I should add that none of the three speakers was from the bio/med field. Don Siegel is dean of the SUNY Albany B-school, Allan Tear is an entrepreneur and founder of Providence Geeks, and Rich Bendis runs Innovation America, a group that helps city-regions develop innovation capacity. But, as I said, the room had a bio/med tilt. And that's what got me excited. 

Here is a whole new wing of the innovation economy that is only just beginning. Where we geeks have had several years head start, the direct university-to-commerce channel is functionally only in the planning stages. In fact, the whole purpose of the Business Innovation Accelerator event was to bring stakeholders together to discuss what RI-CIE can and should (and can't and shouldn't) do. Put another way, the event was trying to innovate ways to accelerate the business of setting up a technology transfer/commercialization center.

The process - he writes with some admiration - was a tightly managed facilitation where breakout groups clustered around pre-determined area: 

• Sector Analysis
• Women Entrepreneurs
• Issues of Technology Transfer (research perspective)
• Issues of Technology Transfer (commercial perspective)
• Gap Analysis: Innovation Businesses vs Main Street Businesses
• Local Conditions Analysis

We ran two rounds of breakouts - the first on obstacles and challenges and the second on workable solutions. In between each round, the large group reassembled and reported back. (Sound familiar?)

Sadly, I had to run out before the second report-back in order to set up for the Providence Foundation's Next Generation project. (More on that as it develops.) 

Regardless, my take-aways are all to the good. Where the geeks leverage RISD indirectly (arts/culture attracting high-knowledge workers), RI-CIE can directly leverage Brown, URI, RI Hospital and any research institution that wants to play. The availability of an innovation pipeline is sure to draw out RI's hidden venture capital and attract out-of-state capital as well.

I understand there's quite a lot of money in this health care thing.

I hope to keep up with this effort and will blog on it from time to time. I have very high expectations for RI-CIE, and with the crew running it and the crew they attract, I think those expectations will be fulfilled.

 

As before, the groups are not necessarily consistent from provocation to provocation.

Provocation 1: In the next economy, place matters more than transactions

Group 1: Confirm: place matters, but table has different perspectives. In regard to the competition of places. "Competition contributes to growth." Place is very good predicter of health outcomes, points into so many other spaces - economy, culture, etc. Question of taxes: cost vs investment.

Group 2: Mixed reaction - Challenge importance of place: internet drives placeless society. Confirm: some people need to try on their shoes, won't buy online. People want experience. The more diverse people we have, the better the quality of life. What is 'whole'? A situation where the various parts - culture, economy, ecology, arts, etc. - are working together. 

Group 3: Confirm: concept of 'happiness' studies - trust is crucial. Trust in RI is very low, esp in government. Even people in government say "It's RI. It's screwed up." As if it's our natural, inevitable state. -- Discussion of how difficult it is to do something that make Providence more 'whole'. But are we really that different from other places? New Orleans, Chicago, New Jersey? Formerly, an ombudsman helped manage regulatory environment for developers, but she died and was never replaced. 

Provocation 2: There is no separate creative economy

Group 1: Discussion - Industrial mindset destroys creativity countered with comment that manufacturing is still as large as ever in the US and in RI. 

Group 2: Add to: entrepreneurs need to find new ways to get things done, high level of creativity is a requisite, not an option. 

Group 3: Confirm: every economy has to be creative to survive. Also Challenge: is 'creative' really the best metric. Slave economy was 'creative' but didn't work for everyone.

Group 4: Challenge service 'with grace and in community': service sector is not in a creative place, especially in terms of front line workers. In some orgs/companies, the closer you get to the customer, the lower your pay.

Provocation 3: We are already at the beginning of the next economy 

Group 1: Partial challenge: How high can RI build given geology? More constrained by zoning, but zoning will have to change to meet growing infill needs? 

Group 2: Challenge infill needs: do you need to build more infill or save that for greenspace? 

Group 3: Challenge regionalization: how far down the specialization chain can you go before regionalization breaks down? 

Group 4: Challenge: Should we be talking about 'next' economy or the 'inclusion' economy? Manufacturing vs service economy - as if the one dies and the other is all that's left. 

Note: Groups are not necessarily in the same order from provocation to provocation. Also, see the post below for complete provocations. 

