The Next American Economy - Connecticut
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Transcript of The Next American Economy - Connecticut
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A U T H O R O F W H Y G M M A T T E R S
BLUEPRINT FOR A REAL RECOVERY
WILL IAM J . HOLSTEIN
T H E
N E X T A M E R I C A N E C O N O M Y
Connecticut’s Economic Strategy & Education’s Role
WilliamJHolstein.com
Presentation for the Connecticut Academy of Science and Engineering’sWorkforce Alignment Study Committee
March 14, 2012
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WHAT IS AN IDEA FACTORY?
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WHAT IS AN IDEA FACTORY?
It can be a university, research institute, large hospital, national weapons laboratory or a large private sector company.
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With A Mix of Basic and Applied Research.Mostly Funded by Government and Corporations.
WHAT IS AN IDEA FACTORY?
It is characterized by:‣ Sustained Interactions‣ Both Formal and Informal
Between:‣ Different disciplines‣ Different cultures, nationalities
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HOW DO IDEAS LEAVE THE FACTORY?
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HOW DO IDEAS LEAVE THE FACTORY?
The key is the technology licensing and patenting office.
‣ Under what terms does the office allow development on favorable terms?
‣ Does it facilitate robust exchange of ideas between "inside" and "outside?"
‣ What resources does it possess?
WilliamJHolstein.com
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COMMERCIALIZATION ECOSYSTEM: 5 STAGES
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STAGE 1
START UP
UNIVERSITYSETTING
FINANCINGGOV’TANGELSFOUNDATIONS
TEAMSCIENTISTS & RESEARCHERS ONLY
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STAGE 1 STAGE 2
START UP DEVELOPMENT
UNIVERSITY INCUBATOR / HALFWAY
HOUSE
SETTING
FINANCINGGOV’TANGELSFOUNDATIONS
GOV’T (SBA)
LARGE CO’STEAMSCIENTISTS & RESEARCHERS ONLY
TEAM GROWS: - MARKETING- FINANCEOTHER KEY INPUTS:- MENTORING- PEER NETWORKING- SKILLED LABOR- NETWORKING MECHANISMS
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STAGE 1 STAGE 2 STAGE 3
START UP DEVELOPMENT MARKET FACING
UNIVERSITY INCUBATOR / HALFWAY
HOUSE
OFFICESETTING
FINANCINGGOV’TANGELSFOUNDATIONS
GOV’T (SBA)VENTURE
CAPITALISTSLARGE CO’S
TEAMSCIENTISTS & RESEARCHERS ONLY
TEAM GROWS: - MARKETING- FINANCE
PROFESSIONAL CEO MAY BE REQUIRED
OTHER KEY INPUTS:- MENTORING- PEER NETWORKING- SKILLED LABOR- NETWORKING MECHANISMS
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STAGE 1 STAGE 2 STAGE 3 STAGE 4
START UP DEVELOPMENT MARKET FACING
VALLEY OF DEATH
UNIVERSITY INCUBATOR / HALFWAY
HOUSE
OFFICESETTING
FINANCINGGOV’TANGELSFOUNDATIONS
GOV’T (SBA)VENTURE
CAPITALISTSLARGE CO’S
TEAMSCIENTISTS & RESEARCHERS ONLY
TEAM GROWS: - MARKETING- FINANCE
PROFESSIONAL CEO MAY BE REQUIRED
CEO + FULL FINANCIAL TEAM- MANUF.- LOGISTICS- SALES
OTHER KEY INPUTS:- MENTORING- INCUBATORS- PEER NETWORKING- NETWORKING MECHANISMS
WilliamJHolstein.com
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STAGE 1 STAGE 2 STAGE 3 STAGE 4 STAGE 5
START UP DEVELOPMENT MARKET FACING
VALLEY OF DEATH
FULL COMMERCIALIZ-
ATION
UNIVERSITY INCUBATOR / HALFWAY
HOUSE
OFFICESETTING
FINANCINGGOV’TANGELSFOUNDATIONS
GOV’T (SBA)VENTURE
CAPITALISTSLARGE CO’S
TEAMSCIENTISTS & RESEARCHERS ONLY
TEAM GROWS: - MARKETING- FINANCE
PROFESSIONAL CEO MAY BE REQUIRED
CEO + FULL FINANCIAL TEAM- MANUF.- LOGISTICS- SALES
OTHER KEY INPUTS:- MENTORING- INCUBATORS- PEER NETWORKING- NETWORKING MECHANISMS
WilliamJHolstein.com
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STAGE 1 STAGE 2 STAGE 3 STAGE 4 STAGE 5
START UP DEVELOPMENT MARKET FACING
VALLEY OF DEATH
FULL COMMERCIALIZ-
ATION
UNIVERSITY INCUBATOR / HALFWAY
HOUSE
OFFICESETTING
FINANCINGGOV’TANGELSFOUNDATIONS
GOV’T (SBA)VENTURE
CAPITALISTSLARGE CO’S
TEAMSCIENTISTS & RESEARCHERS ONLY
TEAM GROWS: - MARKETING- FINANCE
PROFESSIONAL CEO MAY BE REQUIRED
CEO + FULL FINANCIAL TEAM- MANUF.- LOGISTICS- SALES
OTHER KEY INPUTS:- MENTORING- INCUBATORS- PEER NETWORKING- NETWORKING MECHANISMS
WHERE ARE THE GAPS???
WilliamJHolstein.com
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STAGE 1 STAGE 2 STAGE 3 STAGE 4 STAGE 5
START UP DEVELOPMENT MARKET FACING
VALLEY OF DEATH
FULL COMMERCIALIZ-
ATION
UNIVERSITY INCUBATOR / HALFWAY
HOUSE
OFFICESETTING
FINANCINGGOV’TANGELSFOUNDATIONS
GOV’T (SBA)VENTURE
CAPITALISTSLARGE CO’S
TEAMSCIENTISTS & RESEARCHERS ONLY
TEAM GROWS: - MARKETING- FINANCE
PROFESSIONAL CEO MAY BE REQUIRED
CEO + FULL FINANCIAL TEAM- MANUF.- LOGISTICS- SALES
OTHER KEY INPUTS:- MENTORING- INCUBATORS- PEER NETWORKING- NETWORKING MECHANISMS
WHERE ARE THE
OVERLAPS???
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WHERE ARE THE OVERLAPS
If a state or region has too many competing institutions…and too much institutional rigidity…the result is confusion for end-users.
Resources are not properly focused…no one program achieves scale.
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WHERE ARE THE OVERLAPS
KEY QUESTIONS:
‣ Do government agencies, political leaders, universities, institutes, innovation centers and the private sector have broad agreement on a strategic direction?
‣ …and who does what?
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TRAINING / RETRAINING ECOSYSTEM
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Workers pay to take appropriate classes
Support from:- Fed / State / Local- Foundations- Student Loans
Companies require specific skills, advise community colleges on courses, provide equipment and instructors
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COMMUNITY/TECHNICAL COLLEGE SYSTEM
Output
Well-trained workers for jobs that exist today and in the future
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DOES EDUCATION FEED THE CLUSTER?
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DOES EDUCATION FEED THE CLUSTER?Currently, local educational institutions are falling short when it comes to providing these industries with a well-trained workforce to fill highly technical roles:
‣ Aerospace
‣ Biotech/medical devices
‣ Sub-marine related technologies from Groton
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A U T H O R O F W H Y G M M A T T E R S
BLUEPRINT FOR A REAL RECOVERY
WILL IAM J . HOLSTEIN
T H E
N E X T A M E R I C A N E C O N O M Y
Available in print and e-reader formats today.
WilliamJHolstein.com