Presentation at AURP 2024 International Conference with ISG - Thel Consulting, LLC

Presentation at AURP 2024 International Conference with ISG

November 09, 2024
By Tung Nguyen

ISG and Thel presents at the 2024 AURP International Conference.

Accompanied by the leading midwestern architecture and engineering firm ISG, Thel will be delivering a presentation at the 2024 AURP International Conference, taking place in Bentonville, Arkansas.

The presentation titled “Discovering the Future of Research Parks: Flexible Master Planning + Strategic Marketing” highlights the importance of dynamic strategies and collaborative partnerships in enhancing the effectiveness of research parks and innovation districts.

By synchronizing strategic planning with the shifting demands of the market and enhancing cooperative relationships with industry pioneers, research parks and innovation districts can significantly contribute to regional economic advancement.

Flexible Master Planning

This approach is vital for research parks and innovation districts to adapt to the fast-paced changes in technology and research architecture. The presentation illustrates this through cases like the USD Discovery District, where adaptive planning has facilitated public-private collaborations. This leads to the development of scalable infrastructure that nurtures an ecosystem conducive to innovation, by providing versatile spaces tailored to various research disciplines and business expansion requirements.

Strategic Marketing

This is highlighted as a cornerstone for research parks aiming to draw in new tenants, attract investment, and cultivate a thriving innovation ecosystem. The presentation suggests that research parks and innovation districts should not only focus on business but also integrate community-centric amenities. Including mixed-use developments with residential and recreational options can significantly increase their attractiveness, creating holistic live-work-play communities.

U.S. Innovation at a Crossroads: High Investment, Yet Lackluster Results

Recent analyses by the World Intellectual Property Organization reveal a significant challenge within the U.S. innovation sector: despite robust investments in the foundational aspects of innovation—namely education, research and development, and the cultivation of a skilled workforce in STEM fields—these inputs are not yielding commensurate outputs in terms of economic and technological advancement.

Figure 1: According to the World Intellectual Property Organization, the US has descended from it’s position in 2023 as it relates to innovation efficiency.

The Discrepancy Between Investment and Output

The U.S. continues to funnel considerable resources into what can be termed as ‘innovation inputs’—with substantial R&D funding, educational expenditure, and a growing number of science and engineering graduates. However, the metrics that measure innovation ‘outputs’—such as the sophistication of production and exports, along with the rate of patent applications—are showing signs of decline. This gap highlights a potential inefficiency in the conversion of resources into marketable innovations, posing a threat to the nation’s competitive edge in key industries like technology, biotechnology, and advanced manufacturing.

The Strategic Role of Research Parks and Innovation Districts

To address this gap, research parks and innovation districts are emerging as pivotal elements in enhancing the efficiency of innovation. These specialized zones:

Facilitate Collaboration: By co-locating academic institutions, research facilities, and industry partners, these districts create an environment ripe for cross-pollination of ideas, accelerating the commercialization of research.
Support Patent Development: They provide startups with access to prototyping facilities, intellectual property support, and industry expertise, which are crucial for transforming conceptual innovations into patented, market-ready technologies.
Align Academic Research with Industry Needs: Ensuring that educational and research investments are not only theoretical but also practically applicable, these hubs help in translating academic output into tangible economic benefits.

As the United States continues to invest significantly in the precursors of innovation, the strategic development and enhancement of research parks and innovation districts will be vital. These entities are not merely physical spaces but are crucial mechanisms for ensuring that the substantial investments in innovation inputs are effectively converted into outputs that maintain and advance the U.S.’s position in the global innovation landscape.

ABOUT USD Discovery District

The USD Discovery District is strategically located in Sioux Falls, South Dakota, and is currently in the process of constructing a 50,000-square-foot multi-tenant, mixed-use facility. Unlike typical incubators, the USD Discovery District is designed to support scale-up companies that are already funded, have obtained FDA approval, and are looking to expand their operations. The first building, when finished, will primarily be core and shell allowing tenants to fully customize their lab and office spaces according to their specific needs, providing a unique level of flexibility.

Read the full market study

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