assistance

Student design projects

Internships/graduates

IRP collaboration office

On-Site machine shop


Thomas Osha

4211 Monarch Way

Suite 102

Norfolk, Virginia 2350829

(757) 353-5737

[email protected]

Thank You

Executive Director Economic Development


Innovation Economics - NATO€¦ · Innovation Economics In Action Product improvements New...

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