State and Local Business Taxes for the United States as a public investments, and economic growth Public investment and state economic development, specifically in the areas of avoidance strategies remain legal, most multi-state businesses with Their analysis, relying on an input-output model. Each state will promote ZEV market growth in ways that right business model(s ) and build out a viable fueling infrastructure; . 2 National Academy of Sciences, “Overcoming Barriers to Electric Vehicle Deployment,” Interim Report, policies, reflecting a multi-stakeholder and whole-of-government approach to policy Digital trade is creating new economic opportunities, allowing firms to access new markets, New digital business models are creating new job and income . Digital Economy: Innovation, Growth and Social Prosperity.
Growth Model National Multi-State a Building Business for and
A business evaluation provides an analysis of your business carried out on-site by an independent and skilled business adviser. At no cost to your business, a skilled business adviser or facilitator will work closely with your business to offer practical ways to:. Tourism partnerships provides groups or consortiums of tourism businesses in northern Australia with access to an experienced business facilitator for up to 12 months to facilitate and encourage joint activities to assist the group or consortium to increase visitors from interstate and overseas.
The group will create a tourism partnerships action plan so they can identify opportunities and strategies to improve capability and competitiveness to increase visitors from interstate and overseas. Business growth grants are small grants to engage external expertise to help you implement the recommendations in your plan.
It is not intended to support fixes for problems that are part of ordinary, everyday operations of your business. The grant period is 12 months. For each business management service you receive, you may only apply for a single grant to implement some or all the recommendations in your plan.
You cannot use funding from other Commonwealth, state, territory or local government grants to fund your share of eligible project costs. The Incubator Support initiative provides grant funding to incubators to deliver support services to Australian start-ups with an international focus. Grants are available to support the establishment of new incubators in regions or sectors with high innovation potential, and for existing incubators looking to expand their services.
Funded incubators will deliver a range of activities designed to improve the prospects of commercial success of innovative start-ups, allowing them to realise their economic potential faster than they otherwise would. The Incubator Support initiative provides grant funding through two components to deliver Incubator Support projects, both of which require a funding contribution from applicants.
Incubator Support - Expert-in-Residence. Expert Innovation Facilitators work with your business to identify knowledge gaps that are preventing your business growth. The outcome is an Innovation Facilitation Report. Innovation Facilitators will also provide a report with possible solutions to your problems and referrals to other research and industry programmes. If you chose to implement the suggestions in the report and would like to work with a research organisation, you can apply for an Innovation Connections Grant.
Entrepreneurs' Programme learning events deliver targeted and tailored events and activities to Australian businesses to address learning challenges and gaps, encourage peer-to-peer networking, and facilitate a deeper engagement to embed skills and learnings. You can contact the learning events team with any questions at eplearningevents industry.
A strategy of some states is to support state innovation councils, as seen in Idaho, Hawaii, Colorado, North Carolina and Iowa. Others use regional economic innovation intermediaries. The strategy is to find new sales opportunities and expand on old ones by providing free or low-cost tools and information to small businesses. He closed by commenting on the abundance of resources already developed in Arkansas, all of which indicated strong leadership and a collaborative spirit.
Innovation to Enterprise i2E , said Mr. With offices in Oklahoma City and Tulsa, it focuses on technology commercialization services and capital acquisition by helping small firms develop:. Bendis, he said that i2E focuses on just one of the legs: The goal of i2E, he said, is to create more companies.
So we are absolutely driven to create more companies. When you're a flyover state, you have to do it better, smarter, and quicker, and we are a flyover state.
If you don't create wealth you don't attract capital. He observed that VC firms had become more risk-averse, funding larger deals for firms that had already validated a product in the marketplace. Early-stage firms had to depend more heavily than before on angel capital and state initiatives for proof-of-concept financing. To increase the number of successful small firms, his organization collaborated with universities to provide commercialization services, including assistance in marketing, finance, and competitive strategies.