Provocation 1: Providence is the hub a regional economy that includes 3 states

Confirm, challenge or build on. Six minutes of small group discussion.

Group 1: Theory or reality? Current practices don't align with that statement. Why does Providence need to be the hub? Is hub the right word? Endup: Challenge of word "hub"? (offered alternative: node and links AOT hub and spokes) How do you establish the power to define "healthy mix."

Group 2:  Challenge: 'easily replaces imports with regionally made options' - sometimes, others can do things better than we can.

Group 3: Because of geography, our hub is off-center, our wheel is incomplete. /separate thread/ Economy is 3-dimensional with car-based mega-economy intersecting with smaller, local economies. 

Provocation 2: Some sectors are more important to a regional economy than others 

Group 1:  Challenge example of IT: cluster develops because region is supportive of that kind of creativity. Like minded people drawn to a region, artist or IT developer. Also challenge argiculture as central: so many fewer farmers, so much less local agriculture. Concept seems outdated. 

Group 2: Challenges agriculture as central: is it really about the hinterlands, or is ag moving to a more urban approach? Is ag really so place-based? Farm workers are mostly mobile. Capital can cross borders, but workers can't? Also challenges IT as placeless: our IT sector is all about community. Why does a place need to draw these "special" people? Why do economies have to 'compete' with each other? 

Group 3: Challenges example of IT: those workers want to be with similar people, go to where they congregate. On agriculture: to strengthen a place define 'what speaks to whom' in terms of stationary and mobile resources. Displacement of farms by other resources - major institutions are built on old farms.

Group 4: Challenges whole thing: too black-and-white. If not for IT cluster (web developers), who would know about the farmers market? 

Provocation 3: “Buy Local” programs are essential for a healthy regional economy 

Group 1: Challenge: should create a strong buy local vibe, not put ads on TV telling people what to do. Put the positive vibe out, don't bang people on the head. Why in Providence in the 90's? It has one of everything I want.

Group 2: Add to: Another logo isn't the answer, needs to be informational. Also, program should provide platform to support (shared website for farms, like FFRI). Providence is lucky without a major strip mall neighborhood, and a maker culture. Buy local tends to focus on foods, what about other sectors. People's Power & Light stresses local/regional distributed generation. Centralized generation is far less secure. In food, CA central valley will have/is entering a major water shortage. That will effect us. Will we be ready? Will one region be able to make up for another region's failure?

Group 3: Observation: Talked more about the buy local experience, not the 'ad campaign. 

 

 

Round 1: What is the Next Economy?

Provocation 1: Providence is the hub a regional economy that includes 3 states

Jane Jacobs, in The Economies of Cities, argues that healthy city regions are the most viable economic unit. City regions are not just about geography, or about exporting, or serving as the tourist attraction.

Rather, a city region:
•    Readily replaces imports from far away with locally/regionally produced goods and services
•    Engages in reciprocal trading among regional trading partners
•    Holds community and community building as central
•    Makes entrepreneurship the core driver of vitality
•    Provide diverse services and products – a healthy mix with no single engine/cash cow

As economic entities, city regions don’t have to respect state lines. Providence is the hub of the Southern NE city region that includes southeastern MA, parts of central MA, eastern CT and even the Cape and Islands. Our regional economy will not thrive if it is seen as confined within the borders of Rhode Island.


Provocation 2: Some sectors are more important to a regional economy than others

Not every economic sector can contribute to a regional economy in the same way, nor can every sector benefit in the same way.

Local agriculture is key to a regional economy because it draws concentrated urban income out to the broader region where farmland is located. On the other hand, because so much of IT work is essentially placeless, that sector will contribute minimally to the evolution of a regional economy.

Provocation 3: “Buy Local” programs are essential for a healthy regional economy

Money spent in the local economy has a powerful effect. Of each dollar spent at Starbucks, 38 cents circulates locally. That same dollar at an independent coffee shop circulates 73 cents locally, or almost twice as much.

But consumers often equate buy local with limited choice. Also, consumers may be apprehensive about trying new products or brands whose quality is unknown to them.

Official “Buy Local” programs are essential to educate consumers about the availability and quality of local products, and to communicate the benefits to the regional economy.

Round 2: What Needs Doing?

