Investments That Bring the Benefits Home

Technology-based business development initiatives use local, regional and/or national resources to improve the global economic competitive position. Regional development, science cities, technopolis programs, business clusters, and e-clusters have been financed with hopes of improving employment and increasing revenues.

But the results have surprised many. High-potential talent has gone abroad with new business relationships and stayed there. Profit imperatives have driven employment opportunities overseas. The information age and the knowledge revolution have changed the game for technology-based regional development. Flat-world relationships over high-bandwidth channels are changing on a real-time basis. The former concepts of infrastructure support have a new context.

Home-based resources are spent to encourage businesses to compete in the global economy. The challenge, to policy makers and program leaders, is to capture local returns on the investments made locally intended to reach globally. The Innovation Ecosystems Initiative is studying flows of people and resources in technology-based companies – to identify the infrastructure requirements, inflection points and succdess metrics – and to build a new model to guide policy and intervention decisions. Professionals from Paris, Finland, Norway, Malaysia, Tokyo, Britain, Barcelona, Paris, and the United Arab Emirates agree that new concept are needed.

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