The goal was to teach young businesses how to gain access to capital, good management, and networking. One was a Tulsa company called Access Optics, which had developed a technique of attaching sapphire lenses to optical devices used in surgery.
Access Optics had discovered that its devices eventually wore out through repeated sterilization by steam and pressure.
In another case, OCAST helped a faculty member at Oklahoma State University found a successful firm based on his research using infrared light to diagnose prostate cancer. The researcher did not have the technology he needed to develop his idea, and had never worked with the private sector. OCAST linked him with a firm that had expertise in the area, and the firm was able to develop a new subassembly device using fiber optics, nanoparticles, and the professor's technology.
Because many other companies were working on prostate cancer, it shifted to pancreatic cancer, and succeeded in adapting the technique. The company has now developed a two-stage plan to sell the device to a larger medical company and then to market its own product independently, adding 15 to 20 more employees in the next two years.
Another i2E activity was to promote commercialization services, and it had formed a company called Seed Step Angels, a member of the American Angel Capital Association. In the previous six months the group had grown from zero to 25 members, and its objective was to convert promising ideas into sustainable commercial entities.
I2E was now attracting more people who wanted to develop inventions. A young doctor from the University of Oklahoma had approached Mr.
A problem for ambulances during a fast, bumpy ride to a hospital is the difficulty in placing an IV in a patient's arm using a traditional tourniquet. He said that because of the problem of finding a vein under those conditions, 9 to 20 percent of people in ambulances who need an IV do not get them. The device is non-invasive, and so does not require FDA approval, and it is inexpensive.
Thomison noted that in most technology-based start-up companies, the leader and founder is the technician or scientist. As the company approaches commercialization, it must also hire a chief financial officer to position the firm to seek venture capital. This positioning includes demonstrating credible resources and creating a capital plan. The combined companies had developed new products. We are importing net wealth. If you're solving someone's technical problem in Oklahoma, or in Arkansas, you're probably solving the same problem for somebody in California.
If you're really doing advanced technology, it is a global marketplace. Hackwood, the executive director of the California Council on Science and Technology CCST , said she would like to share some recent observations from a state that is known for its science and technology leadership. She said she would begin by describing her organization, and move to some of the initiatives in California that are relevant to Arkansas. Its sustaining members include the three California public systems of higher education and three private universities, 12 with six national laboratories as affiliate members, Among current CCST activities are the following:.
Some things are not going too well. China is the Peoples' Republic of Deferred Gratification. They save, invest, and build. We spend, borrow, and patch.
The most immediate, and lasting, impact of the study, she said, was to raise awareness of the importance of science and technology in the state's economy. One significant need, she said, was for the adoption of a new business model. S hegemony in markets; and a proliferation of venture capital worldwide. Your static website channeled your customers to your phone number. And your main market is everyone on the planet.
Your inefficiencies are discreetly outsourced. We have moved away from the closed innovation model of the 20 th century and are close to an open innovation model. Open innovation is very big, very different, has more players, and things can go in all directions. CCST had therefore initiated a new study, the results of which would be offered to the new governor and legislature of California early in This report will engage business and industry, the pre-K schools, colleges and universities public and for-profit , federal research laboratories, non-profit research institutions, and the public policy sector.
It will provide a roadmap to help guide effective investment, avoidance of roadblocks, and support of California's innovation ecosystem. The report was not yet finished, but she offered four key areas of emphasis that had changed significantly in the last decade. Should California look outward to connect — e. In health care , she said, the new focus is on the personalization of care and on a data management infrastructure.
The complexity of the model is completely different. No game-changing drug has come onto the market in the last 10 years. In addition, health care is being transformed by an explosion of new tools and technologies, she said, and doctors are overwhelmed by large amounts of data.
Another area of emphasis, she said, is the growth of technology innovation at global scale. Of primary importance are the challenges of workforce retention and workforce competitiveness. California is not so much falling behind as other people are running faster. California-specific issues holding back innovation include poor K education, tort and labor laws, and regulatory control.
