Regional Innovation Ecosystems - Milken Institute · 2014-06-20 · Regional Innovation Ecosystems:...
Transcript of Regional Innovation Ecosystems - Milken Institute · 2014-06-20 · Regional Innovation Ecosystems:...
Regional Innovation Ecosystems: The Role of the University in Fostering Economic Growth
Ross DeVol
Chief Research Officer Milken Institute
Caltech | Giant High Level Forum, Leading Innovation Ecosystems 10/14/2013
Presentation overview • Long-term regional growth process • Regional economic innovation ecosystem • Measures of the university role
– Technology transfer – Human capital formation
• Silicon Valley: a case study in innovation • University innovation policies and culture to foster
economic success
Long-term regional growth process
• Large regional differences in growth • Few barriers to flow of economic activity • Export-intensive activity is critical • Manufacturing is an export sector • Healthcare services can be an export
Factors affecting disparity in regional growth • Existing industrial structure • Cost of doing business:
– Tax rates, capital costs, wage rates, space costs, energy costs, health care costs, etc.
• Labor force skills, access to markets and capital • Research, development and innovation capacities • Quality of place issues
Regional Innovation Life Cycle Knowledge Creation
Technology Transfer
Commercialization Clusters and
Networks
Patents Licenses
Incubation/ Research Parks
Venture Capital
Business Planning
IPOs/gazelles Job Creation
Labor Market/ Graduates
M&A Activity
Economies of Scale
Federal R&D
Industry Consortia and Partnerships
Regulatory Environment
Value - add
Conception Formation
Growth Maturity
Clinical Trials
Regulatory Approval
Industry R&D
Universities and Research Institutions
Product Pipeline
Proof of Concept Testing
Collaborations/ Partnerships
Knowledge Creation
Technology Transfer
Commercialization Clusters and
Networks
Patents Licenses
Incubation/ Research Parks
Venture Capital
Business Planning
IPOs/gazelles Job Creation
Labor Market/ Graduates
M&A Activity
Economies of Scale
Federal R&D
Industry Consortia and Partnerships
Regulatory Environment
Value - add
Conception Formation
Growth Maturity
Clinical Trials
Regulatory Approval
Industry R&D
Universities and Research Institutions
Product Pipeline
Proof of Concept Testing
Collaborations/ Partnerships
Knowledge Creation
Technology Transfer
Commercialization Clusters and
Networks
Patents Licenses
Incubation/ Research Parks
Venture Capital
Business Planning
IPOs/gazelles Job Creation
Labor Market/ Graduates
M&A Activity
Economies of Scale
Federal R&D
Industry Consortia and Partnerships
Regulatory Environment
Value - add
Conception Formation
Growth Maturity
Clinical Trials/Prototype
Regulatory Approval
Industry R&D
Universities and Research Institutions
Product Pipeline
Proof of Concept Testing
Collaborations/ Partnerships
New Economy Strategies and Milken Institute
Entrepreneur
Research and Development Inputs Composite Map 2013
Risk Capital and Entrepreneurial Infrastructure Composite Map 2013
Human Capital Investment Composite Map 2013
Technology and Science Workforce Composite Map 2013
Technology Concentration and Dynamism Composite Map 2013
State Technology and Science Index Composite Map 2013
Per capita income & Tech and Science Index Income relative to working age population
WYWVWI
WAVT
VAUT
TXTN
SDSCRI
PAOR
OKOHNY
NVNMNJ
NHNE
NDNC
MTMS
MOMNMI
MEMD
MALA
KYKSIN
ILID
IAHI
GAFL
DECT
COCAAZ
ARAL
AK
55
50
45
40
35
30
25
$US Thousands
ActualPredicted
Measures of the university role Tech transfer
• Role of national innovation policies • Faculty research quality • Incentives and culture • Human capital investment in OTT • Absorptive capacity of regional ecosystem • Measures on commercialization outcomes
9. University of Washington
1. Harvard University
21. Massachusetts Institute of Technology
30. University of Toronto
23. Universites de Paris (I-XIII)
3. University of London
2. University of Tokyo
6. Univ of CA, San Diego
5. Univ. of Pennsylvania
7. Johns Hopkins University
10. Univ. of CA, Los Angeles
8. Washington University
29. SUNY at Yeshiva University
