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Catalyzing Innovation in the Commonwealth of Virginia

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Catalyzing Innovation in the Commonwealth of Virginia

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    2. Project Process: Logical Analytical Tasks

    3. Virginia Industry Cluster Analysis Like most states, Virginia’s economy is dominated by service industries in terms of employment: Education & Government Retail Trade Construction & Real Estate Tourism General & Business Services. Several technology and knowledge-based sectors stand out for their high levels of employment: Life Sciences & Medicine (336,535 workers) Research & Engineering Services (161,633 workers) IT Services (140,016 workers)

    4. Virginia Industry Cluster Analysis Several technology and knowledge-based sectors also have high levels of employment concentration in Virginia (compared to the national average): IT Services (2.69) Research & Engineering Services (1.96) Aerospace, Defense, & National Security (1.76) Telecommunications (1.32) Clusters that have experienced high employment growth rates in recent years include: Research & Engineering Services (26.6%) Construction & Real Estate (12.4%) Transportation & Logistics (8.1%) Tourism (6.7%) Business Services (6.5%)

    8. Virginia Industry Cluster Analysis

    9. Regional Cluster Analysis Common employment trends across all regions: Retail Trade, Tourism, and Construction & Real Estate are major employment-generating sectors across every region. (typical throughout the U.S.). Life Sciences & Medicine also dominates in employment, ranking in the top 3 clusters for every region except Northern Virginia. This is driven by its service component (the Health & Medical Services sub-cluster). Business Services and General Services rank in the top tier of clusters for employment across every region, but do not have especially high employment concentrations.

    10. Regional Cluster Analysis Significant variations across state’s regions: Northern Virginia and Hampton Roads: Technology and knowledge-based clusters – Research & Engineering, IT Services, Aerospace/Defense/National Security. Southwestern/Southside: Natural resource-based clusters such as Materials & Chemicals and Energy & Environment. Rural Regions: Traditional industries such as Wood & Furniture (Southwestern, Southside, Valley), Paper (Southside, Valley), and Textiles & Apparel (Southwestern, Southside, Valley). But overall employment is relatively low. Central region: Financial Services (strong in both employment and employment concentration).

    15. High Growth Potential Technologies for VA

    16. Technology Industry Selection

    17. High Growth Potential Technologies

    18. Biomedical Sciences and Health Care

    19. Information Technology Asset Map

    20. Materials and Chemicals Asset Map

    21. Energy and Environment Asset Map

    22. Transportation and Logistics Asset Map

    23. Case Studies Enhancing Research Excellence at Universities Georgia Research Alliance University of Texas Eminent Scholars Program Ohio Third Frontier (Wright Mega-Centers) Enhancing Collaboration Across Sectors/Disciplines NY Centers for Advanced Technology MD Industrial Partnerships Program CA Industry-University Coop. Research Program NC Research Triangle Enhancing Entrepreneurship and Access to Capital MD Venture Fund GA Advanced Technology Development Fund PA Ben Franklin Technology Partners

    24. Lessons Learned Highlight collaboration as a central component of all programs. Utilize industry and technology experts as key players in decision-making. Seek to leverage multiple sources of funding. Incorporate key economic development objectives and milestones. Introduce and maintain strong systems of accountability. Include flexibility to allow for corrections and to support longevity. Measure innovation progress.

    25. Summary Assessment Assets picture: Field Programmable Gate Array (FPGA) research at the Virginia Tech Configurable Computing LaboratoryAssets picture: Field Programmable Gate Array (FPGA) research at the Virginia Tech Configurable Computing Laboratory

    26. Strategic Focuses for Virginia

    27. Recommended Approach for Virginia Overall Strategic Goal: Virginia will become a Model Innovation Economy Crafted and directed by business, government and university communities Implementation Mechanism: Virginia Innovation Alliance (VIA) Public/Private Partnership A structure to power collaboration Catalyzes Virginia’s assets, addresses liabilities Introduces a seamless innovation value chain

    28. VIA Governance and Funding Governance: Governing board (15-20) with a majority industry leaders. Membership from government, universities, research labs, etc. Advisory committees for technology platforms. Small management unit. Budget: Source & level to be decided Stable and sustained multi-year funding. Initial core funding from the Commonwealth, with major support from industry. To be successful it will require matching funds.

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