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Strategies for ICT-Enabled Competitiveness and Job Creation

The report from the World Bank ICT Days in Washington, DC, emphasizes the critical role of innovation in enhancing national competitiveness in the global economy. It highlights the importance of partnerships among small and large enterprises, universities, and research institutions. New institutions and incentives are needed to foster collaboration and innovation. Key funding sources, including venture capital and angel investors, are crucial for early-stage companies. The document outlines ecosystem outcomes related to job creation, funding strategies, and the commercialization of technology.

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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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