28. Univ. of NC at Chapel Hill
22. Univ. of TX at Dallas
27. Cornell University26. Case Western Reserve University
25. Univ. of CA, Berkeley
24. Columbia University
12. Stanford University
11. Yale University
13. Rockefeller University
14. Univ. of WI, Madison
16. Baylor College of Medicine
18. Duke University
19. Osaka University
20. Kyoto University
17. Univ. of Oxford
15. Univ. of Cambridge
4. Univ. of CA, San Francisco
University biotechnology publication ranking Top 30
Top 10 11-20 21-30
29. Yeshiva University
11. Harvard University
28. MA Institute of Technology
8. Univ of CA, San Diego15. Univ. of Pennsylvania
3. Johns Hopkins University
23. Univ. of CA, Los Angeles
22. Washington University
5. Cornell University
7. Univ. of CA, Berkeley
6. Columbia University
4. Stanford University
18. Yale University
9. Univ. of WI, Madison
2. Univ. of CA, San Francisco
27. Univ.of Minnesota
29. Univ. of Chicago
1. University of Texas
16. Rockefeller University
20. Thomas Jefferson University
26. University of Utah
17. CA Institute of Technology
30. Univ. of Alabama
25. Univ. of British Columbia
10. University of London
12. Hebrew Univ. of Jerusalem
13. University of Michigan14. McGill University
19. Univ. of Melbourne
21. Tel-Aviv University
24. University of Oxford
University biotech patent ranking Top 30
Top 10 11-20 21-30
University technology transfer and commercialization index Top 10
Rank Institution Name
PatentsIssuedScore
LicensesExecuted
Score
LicensingIncomeScore
StartupsScore
OverallScore
1 Massachusetts Inst. of Technology (MIT) 95.17 79.89 90.64 100.00 100.002 University of California System 97.26 85.25 95.16 83.24 96.593 California Institute of Technology 100.00 70.77 87.12 86.60 92.944 Stanford University 91.56 84.28 93.76 77.02 92.655 University of Florida 84.82 71.41 92.57 69.26 86.116 University of Minnesota 78.92 77.46 91.02 69.24 85.557 Brigham Young University 66.87 80.60 86.13 77.57 85.418 University of British Columbia 74.36 74.09 82.73 77.42 84.239 University of Michigan 82.70 72.25 77.98 74.89 82.54
10 New York University 73.68 63.30 100.00 58.16 81.63
U.S. university licensing income
Actual vs. fitted
Universities in Descending Order
60
50
40
30
20
10
0
US$ Millions
Actual ValuesFitted Values
Conclusions: national innovation policy and culture
• Commitment to financing university research • University mission must include commercialization • IP protection system is important • Industry involvement critical to success
Conclusions: national innovation policy and culture, cont’d
• Entrepreneurial support and financing key • Human capital investment essential • Biotechnology cluster formation promotes national success
Conclusions: university level findings
• Faculty – Research capacity – Entrepreneurial incentives and culture – “Star Scientist”
Conclusions: university level findings, cont’d • OTT
– Professional OTTs generate high returns – Age of OTT office (networking effect) – Critical mass required for returns – Absorptive capacity of regional ecosystem significant – Exclusive licensing important for spinouts and startups – Without OTT, commercialization occurs, just not as
efficiently
Real GDP per capita of U.S. metros Actual vs. predicted, 2010
Share of employment in human capital intensive occupations Top 10 among the largest metropolitan areas (2006–2010)
01020304050Percent
Patents and GDP per capita In 261 U.S. Metropolitan Areas
Sources: U.S. Bureau of Economic Analysis, Moody's Analytics, Science-Metrix, Milken Institute.
10
20
30
40
50
60
70
80
-6 -5 -4 -3 -2 -1 0 1 2 3Patents per thousand people (ln)
Real GDP per capita (US$ thousands)
Conclusions: Technology transfer
• Gaps remain between research quality and commercialization outcomes
• Commercialization increasing over time • U.S. tops in research and commercialization • Other countries making sizeable investments
1) Make higher education more affordable 2) Make higher education more accessible 3) Increase higher education graduation rates 4) Strengthen coordination between higher
education institutions and industries 5) Promote research and development
Conclusions: Human capital formation