Thursday, December 18, 2014

Two Thoughtful Assumes Hawaii Innovation

Innovation Framework Forward


A week ago introduced a preview from the &#8220Hawaii Innovation Assets&#8221 report, put together through the Hawaii Business Roundtable . The report, because of be launched soon, identifies the condition&#8217s innovation assets and highlights the significance of growing the study and innovation industries for future economic growth.


Even though the HBR Innovation Assets Report has not yet been launched, you are able to listen to American Savings Bank Boss Richard Wacker share a few of the highlights on a week ago&#8217s episode of Bytemarks Coffee shop.





However a second report centered on Hawaii innovation only agreed to be launched to less fanfare. Enterprise Honolulu (area of the The island of oahu Economic Development Board) just released &#8220The Innovation Framework Forward,&#8221 featuring specific recommendations that will further Hawaii&#8217s economic transformation.


Put together by Yuka Nagashima, former executive director from the Technological Difficulty Development Corporation, the &#8220Framework&#8221 report features input from the wide spectrum of stakeholders and leaders from Hawaii entrepreneurs and established business proprietors, to policy leaders and economic development experts. From all of these different perspectives, the report analyzes things as they are in addition to a variety of visions for the future predicted for Hawaii.


From individuals visions comes a phone call for &#8220innovation driven growth,&#8221 instead of racing to save the most recent vertical sector from decline.


&#8220Hawaii’s economic growth within the last two decades still lags behind the nation’s average, regardless of the recent recovery from the tourism industry,&#8221 Nagashima creates. &#8220If we’re to supply the standard of existence we have started to expect in order to leave a much better Hawaii to another generation, we have to change the way we approach economic rise in our community.&#8221


How large is Hawaii&#8217s &#8220innovation economy&#8221? Nagashima cites the HBR Innovation Assets Report (and it is contributing factors, including UHERO and DBEDT) in calculating the present size the &#8220innovation economy&#8221 to become about 65,000 jobs. Which includes over 27,000 jobs within the &#8220core tech sector,&#8221 and also over 21,000 jobs within the &#8220creative sector.&#8221


Key recommendations in the report include:



  • Provide devoted funding streams or systems for innovation initiatives.

  • Align and support initiatives that lead towards the infrastructure, the talent development, and also the capital needs from the innovation ecosystem.

  • Change college research commercialization from a unique license model towards the moving projects model.

  • Identify a try-to entity dedicated to innovation that’s respected by both public and private industries.

  • Agree with the metrics for innovation performance and also the methodology, and designate a condition entity to consistently set of the agreed-upon metrics.


Nagashima spoken to some great mixture of people, from Henk Rogers and Eric Nakagawa to Richard Lim and Kathryn Matayoshi. I had been honored also to take part in her interviews.


The entire report could be downloaded like a PDF in the Enterprise Honolulu website .



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