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A New Model for Economic Development: The University and Greenhouse Roles Don Smith VP for Economic Development, MPC University Director of Economic Development University of Pittsburgh and Carnegie Mellon University January 31, 2005 Why are the Universities playing a bigger role?

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a new model for economic development the university and greenhouse roles

A New Model for Economic Development: The University and Greenhouse Roles

Don Smith

VP for Economic Development, MPC

University Director of Economic Development

University of Pittsburgh and Carnegie Mellon University

January 31, 2005

why are the universities playing a bigger role
Why are the Universities playing a bigger role?
  • The economy has changed
    • Talent, Technology play central role
    • Universities are more important than ever
  • There is great interdependence with the region
    • A stronger Pittsburgh aids faculty and student recruitment
    • Local company partners improve the research and education quality
  • University leadership understands their roles
a new collaboration
A New Collaboration
  • Newly formed collaboration on economic development
  • Designed to make actively the connections with the private economy
  • The “friendly front door” to the universities
  • Actively seek collaborative opportunities
  • Sharpen focus on economic development
  • Leverage complementary strengths
  • Focus on Oakland for physical development
slide4

University Resources:

Students

Alumni Networks

Faculty Experts

Specialized Equipment

Research and Technology

Entrepreneurial Education

Technology Transfer

University Innovators

Faculty Innovators

Staff Innovators

Student Entrepreneurs

Tech Commercialization

Alliance

Innovation Exchange

JEDI

Businesses and the

Community:

Regional Entrepreneurs

Regional Companies

Venture Capitalists

Companies in other regions

Economic Development:

Pittsburgh Greenhouses

Pittsburgh Regional Alliance

Innovation Works

Technology Council

Commonwealth

technology commercialization
Technology Commercialization

Major Changes Underway

  • Innovation Exchange at CMU
  • Technology Commercialization Alliance at Pitt
  • Both take a more holistic approach to tech commercialization
  • Focus on startups
  • Streamline the process
  • Provide access to additional resources
  • Improve the entrepreneurial culture at both universities
what s a region to do
What’s a Region to Do?
  • Utilize Cluster Strategies to leverage Innovation
  • Invest in Technology Development linked to Technology Commercialization
  • Focus development around Technology/Talent Districts
  • Invest in Amenities tied to local clusters
plsg mission
PLSG Mission

The PLSG Exists to Create an Environment to

Grow Pittsburgh’s Life Sciences Economy

The PLSG’s Mission:

  • Accelerate the creation of new Start-Ups
  • Retain and grow the existing base of regional companies
  • Invest in academic facilities and research facilities
  • Attract companies to the Region
plsg mission and programs
PLSG Mission and Programs

People

Capital

Connectivity

Space

University/Research

Startup Company

Existing Companies

PLSG Stars

PLSG Talent

PLSG Executive Corps

PBDC

PLSG Seed Fund

PLSG TechnologyDevelopment Fund

University Development Fund

PLSG SBIR Advance

PLSG VC Outreach

PLSG Attraction

PLSG & PTC Biomedical Network

PLSG Facilities

PLSG Incubator

cluster initiatives pittsburgh digital greenhouse
Cluster Initiatives: Pittsburgh Digital Greenhouse
  • Cluster development targeting Chip Design
  • www.digitalgreenhouse.com

Academic

Research amd

Talent

Strength

Market Growth

Opportunities

Regional

Industry

Strength

digital greenhouse
Digital Greenhouse
  • Partnership of State, 3 Universities, Local Economic Development/Civic Organizations
  • All about market focus, and making the linkages
  • 25 member companies
  • $6.2M in research
  • Tech transfer focus
bridging the party lines
Bridging the Party Lines
  • Universities –
    • “Fund research and economic development will happen”
    • But, weak local “absorptive capacity”
  • Community –
    • “Universities have money, we can just build outside and ask them to give us the technology”
    • But, value is still inside the castle
  • Have to build on both sides of the wall, as well as building portals through the walls
making it work principles
Making it Work: Principles
  • Build region’s capacity to capture innovation
  • Must invest in both sides of the equation
  • Create the relationships that transfer knowledge
  • Make contact with universities easier and more collaborative
what are the net outcomes
What are the net outcomes?
  • Higher leverage of university assets
  • Greater connection to regional economy
  • More and better jobs
  • Greater investment in the region
  • Lower costs to working with the universities
enlightened self interest
Enlightened Self Interest
  • Not doing good for its own sake. Rather,
  • Doing well by doing good
  • Benefits to university
    • Access to state and federal funds
    • Traction with benefactors
    • Links to alumni, business and civic leaders
    • More research, new faculty slots, better students, additional infrastructure
community benefits
Community Benefits
  • Strengthen Key Institutions
  • Leverage university assets for regional growth
  • Integrate Economic-Education-Cultural drivers
  • Neutral broker for regional organizing
  • “Catch Basin” for the fountain of youth, innovation, and wealth flowing from universities