Technology-Led Development Flashcards
the role of the economic developer in tech-led econ dev is to support an _____, or the environment, resources and connections in which innovation can thrive
innovation eosystem
many communities want _____ industries because they create ___
high-tech; high paying
tech based economic development is based on nine factors:
- presence of research institutions
- access to capital
- support for entrepreneurial development
- FDI
- educated and talented workforce
- state and local commitment
- established tech structure
- broadband infrastructure
- quality of place
research institutions =
universities, federal labs, and research facilities, private institutions; these facilities have the desire to convert research to commercialization
access to capital =
availability of venture, see, and conventional capital, angel networks, private equity, and government support
support for entrepreneurial development =
programs for opening new markets, establishing networks, start-up capital, technical assistance, resources and research facilities, and physical space
FDI =
deepens and broadens the capabilities of localized clusters; technology provides access/impetus to innovation
educated and talented workforce =
proximity to research institutions help attract and provide a talented workforce
state and local commitment =
provide resources like capital, special services, and facilities like incubators
established technology structure =
physical and knowledge based infrastructure (physical includes fiber, tech incubators, connectivity, airports, and capacity for growth)
broadband infrastructure =
provide internet access
quality of place =
diversity in all aspects of life including education, culture and recreation that support different types of people in different stages of life
high-tech companies use high-tech products like computers, use technology in production for advanced electronics or use technology to _____
solve a complex problem such as systems integration consulting
tech companies can be sole proprietorships or ______ of larger companies, even if the parent
branch operations; is not technology focused
the ____, infrastructure requirements, risk, and capital requirements will change based on the company
workforce
