A community’s economic growth is what enables us to innovate and deliver world-changing technology. When you think of a high tech community think of it as an ecosystem, one that strives from an environment that is stimulated with positive nutrients. You can also visualize the opposite effect if the environment is contaminated and not nourished. It is important to understand the critical components of the community’s ecosystem, where Universities, Tech Councils, Chambers and other accelerating enablers play such a huge role in the growth. Here are four major segments of our high tech communities:
Entrepreneur Ecosystem: the drivers behind a high tech community are strong Universities and a vibrant startup community as Brad Feld brilliantly explains in his book “Startup Communities”. This ecosystem fosters the bold risk takers and creates an innovation factory producing talent pools as well as incubation of technologies. The core nucleus of a growing community creates the support network for small businesses and entrepreneurs to allow them to take the big risk and create game changing technologies and businesses.
Technology Ecosystem: high tech communities must deliver a technology ecosystem, which creates networks for engineers and technical business leaders. Again, the Universities generate the entry-level talent pools and create the research environment for companies to leverage. Tech Councils play an important part of this segment, were these non-profit organizations drive the links between businesses, leaders, and technologists through generating committees and events to help drive awareness.
Industry Ecosystem: perhaps the most important segment of the community is the industries that are served through the high tech companies who operate within the ecosystem. The success of the economic development within this segment is based on the generation of small business prosperity, entrepreneurial deep roots, technology talent pools, and rich Universities involvement. The key objective of this segment is to attract Fortune 500 companies in the high tech arena and to develop home grown large-scale successful companies.
Global Ecosystem: once the three segments above are generating great output in harmony with each other, the global ecosystem starts to become tied in. A high tech community must be successful at connecting to this ecosystem for scalability of growth. Both national and global communities are part of this segment, where a strong local high tech ecosystem creates opportunity for the larger global community.
This post was to introduce the core fundamental components of growing a high tech community. This will allow us to create a platform for the TrepExec to discuss future details of each ecosystem and the way they connect to each other.
What basic fundamentals of a high tech ecosystem have we missed?
Global High Tech Executive, GM, Entrepreneurial Leader – Strategic Vision, Process Improvement, P&L, PLM, Sales Growth