pa prosperity partnership initiative: envisioning the university role in the innovation economy...
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PA Prosperity Partnership Initiative: PA Prosperity Partnership Initiative: Envisioning the University Role in the Envisioning the University Role in the
Innovation EconomyInnovation Economy
Irene J. Petrick, Ph.D., Faculty Administrative FellowOffice of Economic & Workforce Development
Professor of Practice, College of Information Sciences & Technology
IST Statewide Faculty MeetingMay 12, 2009
“Tough Choices Tough Times, The Report of the New Commission on the
Skills of the American Workforce,”
National Center on Education and the Economy, 2007.
Innovation MattersInnovation Matters
The Creative ClassThe Creative Class
Source: Bureau of Labor Statistics data as cited in The Rise of the Creative Class by Richard Florida, 2002 and 2006 data as classified per Recasting the Creative Class to Examine Growth Processes by David A. McGranahan and Timothy R. Wojan, 2007
What is the Innovation Economy?What is the Innovation Economy?
Dynamic competitive environment which emphasizes◦Flexibility◦Adaptability◦Capacity to add value through intangible assets
Knowledge workers and their talents become key economic differentiators
Choices for employment are not bounded by traditional location/geographic characteristics
Evolution of the Innovation EconomyEvolution of the Innovation Economy
Agrarian Industrial Innovation
Land & labor create economic value
Mechanical solutions replace & extend labor productivity
Information technology extends human talent
Economic value tied to the location of natural resources
Economic value tied to access to capital and power
Economic value tied to access to talent and communication networks
The family farmer The Titans of Industry The Entrepreneur and Intrapreneur
Megaregions of North AmericaMegaregions of North America
Map by Tim Gulden and Ryan Morris
Richard Florida 2008
Human
Social
Physical
Financial
Technological
Organizational
Pyramid of Regional AssetsPyramid of Regional Assets
Changing University RolesChanging University Roles
Innovation Economy CycleInnovation Economy Cycle
Patents/licenses,STEM & knowledgeprofessionals, research, facilities & funding
Revenue & profits, investments, job choices,new business creation
Growth, decreasedout-migration, leveragedcompetitive advantage, infrastructure improvements
Destination location,increased housing &recreation choices
How do Universities Participate?How do Universities Participate?
Leveraged space: Technology incubation, research and lab spaceStudent engagement at all levels to support company business
and technical needsFree access to university resources Training at multiple levelsOn-line learning and supportAttracting talent to key research areasPublic – private partnership funding modelsHeavy state support, often ranging from basic research to
commercial activities
Regional EngagementRegional Engagement
GOALS:Understand the region (from the region’s perspective)
Identify needs and gaps
Consider transformative opportunities
Translate opportunities into University strategic initiatives
PA Prosperity Partnership InitiativePA Prosperity Partnership Initiative
Undertaken by the Office of Economic and Workforce Development with the help of TrippUmbach
A series of listening sessions at campuses – Spring to Summer
Campus-centric leadership
Internal listening sessions/focus groups – Summer
Analysis, synthesis and strategic plan development – Fall
http://www.oewd.psu.edu/pa-prosperity-partnerships/