But now we are becoming merely brokers. The education system is another area of focus, she said, because of several negative phenomena. She cited a figure from CPEC Fiscal Profiles, , comparing state funding for the university system with state funding for the corrections system.
The percentage allocated to the universities dropped from The percentage allocated to the corrections system rose over the same period from 4 percent of the budget to 9. In addition, the for-profit colleges are changing higher education's landscape, gaining a fast-growing share of enrollments. She reported that the University of Phoenix had just passed California State University to become the second-largest higher-education system in the country, with , students as of February They are providing services students want.
What students want is mobile technology. They want to work and learn anywhere, to integrate communication with content and collaboration. To them, social networking is the new learning community, the new community of practice. Much later, and on a much larger scale, came the Wal-Mart chain of stores, which were innovative in quite different ways.
The chain began with Sam Walton's first establishment in Rogers, Arkansas in Several years later it launched an innovation that had much to do with its success — the pioneering practice of keeping track of inventory by computer.
By the s, the company had the largest commercial computer database in the United States. A subsequent innovation was the decision to build its own warehouses so it could buy large quantities of goods at low prices and keep them ready for delivery to its stores on short notice. This scheme also reduced the company's significant shipping costs. Today, Wal-Mart is recognized as the world leader in managing supply chain logistics.
Such innovations have led to worldwide growth — and local benefits. More than 1, suppliers have opened offices in the state since the mids. In February it issued a well-publicized pledge — made jointly with the Environmental Defense Fund — to eliminate the equivalent of 20 million metric tons of greenhouse gas emissions from its global supply chain by the end of Gregory described other innovative institutions in Arkansas, some new and others newly repurposed.
In partnership with researchers from other government labs, academia, and industry, it develops, refines, and applies current and emerging technologies to improve safety evaluations of FDA-regulated products.
The Arkansas Economic Development Commission, also formed in the s, had recently assumed a much larger role that expanded beyond manufacturing to include service and high-technology industries. Today its mission is to create strategies that produce better-paying jobs, support communities, and support workforce training.
With an expanded focus on technology-based businesses, it provides special economic and tax incentives to private sector employers that emphasize, among other technologies, clean energy, computer technology, telecommunications, and power grid management.
The Arkansas Biosciences Institute, a research program set up with funds from the Arkansas Tobacco Settlement Proceeds Act of , is a partnership of scientists from universities, hospitals and medical schools.
Its mandate is to conduct agricultural research with medical implications, bioengineering research, tobacco-related research, nutritional research, and other related research. A statewide Task Force for the Creation of Knowledge-Based Jobs, appointed by the director of the Arkansas Economic Development Commission in , was followed a year later by Accelerate Arkansas, a volunteer initiative of business, professional and educational leaders in the state focused on increasing the average per capita income in the state through increased emphasis on building a knowledge-based economy.
Accelerate Arkansas' first significant act was to commission the most extensive study on the Arkansas economy ever conducted.. The study, carried out by the Milken Institute and funded by the Winthrop Rockefeller Foundation, recommended actions necessary to raise per capita income in Arkansas now only about 72 to 75 percent of the national average to the national average by At about the same time, the Arkansas Institutional Fund was implemented as a fund-of-funds to invest in equity of private venture capital funds to support the funds' equity and debt capital investments in small technology-based businesses through their first and second rounds of investment.
By , Accelerate Arkansas was ready to firm up its strategic plan by focusing on five core strategies that have led to significant state-sponsored initiatives focused on building a knowledge-based economy:. Gregory then turned to Governor Mike Beebe's Economic Development Plan, which embraced these strategies and placed them in the context of addressing the state's competitiveness at the national and global levels.
The Plan includes the following goals:. He concluded by comparing these goals with those of a statewide Task Force for the 21 st Century Economy which was created by the legislature in and completed its study and recommendations in that studied the scope of economic development in Arkansas and identified programs and services needed for continued development. He noted that this Task Force's recommendations aligned closely with Governor Beebe's objectives.
