Welcome to the live blog of today’s UNM Economic Development Summit! If you’re following today’s event on Twitter, you can find us at #unmecon.
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UNM Economic Summit, Morning Session
UNM Economic Summit, Hwang Keynote
UNM Economic Summit, VC Panel and Education
UNM Economic Summit, Panel on National Labs
Victor Hwang talks about his views on spurring innovation and how economic development can benefit from this collaboration. http://youtu.be/ORJEk4a-OXI
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Thank you for joining us at the UNM Economic Development Summit today. Bookmark this spot. We will follow up as UNM tries to make this more concrete.
Paul Hommert — SNL
We do 160 million a year in discretionary research, and I don’t think we always make that as visible as possible. I think we have the building blocks, but we need to work with that.
3. One research paper, “A New Paradigm for Economic Development: How Higher Education Institutions are Working to Revitalize Their Regional and State Economies” by David F. Shaffer and David J. Wright discusses a 2006 study done for the U.S. Department of Commerce by the State Science and Technology Institute found that universities that had been successful in “launching and supporting knowledge economies” shared most or all of the following characteristics:
• Research leadership in area of inquiry relevant to their particular regional economies.
• A “cadre” of nationally prominent faculty.
• Leadership that sees economic growth as a priority, and that links effectively with business leadership in pursuit of that objective.
• The physical infrastructure needed to support research and technology development – labs, equipment, classrooms, research parks, conference facilities.
• And the politics and legal flexibility needed to facilitate the commercialization of research outcomes.
4. This paper, “A New Paradigm for Economic Development: How Higher Education Institutions are Working to Revitalize Their Regional and State Economies” has some nice case studies that demonstrate how research universities and community colleges can work together to fill different parts of a mutual goal. One way for states that are not competitive in the siting of new major companies from outside the state is for state leaders to give priority to “growing our own.” That means strengthening existing businesses and spawning new ones.
5. What are the basic elements needed to make cities thrive? In one of several background papers for the UNM Economic Development Conference, Tom Murphy a Sr. Resident Fellow for the ULI Klingbeil Family Chair for Urban Development lays it out.
• Cleanliness and safety “Efficient delivery of basic services, including security, cleanliness and basic competency in government is essential.”
• An educated workforce “Beside providing for safety, the single most important service
That governments can offer in partnership with other institutions is education.
• Cost of living and quality of life “In addition to the availability and skill set of the local workforce, the underlying cost of living plays a role in encouraging new business and innovation.
Read more about what makes cities work in Building on Innovation – The Significance of Anchor Institutions in a New Era of City Building.
Col. Bill Cooley — AFRL, Phillips Research Site and Materiel Wing Director
We need to build an organic infrastructure between the federal labs and the university and it needs to happen one to one on an individual level between faculty member and scientists. It needs to become part of our culture.
David Hardy — AFRL, Space Vehicles Directorate
We need to increase our workforce diversity in the science and engineering fields. UNM can play a strong part in this. The UNM nanosat program is important. He thinks Michigan Tech is a good model to replicate.
Are there barriers to collaboration at universities?
Paul Hommert– The stronger the universities in New Mexico are, the easier the collaboration. UNM and Sandia need to look at collaboration at a very focused level, and we need to pay more attention to what is happening in Santa Fe.
Paul Hommert — SNL
We are working much more closely with a number of different UNM departments and schools and we are now interested in working more with cybersecurity. There will be much more opportunity for collaborations in the future.
David Hardy — AFRL Space Vehicles Directorate
We are working directly with UNM, and the Provost at UNM has allowed them to have a voice in faculty hires because they want to pursue a much closer collaboration..
Col. Cooley on university collaboration — grants that come through scientific research haven’t changed. One thing that does change is that educational partnerships open up opportunities for UNM faculty to collaborate with our scientists and engineers. This enables increased cooperation, getting people more specifically tied to the research we are interested in.
