Innovation | IndianaPresentation to the Future of Work task forceSeptember 7, 2017

253,000,000 results on google for the phrase “future of work”

• ADAPTABILITY AND BUSINESS ACUMEN

• LIFELONG LEARNING• SOCIAL INTELLIGENCE AND• NEW MEDIA LITERACY• CAREGIVING• TECHNOLOGY AND COMPUTATIONAL

THINKING

One view on the future of work

Skills required

McKinsey Global Institute – A future that works

McKinsey Global Institute – A future that works

Ball State, CBER Automation Risk Index

Higher ………………………….Lower

“The secret of change is to focus all of your energy, not on fighting the old, but on building the new.”

Socrates

www.statsamerica.org/ii2

Innovation 2.0 • use the data and analytical tools as “corrective” lenses to see and

understand a region’s weaknesses, strengths and potential• inform stakeholder collective action toward a common vision • guide complex decision-making at a regional-level

Geography

Pop Jobs2016 4,589,928 2,266,806 2010 4,092,459 1,987,097

INCREASE 497,469 279,709

Harris County (central county of the metro area)

This score is calculated using the number of business incubators within 50 miles, weighted by distance.

Higher scores represent regions with greater concentrations of business incubator resources.

Rationale: Previous research has found that business incubators provide a helpful environment for new businesses. Business incubators provide cheap space, business advice and networking opportunities for startups, which reduces startup costs (or accelerates the process). Because knowledge transfers through social ties, meetings and informal contacts, one would expect business incubators to have an effect across institutions and regions—similar to university and industry R&D. However, because business incubators offer some services that are space dependent, their effect will not be as strong as R&D spillover.Source: National Business Incubation Association

University research and development (R&D) spending and distance between the university and the region selected.

Spending in engineering, geosciences, life sciences, math and computer science, and physical science. Higher scores indicate regions close to universities with high R&D spending in science and engineering.

Rationale: At a local level, academic R&D positively affects new firm formations, industry R&D and other measures of innovation and economic development.

However, not only do universities lead to innovation locally, but they can also affect economic development in the surrounding region. Research on knowledge spillovers has often concentrated on the effects of industry R&D on regional innovation. It is thought their knowledge should spread more widely across institutions and regions. Source: National Science Foundation

The employment share of occupations that apply higher technology (e.g., scientists and engineers) relative to all jobs.Rationale: The “creative class” is a social concept that describes a region’s occupational mix in terms of artists, designers, engineers and the like. Similar to Richard Florida, who developed the creative class notion, the research team constructed a broad measure of certain occupations that favor innovative behaviors. In contrast to the creative class that give primacy to artists, however, our measure uses eight technology-based knowledge occupation clusters that are similar to those used in other research in closer alignment with STEM-based occupations.Source: IBRC Occupational Employment Statistics-based occupation estimates

The proportion of small, high-tech firms in a region relative to the national proportion for high-tech.

A value of 100 indicates that the region has a similar number of small firms relative to the nation for each high-tech industry present in the region.

Rationale: Clusters of innovative activity are closely tied to the stages of an industry’s life cycle. The propensity to innovate varies depending on if the industry is in a birth, growing, maturing or declining stage.

During the early stages of an industry life cycle, there is an increase in the entry of new firms and a high amount of innovative activity.

During the early stages of an industry life cycle, new and smaller businesses have an advantage: they are better at utilizing R&D resources and turning them into innovative activity. Source: County Business Patterns (U.S. Census Bureau)

Questions?Find the Innovation 2.0 tools at www.statsamerica.org/ii2Contact: Carol Rogers at the IU Business Research Center, Kelley School of Business rogersc@Indiana.edu