Building Hawaii's Innovation Economy Summary of a Symposium (2012) / Chapter Skim
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Session I: The Global Challenge and the Opportunity for Hawaii
Session I: The Global Challenge and the Opportunity for Hawaii
Pages 31-50
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From page 31... ...
We have to remain competitive, and we have to do that so our children can have a decent future and be secure. Also, the world is not an entirely safe place, and we want our soldiers and airmen to have an unbeatable competitive advantage in their technology." He said that to meet global challenges, the strongest strategy is to find new technologies and new ways of addressing them.
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From page 32... ...
In comparison, he said, the United States makes impressive investments in health research and in defense research. But the amount dedicated to defense research, he said, is misleading, in that much of it -- over 90 percent -- goes to applied research, including necessary but expensive weapons testing.
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From page 33... ...
"They understand, unlike many orthodox economists, that a purely service economy is not equipped to defend itself militarily or em ploy all the people who need jobs." Germany has focused on green technologies, becoming one of the largest producers of solar technologies in the world, despite receiving no more sunshine than Alaska.5 In the United States, he said, the greatest needs are for more speed, critical mass, innovation, and early-stage investments in young, innovative companies. He stressed speed in particular, and the advantages of collaboration between industry and academia.
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From page 34... ...
He recalled the commitment of Congressman Giffords of Arizona to solar technologies, and her understanding that they could not compete against fossil energy sources as long as the level of federal subsidies to the fossil fuels industry remained high. If we don't readjust the policy mix, he said, the countries that have done this, notably China, Brazil, and the European Union (EU)
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From page 35... ...
program which, along with its smaller cousin the Small Business Technology Transfer (STTR) program, invest nearly $3 billion annually in small firms emerging from university research -- nearly double the amount invested by the venture industry.
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From page 36... ...
"Now you need both federal and state investments to help leverage the private investments you need. State investments can be the first critical catalysts in dem onstrating the commitment of local institutions, especially your foundations and other investors." In closing, he encouraged the state to adapt an expression used to powerful effect by a former resident of Hawaii, Barack Obama.
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From page 37... ...
In Europe, he said, the venture capital industry had performed rather poorly because countries lacked strong public markets for private companies. The only growth strategy for a small firm was to be acquired by a larger company, and without the competitiveness of a public market, large companies could acquire smaller companies for lower prices.
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From page 38... ...
"These are the types of partnerships and collaborations," she said, "that you might think about." STATE AND REGIONAL ECONOMIC CONTEXT Carl Bonham University of Hawaii Economy Research Organization (UHERO) University of Hawaii at Mānoa Dr.
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From page 39... ...
Tourism, which has grown steadily since World War II, has long since taken the lead as the dominant sector, accounting for roughly 15 to 20 percent of the overall economy. It remains highly vulnerable to economic conditions, however, and in the recent recession it declined sharply.
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From page 40... ...
SOURCE: Carl Bonham, Presentation at January 13-14, 2011, National Academies Sym posium on "E Kamakani Noi'i (Wind that seeks knowledge) ." PROC Figure 4 NEW Bitmapped
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From page 41... ...
SOURCE: Carl Bonham, Presentation at January 13-14, 2011, National Academies Sym posium on "E Kamakani Noi'i (Wind that seeks knowledge) ." PROC gure 5 New Bitmapped 1 1 5 5 4 4 8 10 8 10 2 2 6 7 7 39 6 39 5 1 8 6 9 2 3 7 10 4 FIGURE 6 Comparing U.S.
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From page 42... ...
The pros pects for growth from the rest of Asia and from Europe are very strong. Essentially, he said, Hawaii today is experiencing a continued decline in state and local government jobs, with a forecast growth of total jobs for 2011 at a little over 1 percent.
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From page 43... ...
FIGURE 7 Hawaii visitor arrivals and spending 2006-2010. SOURCE: Carl Bonham, Presentation at January 13-14, 2011, National Academies Sym posium on "E Kamakani Noi'i (Wind that seeks knowledge)
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From page 44... ...
Goldin commented that of Hawaii's advantages in renewable energy sources, he had not heard geothermal energy discussed, or cooling from deep ocean currents. He suggested that those two resources could meet the enormous power and cooling needs of new cloud computing facilities, now planned for sites on the mainland that lack these natural assets.
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From page 45... ...
FOCUSING FEDERAL RESOURCES: THE OBAMA ADMINISTRATION INNOVATION INITIATIVES Ginger Lew White House National Economic Council Dr. Lew began by thanking the symposium organizers who she praised as "champions of bringing leading researchers and practitioners together to push the innovation agenda." She said she would highlight some of the Obama Administration's policies that promote entrepreneurship and commercialization, especially the efforts to advance regional innovation clusters and improve the commercialization of federally funded research.
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From page 46... ...
She cited a recent study by Michael Porter at Harvard University showing that industries participating in clusters benefit from higher rates of employment and wage growth, more jobs and businesses established, and more patents issued. During the past year, the Obama administration had made more than 40 awards to support and promote regional innovation clusters.
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From page 47... ...
Finally, the Act provides incentives for regional applicants to show how clusters are likely to stimulate innovation and promote economic growth and development. 13 See Section 603 of the America Competes Reauthorization Act of 2010, which establishes a Regional Innovation Program.
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From page 48... ...
programs amplify the work of federal labs by providing proactive, focused, and sustained marketing of laboratory technolo gies to companies. This can give companies valuable insights into navigating federal processes and accessing resources, such as the SBIR program.
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From page 49... ...
The University of Miami, for example, had placed an entrepreneurship program in its career counseling center. They used this strategy because all undergraduate and graduate students are encouraged to visit that career center, where they could see entrepreneurship identified as a valid career choice.
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From page 50... ...
Lew's reference to possible new metrics for measuring innovation success. He said that simple measures such as publica tion counts, patents, and companies were insufficient.
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