1. PA Prosperity Partnership Initiative: Envisioning the University Role in the Innovation Economy Irene J. Petrick, Ph.D., Faculty Administrative Fellow Office of Economic & Workforce Development Professor of Practice, College of Information Sciences & Technology IST Statewide Faculty Meeting May 12, 2009

2. “Tough Choices Tough Times, The Report of the New Commission on the Skills of the American Workforce,” National Center on Education and the Economy, 2007. Innovation Matters

3. The Creative Class Source: Bureau of Labor Statistics data as cited in The Rise of the Creative Class by Richard Florida, 2002 and 2006 data as classified per Recasting the Creative Class to Examine Growth Processes by David A. McGranahan and Timothy R. Wojan, 2007

4. What is the Innovation Economy? Dynamic competitive environment which emphasizes ◦ Flexibility ◦ Adaptability ◦ Capacity to add value through intangible assets Knowledge workers and their talents become key economic differentiators Choices for employment are not bounded by traditional location/geographic characteristics

5. Evolution of the Innovation Economy AgrarianIndustrialInnovation Land & labor create economic value Mechanical solutions replace & extend labor productivity Information technology extends human talent Economic value tied to the location of natural resources Economic value tied to access to capital and power Economic value tied to access to talent and communication networks The family farmerThe Titans of Industry The Entrepreneur and Intrapreneur

6. Megaregions of North America Map by Tim Gulden and Ryan Morris Richard Florida 2008

7. Complex Combinations Human Social Physical Financial Technological Organizational Pyramid of Regional Assets

8. Changing University Roles

9. Innovation Economy Cycle Patents/licenses, STEM & knowledge professionals, research, facilities & funding Revenue & profits, investments, job choices, new business creation Growth, decreased out-migration, leveraged competitive advantage, infrastructure improvements Destination location, increased housing & recreation choices

10. How do Universities Participate? Leveraged space: Technology incubation, research and lab space Student engagement at all levels to support company business and technical needs Free access to university resources Training at multiple levels On-line learning and support Attracting talent to key research areas Public – private partnership funding models Heavy state support, often ranging from basic research to commercial activities

11. Regional Engagement GOALS: Understand the region (from the region’s perspective) Identify needs and gaps Consider transformative opportunities Translate opportunities into University strategic initiatives

12. PA Prosperity Partnership Initiative Undertaken by the Office of Economic and Workforce Development with the help of TrippUmbach A series of listening sessions at campuses – Spring to Summer Campus-centric leadership Internal listening sessions/focus groups – Summer Analysis, synthesis and strategic plan development – Fall http:// www.oewd.psu.edu/pa-prosperity-partnerships /