Thinking about Thinking about Innovation & Job Growth Innovation & Job Growth (in Connecticut, Norwich and (in Connecticut, Norwich and other places too) other places too) Matthew Nemerson President & CEO of the Connecticut Technology Council Wednesday May 26, 2010 7:30 AM Norwich
57
Embed
CT Regionalism, May 2010 Presentation to Norwich CT, NCDC
Thanks to Matt Nemerson for his fantastic presentation this morning on his view of Technology, Connecticut, Norwich, Regionalism, Government and Economic Development. The PowerPoint presentation he gave is attached as a PDF (I wish we had a recording of his discussion as well!). Like many of us, Matt is solely responsible for the assembly of the high quality work of others (as you all know, I subscribe to that approach myself!) and he has given us permission to use his presentation as long as credit for the content is given to the various sources quoted.
For me, the take away from today is a reinvigorated examination of the work we have been doing while adding some clarity to a number of aspects of our plan. I especially felt the reinforcement of both the value and scale of employment and education in the region as a critical element to the future. Additionally, we need that value proposition in his opening and closing slides to be better vetted and defined for Norwich. I suggest that is the basis of our Community Branding which we will be wrapping this entire effort around for a significant time to come. Thanks Matt for putting in our face on of the first questions to be addressed!
After Matt’s presentation this morning there was a lively exchange which I have not attempted to capture. If you were unable to attend or had to leave before the conclusion, please ask others about their impressions and their unique take aways.
Matt is available for future efforts and I would suggest we perhaps look to a fall program in which we make use of his knowledge and presentation skills to assist us in furthering our mission with both our public as well as across our region. Perhaps we do so in conjunction with SeCTer or the Chambers.
In case you missed it, Matt asked the following key questions to help us make a concerted effort to define ourselves and focus our efforts: What is Norwich’s competitive advantage? What could state do to make Norwich more competitive? What is your natural region? What would your role be a community in 10 years if all your wishes came true?
I think it sage advice and recommend we all make an effort to think about it and bring suggestions forward in a future focused discussion.
Thank you all!
Bob ---
Robert Mills l Executive Director Please NOTE my NEW Email Address [email protected]
77 Main Street, Norwich CT 06360 P: 860.887.6964 l F: 860.887.3438
Visit our new website: www.askncdc.com
Norwich Community Development Corporation (NCDC) is a community of fellow business professionals private, not-for-profit with 45 Years of creative work history. NCDC, led by business and civic leaders, has four decades of experience in bringing life to business.
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Thinking about Thinking about
Innovation & Job Growth Innovation & Job Growth
(in Connecticut, Norwich and (in Connecticut, Norwich and
other places too)other places too)
Matthew Nemerson
President & CEO of the Connecticut Technology Council
Wednesday May 26, 2010
7:30 AMNorwich
My background…Interests:•Computers, Architecture, History•Building Community•Leveraging Technology•Understandng Economic Growth
1974 – Amity Regional High School (Woodbridge – a local boy)
1978 – Columbia College1981 – Yale School of Management1982 – Publisher - Washington Monthly1983 – Started - Science Park at Yale1986 – Real Estate developer1987 – President Greater New Haven
Chamber of Commerce2000 – COO - Netkey Kiosk Software2003 – President - Connecticut Technology Council
What is the CTC?What is the CTC?
� 350 member state-wide business trade association
◦ 2,500 company community
◦ 10% to 15% of state workforce
� Promote Policies > Runs Events Programs > Help connect firms and people
� Build a community and set of ideas
◦ Innovation, growth, helping start-ups, more STEM
Message: be global, be competitive and be part of the future
TodayToday……
� Identifying the types of business sectors that can thrive in eastern Connecticut;
� Working with CTC in growing technology companies;
� Ideas and action steps to further refine Norwich’s economic development opportunities
DiscussionDiscussion
� What is Norwich’s competitive advantage?
� What could state do to make Norwich more competitive?
� What is your natural region?
� What would your role be a community in 10 years if all your wishes came true?
