The Next American Economy - Connecticut

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

WHAT IS AN IDEA FACTORY?


It can be a university, research institute, large hospital, national weapons laboratory or a large private sector company.


With A Mix of Basic and Applied Research.Mostly Funded by Government and Corporations.


It is characterized by:‣ Sustained Interactions‣ Both Formal and Informal

Between:‣ Different disciplines‣ Different cultures, nationalities


HOW DO IDEAS LEAVE THE FACTORY?

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?


COMMERCIALIZATION ECOSYSTEM: 5 STAGES

STAGE 1

START UP

UNIVERSITYSETTING

FINANCINGGOV’TANGELSFOUNDATIONS

TEAMSCIENTISTS & RESEARCHERS ONLY


STAGE 1 STAGE 2

START UP DEVELOPMENT

UNIVERSITY INCUBATOR / HALFWAY

HOUSE

SETTING


GOV’T (SBA)

LARGE CO’STEAMSCIENTISTS & RESEARCHERS ONLY

TEAM GROWS: - MARKETING- FINANCEOTHER KEY INPUTS:- MENTORING- PEER NETWORKING- SKILLED LABOR- NETWORKING MECHANISMS


STAGE 1 STAGE 2 STAGE 3

START UP DEVELOPMENT MARKET FACING


HOUSE

OFFICESETTING


GOV’T (SBA)VENTURE

CAPITALISTSLARGE CO’S


TEAM GROWS: - MARKETING- FINANCE

PROFESSIONAL CEO MAY BE REQUIRED

OTHER KEY INPUTS:- MENTORING- PEER NETWORKING- SKILLED LABOR- NETWORKING MECHANISMS


STAGE 1 STAGE 2 STAGE 3 STAGE 4


VALLEY OF DEATH


HOUSE

OFFICESETTING







CEO + FULL FINANCIAL TEAM- MANUF.- LOGISTICS- SALES

OTHER KEY INPUTS:- MENTORING- INCUBATORS- PEER NETWORKING- NETWORKING MECHANISMS


STAGE 1 STAGE 2 STAGE 3 STAGE 4 STAGE 5


VALLEY OF DEATH

FULL COMMERCIALIZ-

ATION


HOUSE

OFFICESETTING












VALLEY OF DEATH

FULL COMMERCIALIZ-

ATION


HOUSE

OFFICESETTING









WHERE ARE THE GAPS???




VALLEY OF DEATH

FULL COMMERCIALIZ-

ATION


HOUSE

OFFICESETTING









WHERE ARE THE

OVERLAPS???


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.


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?


TRAINING / RETRAINING ECOSYSTEM

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


COMMUNITY/TECHNICAL COLLEGE SYSTEM

Output

Well-trained workers for jobs that exist today and in the future

DOES EDUCATION FEED THE CLUSTER?

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


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.


The Next American Economy - Connecticut

Business

peer networking networking

key inputs

finance professional

logistics mentoring

financial required team

sales incubators

financialonly finance

idea factory