innovating economic development

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Originally Presented at the ICAD Group Investor Council Meeting 2.11.11

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ICAD presentation on cultivating a culture of innovation in the region

TRANSCRIPT

Originally Presented at the

ICAD Group Investor Council Meeting

2.11.11

“…The battle of devices has now become a war of ecosystems,

where ecosystems include not only the hardware and software of

the device, but developers, applications, ecommerce, advertising,

search, social applications, location-based services, unified

communications and many other things. Our competitors aren't

taking our market share with devices; they are taking our market

share with an entire ecosystem. This means we're going to have to

decide how we either build, catalyze or join an ecosystem…”

1. Support the needs of existing interstate commerce companies in our area.

1. Maintain competitive cost environment

2. Maintain ability to keep and attract top talent

2. Recruit new interstate commerce employers to the area

1. Sell competitive cost environment

2. Sell ability to keep and attract top talent

3. Hope entrepreneurs start new interstate commerce companies

1. Hope someone else is helping them

2. Hope they like it enough here to stay

Everything has changed

What used to work is no longer sufficient to compete in a global economy

Regions are being sorted out into winners and losers

The common traits/ perception of the winners is a culture of: collaboration, entrepreneurship, innovation, education, risk taking, diversity, artistry and connected community.

THESE REGIONS EXHIBIT THE TRAITS OF HIGHLY FUNCTIONING ECOSYSTEMS (OR DENSE NETWORKS OF CONNECTION / VISION)

Some areas are recognized globally

for their cultures of innovation

To some Iowa = Agriculture

Some think we are Idaho

At best, many think of UI Athletics

Mostly, people outside of our market

(as well as within) do not hold a perception about our region

Strong economy with low unemployment

One of the highest educational attainment levels

Diverse mix of international people & industry

Major research university

Awesome weather (at least 20 days a year)

Writer’s Workshop / City of Literature

Vibrant art and cultural scene

Low cost of living

Safe, engaging communities

Metro and rural living options

Midwestern values, civic pride, compassion

Top tier community college

We shouldn’t be a secret with all that

we offer

End Goal: The region currently known as “The Corridor” becomes internationally recognized as a hub for innovation in education, entrepreneurship, economic development and artistic culture.

A place where people want to live, companies succeed and from which globally relevant ideas spring.

An ecosystem of collaborative innovation

Buzzword of the day or only path to success?

The power of ideas,

coupled with generosity

of spirit serve to merge

unique and disparate

thoughts into profitable

products and services.

A novel idea? - Hardly Click to view

1: Encouraging innovative ways for people to connect and engage

2: Leverage existing connections to foster meaningful relationships

3: Create physical spaces within the region which embody this new mindset where people can interact

America Requires Innovation > Innovation Requires Collaboration > Collaboration

Requires Energy and Space. Our Challenge is to Create These.

Our need is to create a brand which speaks to our

Quest to Catalyze a

Culture of Innovation

(Note: Sherpa name has been voted

out, new term for the connectors

forthcoming)

http://iccreatives.us

Creative spaces for events and

coworking aimed at increasing

our effectiveness at assisting

local companies, growing new

firms and recruiting outside

investment / companies

can start to

Culture of Innovation

Global Relevance

Future focused

Past / Future

Tradition / Mindset

Risk Averse Culture

Comfort with Status Quo and past success

Shared Goal of Global Relevancy

Community Pride / Vitality

Linkages between big / small companies

Artistic / Creative Culture

Housing / Space Education

Community Development

Region becomes internationally recognized as a hub for innovation

in education, entrepreneurship, economic development and artistic

culture.

A place where people want to live, companies succeed and from

which globally relevant ideas spring.

Truly realizing an ecosystem of collaborative innovation

Inspirational Leaders

CBA Members IQ Council

Early adopters (working title)

Passionate Focus

Sub - Fields Institutions

Word of Mouth

Existing Spheres of Influence

Social Networks

Existing Media

Events Coworking

Symbols

Network Access

We can create a Dense Network Around this Culture of Innovation

Credit: Sarah Miller Caldicott for Introducing this Dense Network Concept

To enhance the quality of our

communities by serving the business

development needs of interstate

commerce companies

We will create, collaborate and lead

regional economic development initiatives

that contribute to the creation and growth

of companies, wealth and quality jobs

through a spirit of innovation and a culture

of sharing that transforms knowledge into

economic opportunity.