Technology-Led Development

Question 1

the role of the economic developer in tech-led econ dev is to support an _____, or the environment, resources and connections in which innovation can thrive

Answer 1

innovation eosystem

Question 2

many communities want _____ industries because they create ___

Answer 2

high-tech; high paying

Question 3

tech based economic development is based on nine factors:

Answer 3

1. presence of research institutions
2. access to capital
3. support for entrepreneurial development
4. FDI
5. educated and talented workforce
6. state and local commitment
7. established tech structure
8. broadband infrastructure
9. quality of place

Question 4

research institutions =

Answer 4

universities, federal labs, and research facilities, private institutions; these facilities have the desire to convert research to commercialization

Question 5

access to capital =

Answer 5

availability of venture, see, and conventional capital, angel networks, private equity, and government support

Question 6

support for entrepreneurial development =

Answer 6

programs for opening new markets, establishing networks, start-up capital, technical assistance, resources and research facilities, and physical space

Question 7

FDI =

Answer 7

deepens and broadens the capabilities of localized clusters; technology provides access/impetus to innovation

Question 8

educated and talented workforce =

Answer 8

proximity to research institutions help attract and provide a talented workforce

Question 9

state and local commitment =

Answer 9

provide resources like capital, special services, and facilities like incubators

Question 10

established technology structure =

Answer 10

physical and knowledge based infrastructure (physical includes fiber, tech incubators, connectivity, airports, and capacity for growth)

Question 11

broadband infrastructure =

Answer 11

provide internet access

Question 12

quality of place =

Answer 12

diversity in all aspects of life including education, culture and recreation that support different types of people in different stages of life

Question 13

high-tech companies use high-tech products like computers, use technology in production for advanced electronics or use technology to _____

Answer 13

solve a complex problem such as systems integration consulting

Question 14

tech companies can be sole proprietorships or ______ of larger companies, even if the parent

Answer 14

branch operations; is not technology focused

Question 15

the ____, infrastructure requirements, risk, and capital requirements will change based on the company

Answer 15

workforce