New York s Nanotechnology Model: Building the Innovation Economy. Building Innovation Infrastructure: The Role of EDA

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1 New York s Nanotechnology Model: Building the Innovation Economy Building Innovation Infrastructure: The Role of EDA Hudson Valley Community College Troy, New York April 4, 2013

2 Setting the Stage for Long-Term Prosperity EDA s mission is to lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy. EDA s strategic investments enhance the competitiveness of America s communities, spur innovation, and create jobs. EDA s flexible programs leverage private-public investments, support bottom-up strategies, and build 21st century infrastructure.

3 Setting the Stage for Long-Term Prosperity Support development of technology-driven economic ecosystems Support place-based, locally driven initiatives Convene stakeholders Make strategic hard and soft infrastructure investments Promote a regional development and global competitiveness based on leveraging cluster assets Promote knowledge sharing across centers of excellence in economic development

4 Anatomy of an Economic Ecosystem

5 Source: National Academy of Sciences, National Research Council, Understanding Research Science and Technology Parks, Report of a Symposium, Background image: DARPA BUILDING INNOVATION INFRASTRUCTURE: Supporting the Nonlinear Feedback Model of Innovation Feedback: Search for knowledge and discovery Basic Research Feedback: design and new products Quest for Basic Understanding Applied Research Potential Use Development Development of Products New Unanticipated Applications Feedback: Market Signals / Technical Challenge Commercialization

6 The Economic Imperative Source: Nanotechnology Research Directions for Societal Needs in 2020: summary of international study (Nano 2)

7 Between 2001 and 2008 the number of discoveries, inventions, nanotechnology workers, R&D funding programs and markets all increase by an average of 25% annually Applications in: Computing and communication Healthcare Refining Power generation and storage Water purification Other Pervasive Applications Estimated 6 million (2 million in U.S.) nanotechnology workers needed by 2020 Source: Nanotechnology Research Directions for Societal Needs in 2020 (Nano 2)

8 EDA Investment in UB-SUNY $349,565 EDA investment in UB-SUNY to establish The Innovation Hub (ihub) Goal: accelerate the commercialization pipeline, connect entrepreneurs to university and community resources and cultivate a highly skilled talent pool. Outcome: The i-hub project is laying the foundation for a more cohesive ecosystem that advances the region s emerging cluster industries.

9 i6 Grant Challenge Award The Battery Innovation Center at Naval Surface Warfare Center Crane Source: The Battery Innovation Center

10 EDA Investment in Cal Poly Pomona Innovation Village Objective: convert agricultural land ideally suited for commercial applications in the Los Angeles marketplace to high uses with a focus on attracting research and development organizations interested in partnering with the University. Mission: establish a world-class research and development environment for public-private partnership and the leaders of tomorrow s industries to meet, exchange new ideas, challenge frontiers, and work together with the campus community in creating new foundations for the future.

11 EDA Contacts For more information on how EDA can assist your community, and to contact your Economic Development Representative please visit our website Thomas Guevara Deputy Assistant Secretary for Regional Affairs