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Strategies for ICT-enabled Competitiveness and Job Creation

Strategies for ICT-enabled Competitiveness and Job Creation. March 30, 2011 World Bank ICT Days Washington, DC. The Global Innovation Imperative. Innovation is Key to Growing and Maintaining a Country’s Competitive Position in the Global Economy

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Strategies for ICT-enabled Competitiveness and Job Creation

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  1. Strategies for ICT-enabled Competitiveness and Job Creation March 30, 2011 World Bank ICT Days Washington, DC

  2. The Global Innovation Imperative • Innovation is Key to Growing and Maintaining a Country’s Competitive Position in the Global Economy • Collaboration among Small and Large Businesses,Incubators, Universities, and Research Institutes is Essential • New Institutions and New Incentives, are increasingly important to support collaboration and foster innovation

  3. Innovation Ecosystem Components

  4. Innovation Paradigm Shift

  5. Innovation Capital Invested before commercial success $100,000 - $2,500,000 Seed Capital $100,000 - $250,000 Early Stage $250,000 - $2,500,000 High risk - vital to new innovative companies Scarce for new entrepreneurs Innovation Capital Providers Angels Tech and innovation-based economic development organizations VC’s

  6. Innovation Capital Generates 60 to 80% of net new jobs annually Employs 30% of high-tech scientists, engineers, and computer workers Produces 13 to 14 times more patents per employee than large firms

  7. Innovation Capital Valley of Death POR / Pre-Seed Stage Seed/Start-Up Early Later Angel Groups, IBED, SBIR Accelerators Seed Funds, Founders, FFF Bootstrapping Crowdfunding Venture Funds M&A, IPO Source $0K $500K $2.5M $5.0M Demand “VALLEY OF DEATH” Supply Secondary Funding Gap Funding Gap

  8. Ways To Raise Innovation Capital

  9. Funding & Resources for Innovation Capital

  10. Public Investment In Job Creation *Community Development Venture Capital Association

  11. Innovation Coalition ECOSYSTEM OUTCOMES • Companies • Jobs • Innovation The Innovation Coalition is a collaborative group of innovation-based associations supporting the key elements of the continuum for commercialization and job creation.

  12. The Commercialization “Secret” • Its not about • TECHNOLOGY! • Its about • REVENUE • SCALABILITY • CASH FLOW • PROFITS IN TWO YEARS • COMPETITIVE ADVANTAGE

  13. Summary • Ecosystems advance technology commercialization, innovation, funding and economic growth • Seed and early-stage funding is critical to success • High risk - years to bear fruit • Significant job creation • BIG potential payoff!

  14. NASVF Today – Our Role

  15. NASVF – OVERVIEW • Established in 1995 • Non profit • Headquarters Philadelphia, PA • 175 member organizations • 43 states • Five countries • 800 members • 1/3 Equity funds • 1/3 Public TBED • 1/3 Technology

  16. Publications: innovation DAILY & NetNews Innovation America’s DAILY Innovation Newsletter www.innovationamerica.us FREE NASVF’s WEEKLY Innovation Capital newsletter NetNews www.nasvf.org/netnews FREE

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