Download - KSA Annual Meeting - March 8, 2012
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Kendall Square AssociationAnnual MeetingMarch 8, 2012
Tim RoweFounder and CEO
Cambridge Innovation Center
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At the end of the day,
we all have the same priorities
healthy kidshappy families
strong and safe communities
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The key to this?
good and well-paying jobs
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Where do jobs come from?
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They are coming from HERE.
They are coming from US.
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Recent research says that innovation
and entrepreneurship are the key to job growth.
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The Importance of Startups in Job Creation and Job Destruction, T. Kane, The Kauffman Foundation, July 2010 http://goo.gl/eMSqe
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Are we really playingsuch a crucial role?
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Talent Massachusetts:#1 in college graduates
- According to the 2010 US Census,
Massachusetts leads the nation in bachelor and advanced degrees earned- 54.6% of the Massachusetts adult population has a
college degree, 43% higher the national average.- We have the highest college graduation rate in the country, 69.2%
We are #1 in talent
Boston area alone:50+ colleges and universities with
225,000+ students
US Census 2010: http://www.census.gov/compendia/statab/2012/tables/12s0233.pdfThe National Center for Higher Education Management Systems (NCHEMS): http://goo.gl/U1usr College Board: http://goo.gl/yrMJkMap: http://goo.gl/FmWlo
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We are #1 in R&D funding...NIH example
Building New York City's Innovation Economy, J. Grady and J Bowles, Center for an Urban Future, September 2009. http://www.nycfuture.org/images_pdfs/pdfs/BuildingNYCsInnovationEconomy.pdf
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We are #1 in venture capital
NVCA 2009 Yearbook. Graphic taken from "Boston Startup Scene" presentation by Jeffrey Bussgang, Flybridge Capital Partners. http://www.slideshare.net/bussgang/boston-startup-scene-picture-presentation-212
Massachusetts$457/person
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What makes Kendall Square so potent?
● Talent ● Investment ● Density, density, density
○ Leads to collaboration, community
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Density
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What excites meabout the KSA?
We are telling our story We are building community We are helping design the future of Kendall We are increasing our impact on the world
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Telling our story
The Entrepreneur Walk of Fame
2011 Honorees:Bill Gates · Bill Hewlett · Bob Swanson · David Packard · Mitch Kapor · Steve Jobs · Thomas Edison
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Building Community
Third Thursdays
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Designing the Future of Kendall Working with Stakeholders to Identify Good Outcomes For All
MIT proposed design for the new center of Kendall Square
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Impacting the worldMIT
● The Kauffman Institute estimates there are 25,800 currently active companies founded by MIT
alumni that employ about 3.3 million people and generate annual world revenues of $2 trillion, producing the equivalent of the eleventh-largest economy in the world.
A few milestones from just this past month...
● Great Point Energy developed coal gasification technology announced $420 million of investment to take its Kendall Square technology to China. This was the largest Chinese investment ever in a private US company.
● Biogen Idec recognized the value of the innovative therapies for fibrosis and organ failure
developed by Stromedix, acquiring it for $562 million on cash and milestone payments
● Local startup Wefunder.com obtained 2,500+ signatures on a petition to change investment laws to enable crowd-funding (IPOs without the paperwork), and it looks likely to pass
● MIT Prof. Bob Langer announced the results of a study implanting a wireless electronic device in the human body for drug delivery--the first ever attempt of this kind
MIT Entrepreneurial Impact: The Role of MIT, E. Roberts, C. Eesley, MIT Sloan and the Kauffman Institutte, February 2009.Xconomy on Great Point Energy: http://goo.gl/fube6; Investors.com on Biogen Idec: http://goo.gl/Z5YQFwww.wefunder.com; MIT News on Bob Langer: http://goo.gl/KgjNK