Marquez on LANL’s culture, “We are MECCA, we’re used to people having to come to us. We’re having to learn new words these days -(such as) ‘collaboration’”
Col. Bill Cooley, Phillips Research Site and Materiel Wing Director
Believes this summit and talking about how to break down research labs and academic barriers is an excellent step for Albuquerque, but the barriers need to be broken down quickly. He says his organization will probably see less money in the future, no matter what happens with sequestration, so it is more important than ever to develop better bridges into the research universities.
Paul Hommert — director Sandia National Labs
They are waiting to hear whether there will be sequestration in Congress, and Sandia is in hold for hiring, but he believes there are many things that will drive continued expansion at the lab.
National Labs Panel
Richard Marquez — LANL Executive Director
The potential for sequestration is more bad news. But they feel they can handle it within their current plan.
The link for the white papers about research and economic development is located at http://econdevunm.unm.edu/summit2012.cfm, the link below doesn’t work.
The panel is currently discussing the impact of venture capital in New Mexico and how the state and private industry play a role in this and improving the perception of the state in venture capitalists eyes.
There are links to a number of papers that explore Research Universities and Economic development at the conference website at http://econdevunm.unm.edu/summit2012.c
Larry Sklar discusses research from a faculty point of view. As a faculty member he has worked to commercialize his patents because he sees the benefit to the community — and the thrill of going from drug discovery to application.
Schaefer discusses how to stop unrealistic board expectations from derailing the growth of a company. They discuss how IntelliCyt faced, and avoided problems with board expectations.
If you want to become part of the conversation, the comment section is located just below the live blog!
R. Terry Dunlay on what attracted him to starting a new company in N.M. — A lifestyle change, great climate and cost of living. After looking into the benefits here, technical talent, availability of start up funds, there are things here to develop infrastructure for economic development.
Rainforest in the Desert Panel
Lisa Kuuttila — STC.UNM President and CEO, moderator
Larry Sklar — Director and CEO UNM Center for Molecular Discovery
R. Terry Dunlay — President & CEO IntelliCyt Corporation
Michael Schaefer — Managing Director NM Community Capital
Hwang — Innovation ecosystems and economic rainforests help us by inspiring what makes us human to succeed.
Roots before branches. Nurture the roots and allow growth of the economy.
Tools to Build Economic “Rainforests“
1. Learn by Doing
2. Enhance Diversity
3. Celebrate Role Models and Peer Interaction
4. Build Tribes of Trust
5. Create Social Feedback Loops
6. Make Social Contracts Explicit
Hwang says in the right circumstances trust can become a free flowing currency. People learn the behavior by doing it. So conferences like this are a good start, but what matters is what comes from it.
Hwang says what’s important is not just “creative destruction” of businesses. What’s much harder, and more important, is “creative reassembly” — the ability to rearrange the building blocks of the company quickly.
Secret of Innovation Ecosystems — the value of innovation is when the business culture overcomes the social barriers in business. Small changes in culture create larger changes in the business.
The rainforest model will depend on how human beings can work together — but invisible walls of different world views, different approaches are big barriers to innovation. Economies thrive when culture overcomes the barriers. Everyone talks about the same things from different angles.
Companies like Google and Facebook used to be “weeds” in the economic rainforest model that were allowed to thrive and become the powerhouses they are today.
Hwang sees the cluster theory of economic development ( which was difficult for New Mexico) breaking down. Instead he views Silicon Valley as a rainforest — where you can’t predict where the value is because they are so experimental and unconventional. Can a rainforest grow in a desert?
Albuquerque Mayor Richard Berry discusses economic development in New Mexico and how universities can play a role. http://youtu.be/Buyik-i2ZYQ
Hwang says human beings are the only species that have the ability to imagine a better future. He wants to help us imagine a rainforest in the desert.
New Mexico has some of the best opportunities — the best mousetraps — so why isn’t the economy taking off?
Dr. Victor Hwang — New Mexico has some of the world’s best opportunities, how can we make them succeed?