They began with human resource development, especially STEM education at all levels, and more specifically with workforce education. The Task Force then called for ways to carry innovation into the marketplace, increase support for entrepreneurship, provide additional risk capital, and focus on increased global competitiveness in recruiting businesses and industries.
They finally called for an increased emphasis on cyber-infrastructure development and innovation by existing businesses. Gregory stated that innovation efforts in Arkansas have evolved from uncoordinated private enterprise-based efforts, to state involvement and encouragement, to the present day public-private sector partnerships throughout the state that seek to accelerate the conversion of the state's economic resources from traditional economic development activities to those focused on expanding knowledge-based jobs and making globally competitive businesses, thereby increasing the standard of living for all Arkansans.
National Research Council, In particular, see Van Looy, Bart, K. Assessing Academic Patent Activity: The Case of Flanders. Towards a Compounded and Reciprocal Matthew-effect? The National Academies Press, forthcoming.
Capitalism, Socialism and Democracy , New York: A cluster is defined by Michael E. The observatory maps clusters in Europe, offers educational resources, and promotes the concept of clusters. It lists 38 different categories of technology and business clusters.
In addition to the Biopolis and Fusionopolis in Singapore, Asia supports many parks, some of great size. Zhongguancun Science and Technology Zone, in Beijing, supports more than 12, high-tech enterprises in seven separate technology parks. For a review of northeast Ohio's regional development programs, see Edward Hill et al.
Urban and Regional Policy and Its Effects, vol. Brookings Institution Press, , pages National Academies Press, forthcoming. Various versions of the Bowie knife, designed in by Col.
James Bowie, had blades ranging from six to 24 inches in length. Bowie gained fame when he used an early version of this lethal innovation at the so-called Sandbar Duel, where he killed three men. Subsequent to the National Academies meeting, the FDA and the state of Arkansas in entered into a Memorandum of Understanding, the first in the nation between the FDA and an entire state, focused on harnessing the relative strengths of the NCTR in toxicological research and the research resources in Arkansas' higher education research institutions, in a collaborative effort, including creating a virtual Center of Excellence in Regulatory Science, to provide a model for the nation that brings industry, academia and government together to solve societal problems.
Turn recording back on. National Center for Biotechnology Information , U. Affiliations University of Arkansas at Little Rock. Affiliations The National Academies. Responses to the Innovation Challenge Leading nations everywhere are responding to the innovation challenge in similar ways, he said, seeking to provide four essential mechanisms for economic growth: Trading Partners He then described in more detail the innovation strategies of several U.
A more direct focus on commercialization through centers of excellence, a Sustainable Development Technology Fund, and efforts to develop innovation clusters around federal laboratories.
The federal government has played this role for more than two centuries, he said, citing the following examples: In , the government made a grant to Eli Whitney to produce muskets with interchangeable parts, leading to the first machine tool industry. In , the Wright Brothers fulfilled the terms of an Army contract by demonstrating the first airplane.
In , the National Advisory Committee for Aeronautics helped the rapid advance of commercial and military aircraft technology. Navy, with a dual commercial and military rationale.
During the s, s, and s, the federal government was a leader in developing jet aircraft, semiconductors, computers, satellites, and nuclear energy. Suboptimal Investments and the Valley of Death A key challenge for the United States, he said, is how to capitalize on investments in research.
Technology Innovation Program TIP The Technology Innovation Program at the National Institute for Standards and Technology seeks to accelerate innovation by supporting high-risk, high-reward research in areas of critical national need.
You might also be interested in
Building the Arkansas Innovation Economy: Summary of a Symposium. In this environment, he said, “we must break away from a pro-business or This includes more money for R&D, an expanded R&E work force (growth of percent One current strategy of the federal government, he said, is to join with states and. But geographic growth involves logistical complexity and management finesse. Dig Deeper: Building Systems to Manage Your Business In European Union member states, the laws regarding the personal use, storage, and Corporate Agility: A Revolutionary New Model for Competing in a Flat World. As you go about developing your growth strategy, you should first consider the market-;offering your product or service to customers in another city or state, for.