Provocation 1: In the next economy, place matters more than transactions

21st century economies require place to be at the center. Villages and cities are natural incubators of entrepreneurs and entrepreneurial companies because their density creates an atmosphere where ideas can circulate, combine, divide and, eventually, combust.

But not all cities and villages attract and hold entrepreneurs equally. More and more, overall quality of life is the factor by which potential locations are judged. Creating an attractive regional economy requires an expanded understanding of place that includes economy, ecology, culture, community people and geography. In this way culture, people and land become mutually dependent.

Put another way, the more Providence becomes a whole place, the more it will drive its transactional economy.

Provocation 2: There is no separate creative economy

There is no creative economy that exists or will exist apart from the overall economy. Creativity has been vital to our economies throughout the world since day one.  The creative economy, even the knowledge economy is not the next economy.

Instead creativity will be infused across the board to bring back and enliven all 3 of our historic economic eras:

•    Grow food in new ways and in new places
•    Make things that are smarter and smaller
•    Serve people with grace and in community

Provocation 3: We are already at the beginning of the next economy 

Almost any activity could be a path to the next economy because almost everything needs innovation. The overall challenge with everything we do next is: when we innovate, how can we source it or sell it regionally? Whatever “it” is.

All of these economic needs require innovation and could have or already do have a regional component:

•    Make things smaller and smarter so we use less and reduce waste
•    Oil supplies are past peak: build local renewable energy facilities
•    Make water – we are going to need it 
•    Energy retrofit existing buildings - 50% of current buildings will last 25+ years
•    Make more houses for more people in tighter spaces
•    Community activists, artists, and immigrants are becoming small-increment commercial developers
•    Most places have too many cars; create new on-demand forms of transit: bicycles, Pedi-cabs and so on
•    Place-defining experiences in neighborhoods: coffee houses, green grocers and boutique hotels….new public places for public meandering and public conversation
•    Develop adult literacy education for immigrants without grants
•    Alternative education and afterschool programs for at-risk youth

To reach the next economy, we do not need to create new industries, new companies, or new markets. We simply need to take the economy we have now, the needs for innovation we have now, and regionalize as much as possible.

WCSWANS, New Commons and the Sassy Ladies Help Women Connect On-line and Off-Line:

May 21st, from 6:00 - 9:00 PM at  McGovern’s on the Water in Fall River, MA

A great way to make it though the current economy is to find new ways to connect people and ideas. Connecting people and ideas is also a common goal of both Women’s Club SWANS and New Commons . So they have joined together again with that goal in mind to create another fun event for women.

While the event is about connecting in person, the topic is about connecting on-line. Maureen Umehara, Director of WCSWANS, states "Similar to WCSWANS, Social Media Networking is such a great way to connect with friends and/or business associates! We are excited to join with New Commons (who offers great exercises for helping people to actively learn, connect and create new ideas) to present such a relevant subject"

The topic of the evening, presented by Michelle Girasole of the Sassy Ladies , will be “Making Connections On-line and Off-line.” In her presentation she will shed some light on social networking sites such as Twitter and Facebook. Maureen indicates,

I’ve met Michelle several times and was impressed with her warmth, knowledge and presence. As part of the Sassy Ladies, she’s able to help people learn in a fun way! As an added treat, Michelle Gonzalez of New Commons will also do an interactive exercise on our personal networks. Her exercise was so popular at our last event we invited her back!

Women of all ages and backgrounds are invited to attend this educational and fun event. Those women with businesses also have opportunities to promote them. 

Date: Thursday May 21st ;6-9pm 

Location: McGovern’s on the Water in Fall River, MA;Click here for directions

Fee: $20members/$30non-members (includes dinner and presentation/additional fee may apply).

For more info and to register go to www.wcswans.com

 

About Us:

The Sassy Ladies help support and teach women entrepreneurs in a sassy and fun way, through their book, "The Sassy Ladies' Toolkit for Start-up Businesses", their online communities and subscription-based Club website and emails. www.thesassyladies.com

WCSWANS is a social club and networking group for women. We help women meet other women to connect, learn some new things and just have fun! Women with or without a business can benefit from this club and their events. www.wcswans.com

 

New Commons is a progressive Think Tank in Providence that brings thinking into action. www.newcommons.com