innovation economics | building regional economies
DESCRIPTION
A brief overview of how open networks are changing the game in regional economic development. A presentation before the Florida Economic Development Council in June 2011.TRANSCRIPT
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Innovation Economics: Harnessing the Power of Open Networks
Ed MorrisonPurdue Center for Regional DevelopmentJune 24, 2011
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Oklahoma City, 1993A basket case
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Oklahoma City, 2010A national model
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Realities in 1993...
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Another clear factGlobalization matters
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Networks matter
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0
500
1,000
1,500
2,000
1995 1998 2001 2004 2007 2010
Millions of Users
First rumblings of the Internet
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Clusters matter
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OK, Smart guy...How do you build an innovation economy?
How do you develop clusters?
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New Ways of Thinking
New Ways of Behaving
New Ways of Doing
It comes down to this...
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New Ways of Thinking
New Ways of Behaving
New Ways of Doing
It comes down to this...
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The Shanghai PerspectiveDeal with it
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Confront your SwitchpointWe have choices to make
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Engage the InternetOur first interactive mass medium
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Move to a new S curveWealth created by networks
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Understand the challengesWe are between two economies
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Link assets to create pathways and opportunities
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Develop 5 types of networksBuild a balanced portfolio
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Find the leverage pointsEverything is connected
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Think in new waysNetworks are different
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Study networksWelcome to a new world
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Molecular biologyLook familiar?
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Understand Open Source softwareHow did Linux happen?
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Manage complexitywith simplicityThe world is complex enough
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New Ways of Thinking
New Ways of Behaving
New Ways of Doing
It comes down to this...
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Our civic economy is in a ditchProof point: High School Dropouts
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Transform our civic economy To make our entire economy more productive
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Create shared valueVital to our productivity
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Embrace diversityWhat is the reality of the coffee cup?
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Civility is strategicSo we can do complex thinking
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Create rules of civilityThere are none, unless we do
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Cross invisible fences(They don’t work in global markets...besides they’re for dogs)
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Confront your Personal SwitchpointBehave in ways that build trust and mutual respect
If your actions inspire others to dream more, learn more, do more and become more, you are a leader
John Quincy Adams
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New Ways of Thinking
New Ways of Behaving
New Ways of Doing
It comes down to this...
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Why Strategic Doing?Old approaches are too costly, inflexible and difficult to manage
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Strategic Doing aligns networkswith “Link and Leverage” Strategies
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Powerful experiencesExperiences that connect and move people...
Strategic Doing session Kokomo, IN
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InnovationThe Nation’s first green manufacturing certification
Starting point: 12 people conducting a Strategic Doing session in the basement of the White County courthouse
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Cluster activationMilwaukee Water Cluster launched a strategic agenda
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SpeedMilwaukee Water Cluster 3 months after launch session
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Strategic Doing accelerates trustBy moving people to action quickly
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A core team leads the clusterThe team commits to principles of open innovation
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Core TeamPrivately led with civic support
Commitment to collaborative innovation (creating shared value)
Rules on information sharing, confidentiality, governance emerge
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Higher education anchorsColleges and universities can anchor the cluster
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Others align to the clusterDevelopment organizations align to advance the strategy agenda
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Build strategy portfoliosFive types of networks support a cluster
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Place-based innovationUse the same strategy map
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Charleston Digital CorridorPlace-based innovation
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21 million jobsneeded to return to full employment by 2020Source: McKinsey Global Institute
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New Ways of Thinking
New Ways of Behaving
New Ways of Doing
OK, Smart guy...How do you build an innovation economy?
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New Ways of Thinking
New Ways of Behaving
New Ways of Doing
OK, Smart guy...How do you build an innovation economy?
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Small Business Vitality RankingsWe can transform
1. Austin
2. Oklahoma City
3. Charleston, SC
Source: Business Journal Digital NetworkApril 11, 2011
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Strategic DoingAccelerating solutions through civic collaboration
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Coming Fall 2011Purdue Strategic Doing Professional Certification
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Get ConnectedPurdue Center for Regional Development
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Thank you!Ed Morrison