Strategy K.1. Develop ongoing process to coordinate economic development
� Institute a coordinated process for reviewing and promoting projects developers and attract new investors in Norwich
� Institute process for project planning, conceptualization, packaging, and implementation
� Monitor progress on regular periodic intervals
� Hold all partners accountable
Strategy K.2. Develop local capacity to collect and publish data to track and support
� Establish baseline measures of the City’s current economic status that will be updated to measure progress
� Establish baseline measures which inform economic development initiatives
� Develop an environment where Measures of Success are identified and systematically reported
Strategy K.3. Develop parcel-based information system to modernize City operations
� Connect and integrate geographic databases of the City and NPU to support work of city departments
Strategy K.4. Develop economic development component of 2012 Plan
� Refine this plan for inclusion in the Plan of Conservation and Development
� Benchmark Norwich against successful cities of similar size and age; learn from their successes
� Use road trips to visit cities and meet with economic development entities
Many ways to approach Many ways to approach
thinking about growththinking about growth……
� Present vs. Future (ideas)
� Systems vs. Projects (focus)
� Superficial vs. Real (data)
� Change vs. Destiny (control)
� Actor vs. Team (complexity)
� Politics vs. Clarity (power)
� Here vs. Everywhere (scale)
� Local vs. Regional vs. Global (flatness)
Traditional: what drives growth?Traditional: what drives growth?
Source: PricewaterhouseCoopers, National Venture Capital Association
… AND EMPLOYMENT TRENDS, AND INVESTMENTS IN CRITICAL CLUSTERS ISDISCOURAGING …
CT Investments($ Millions)
Investment Amount
No. of Investments
Did not grow as well compared to peer states…
What to do?What to do?
Intra and Entrepreneurs' POVIntra and Entrepreneurs' POV
Issues� Customer service� Networked problem solving� Capturing value� Speed� Corporate or Boot Strap
Skills� Pattern recognition� Expert Thinking – forecasting with
perspective� Complex Communications – making your
point
Case studies of some local Case studies of some local
GazellesGazelles� Tangoe – www.tangoe.com
$50m in five yearsReduce Costs and Take Control of Your Global
CommunicationsTangoe delivers software and technology-enabled services to help global organizations manage, understand, and control their fixed and mobile communications assets and costs.
Idea: Analyze phone bills
Found: Companies wanted to out source everything from land lines to PDA management
Case studies of some local Case studies of some local
GazellesGazelles� HigherOne – www.Higher.com
$75m in ten yearsOur main idea was to expand the purchasing power of our
college ID card so it could be accepted everywhere - not just on campus. We decided to create a product based on combining a college ID card with a Debit MasterCard®; this would help students get their refunds from their school faster, offer more choices in how to receive their money and finally save time and money for colleges and universities.
Idea: College is Debit Card has scholarship money
Found: College bursar offices wanted to outsource many electronic banking issues, faculty and staff functions too.
Which leads to TBED InitiativesWhich leads to TBED Initiatives
� Supporting Tech Transfer in universities and commercialization◦ Ohio: $500m over 7 years for R&D and commercialization◦ New Jersey: $250m for Cancer and Stem cell research R&D and an institute ◦ Michigan:$200m grants for bio, energy, materials, security◦ Maine: $200m R&D and tech transfer – bio, energy◦ Florida:$142m for R&D, incubators, scholars, aerospace◦ New Mexico: $120m R&D – super comp, stem, aerospace◦ Penn: $75m for incubators and assistance◦ Georgia: $33m for GA Research Alliance activities
� Supporting tech bricks and mortar to lure major construction◦ NYS: $600m grant for $3.2b AMD chip factory◦ Florida: $500m grant for Scripps Biotech institute
� Supporting a healthy innovation environment ◦ Penn: $120m new money for tech training and tuitions◦ Mississippi: $28m◦ Maine: $20m for partnerships, training & clusters◦ Ohio: $15m to tech assistance and support for start-ups◦ Oklahoma: $10m, including $5m for seed◦ New Jersey:$8m for assistance programs
Wired 40 2005Wired 40 2005
1. Apple
2. Google
3. Samsumg
4.Amazon
5. Yahoo!
6. EA
7. Genentech
8. Toyota
9. Infosys Technologies 10. eBay 11. SAP 12. Pixar 13. Cisco14. IBM 15. Netflix 16. Dell 17. General Electric 18. Medtronic 19. Intel 20. Salesforce.com 21. Vodafone 22. Flextronics 23. EMC 24. Nvidia 25. Jetblue 26. FedEx 27. Monsanto 28. Microsoft 29. Nokia 30. Costco 31. Comcast32. Pfizer 33. Li &Fung 34. Taiwan Semiconductor 35. Gen-probe 36. Citigroup 37. L-3 Communications 38. Ameritrade39. Exelon 40. BP