Leveraging Knowledge Assets for Wealth Crea6on
Alan W. Seadler Ph.D. Associate Academic Vice President –Research
Duquesne University
University roles in economic development
• Employer • Purchaser • Real Estate Developer • Workforce Developer • Advisor and Network Builder • Technology Transformer and Incubator
Porter, M. (2007) Forum Futures
“……PiVsburgh's eds and meds account for more than $11 billion in local salaries, 22 percent of the total salaries in the region.”
University of PiVsburgh 2009
• They've also spun off hundreds of companies in the last 15 years, driving PiVsburgh's technology boom. Since 2000, PiV research alone has resulted in 373 new patents, 628 new license agreements, and 67 new companies.
University of PiVsburgh 2009
Technology Transfer University of PiVsburgh, CMU, Duquesne
0
50
100
150
200
250
Licenses & Op6ons Executed
Gross License Income
($millions)
Patents filed Patents issued Start-‐up Companies
2007
2008
2009
2010
PiVsburgh Technology Council "2011 State of the Industry Report"
Economic Development Ini6a6ves
• Technology Based Economic Development • Ben Franklin – Innova6on Works
– Seed Capital – Entrepreneurial Support
• Greenhouse Ini6a6ve – Digital Greenhouse – Life Sciences Greenhouse
Leading Edge Technology People Space/Infrastructure Capital Industry
University/Research Startup Company Existing Companies Opportunity Fund
University Facili6es
Industry Par6cipa6on
Image and Marke6ng
Outreach
Entrepreneurial Training
Recrui6ng Services
Workforce Development
Execu6ve Corps
Pre-‐Seed/Seed Fund
SBIR Services
University/Industry Research Partnership Fund
University Development Fund
Leasehold Improvements Fund
Expeditor
Incubator/Accelerator
Keystone Innova6on Zone
• Leverage university technology transfer • Leverage university intellectual power and assets • Anchor zones around research universi6es
• Marketable tax credits • Business support • Innova6on funding • Internships • Facili6es
PCKIZ
Carlow University
Duquesne University
Point Park University
CCAC
Hill House Associa8on
UPMC HealthPlan
AGH
UPMC/Mercy Hospital
PCKIZ
• 40 companies • Internships • Tax Credits
– Second highest amount in the Commonwealth – Marketable
• Business support – SBDC
• Loca6on assistance – Uptown
The PiVsburgh region is as well-‐posi6oned compe66vely as we have been in a genera6on. Our economy is diverse, our workforce skilled, and our quality of life high.
Dennis Yablonsky CEO Allegheny Conference
“According to the U.S. Census Bureau, the PiVsburgh Region has the highest rate of poverty among working-‐age African Americans of any of the 40 largest metropolitan regions in the country. More than 1/4 (28%) of the region’s African Americans aged 18-‐64 lived in poverty in 2008. That’s twice as high as in regions such as Bal6more and CharloVe”
Harold Miller 2010
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
All
White
African Am
Asian
La6n
o
Am Indian
Mul6 racial
Other
Median Income
American Communi6es Study US Census Bureau 2010
City of PiVsburgh 2010
City of PiVsburgh 2010
Evergreen Coopera6ve Ini6a6ve
• Catalyze crea6on of up to 10 for-‐profit coopera6ves – 500 jobs – $65,000 equity per employee in 8 years
• Located in University Circle area of Cleveland • Crea6on of a $3 million Evergreen Coopera6ve
Development Fund – Revolving loan fund
Evergreen Coopera6ve Ini6a6ve
• Cleveland Clinic, Case Western Reserve University, University Hospitals, Cleveland Founda6on
• Democracy Collabora6ve – Ted Howard
Evergreen Coopera6ve Laundry
• Started 2009 • Green laundry • 10-‐12 million pounds of health care linen per year capacity • 50 employees
• James Anderson CEO
Green City Growers
• Will start Fall 2012 • Greenhouse with 3.25 acres underglass • Produce ~3 million heads of leVuce per year and several
hundred pounds of herbs. • Will employ 35 people
Ohio Solar Coopera6ve
• Started in 2009 • Ohio Coopera6ve Solar owns and/or installs PV solar panel
arrays on ins6tu6onal, government, and commercial buildings.
• Owns, Installs, and maintains large-‐scale solar panels and sells the electricity generated at a nego6ated rate over a 15 yr period.
• Will employ 75 residents
• Stephen Kiel, President
PiVsburgh Wealth Building Ini6a6ve
• Duquesne University • Carlow University • Point Park University • Community College of Allegheny County • UPMC Mercy • UPMC HealthPlan • PNC Bank • PiVsburgh Penguins
PWBI objec6ves
• Understand the purchasing of anchor ins6tu6ons • Develop a “PiVsburgh Coopera6ve Strategy” • Develop a list of candidate opportuni6es • Define start-‐up requirements and capital needs • Start Coopera6ves in neighborhoods.
PWBI 6meline
• Kick-‐off April 2012 • Ini6al funding in place • Democracy Collabora6ve engaged • PWBI Project Manager hired • Survey to start May 2012 • Study complete, ini6al candidates December 2012