1. A Rainforest in New Mexico?
Keynote speaker Victor W. Hwang, a venture capitalist from T2 Venture Capital in Los Altos Hills, California has written “The Rainforest – The Secret to Building the Next Silicon Valley.”
He says to develop networks of innovation you must build tribes of trust. He has a set of rules that entrepreneurs and investors he works with must sign. They are
• Thou shalt break rules and dream.
• Thou shalt open doors and listen.
• Thou shalt trust and be trusted.
• Thou shalt experiment and iterate together.
• Thou shalt seek fairness, not advantage.
• Thou shalt err, fail and persist.
• Thou shalt pay it forward.
To read his white paper, go to http://econdevunm.unm.edu/RainforestWhitePaper-Hwang.pdf
NM Tech President Lopez says they are looking at increasing their academic support for Cybersecurity because India has a great demand for that expertise and NM Tech is interested in attracting graduate students for UNM.
President Lopez from NMT is talking about the importance of providing energy studies research for China and cybersecurity studies for nations like India.
UNM President Frank says UNM is talking about the need for the College of Public Health — with graduate degrees offered.
India’s expected to outpace China’s number of graduate students coming to the United States, according to NMSU President Couture.
NM Tech President Dan Lopez says many of his students want to start their own businesses. They want to become part of the business community rather than working for others. Other students want to focus on research — to create and innovate.
The presidents of the three New Mexico research universities, Robert Frank from UNM, Barbara Couture from NMSU and Dan Lopez from NM Tech are in a panel discussion.
Couture says students she works with are seeking a full range university experience. They want to know how to apply their skills in the real world. She says her job is to prepare them for living in a world of uncertainty.
Mayor Berry’s asking if we can have an honest and candid conversation about the state’s tax structure and the impact that has on businesses relocating. He also points out that people need to know about New Mexico. Business site selectors don’t know much about the state, we all need to promote the state.
Berry says we need to have a candid conservation about our weaknesses. Should we be a right to work state? That’s what business leaders he is working to recruit ask, before they consider other things. He also continually hears “We don’t know who you are.” He says we have to sing our own song.
Albuquerque Mayor R.J. Berry says NM has a pipeline of postgraduate talent — and wants the conversation among universities and business people to continue in the weeks to come. He wants to hear more about what he should be doing for economic development.
UNM graduate, and Albuquerque Mayor, R.J. Berry’s addressing the audience — “The fact that you are in this room means you matter. Everyone in this room has a part to play” in New Mexico’s economic development.
Remember, if you want to join the conversation the comment section is located below the liveblog!
Governor Martinez notes NM currently spends $27 million for remediation classes for students who enter public universities — to teach them things they should already know.
Gov. Martinez on the importance of preparing high school students for college — “We need to send you students who are competent and prepared.”
One way to alter the economy is for New Mexico’s three research universities, UNM, NMSU and NMTech to connect more closely with their local community economies. Governor Martinez encourages much closer cooperation between universities and local business communities.
Gov. Martinez is talking about the research triangle in North Carolina and the role that universities played in its development and how that can happen here. New Mexico’s universities train graduates, create a well trained workforce, which will lead to better paying jobs.
Governor Martinez is discussing how NM is now competing in a global marketplace and some of the realities that NM is facing. Including how the state should be encouraging businesses to relocate to NM.
Governor Susanna Martinez has taken the podium and congratulates President Frank for opening the discussion about the role of research universities in economic development. She says NM needs to reevaluate the way we do business.
Does New Mexico have a welcome mat or no trespassing sign for business?
More than 300 people are gathered in the UNM Student Union Ballroom to talk about the role of research universities in economic development in New Mexico. UNM President Robert Frank is welcoming the group and discussing research universities and the way they work with their communities. He is asking for ideas and help in implementing ideas.
Thanks for joining us today! It’s a packed house at UNM’s Student Union Building for our Economic Summit!