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.
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.
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.
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 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.
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.
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.
In our recent podcast episode, we had the pleasure of speaking with Aaron Emerson, CEO of CEGA based in Sioux Falls, South Dakota. Aaron shared his journey from practicing law to leading a groundbreaking medtech company, offering valuable insights into innovation, entrepreneurship, and the complexities of the healthcare industry.
This podcast episode features a conversation with Jason Foster, CEO of Ori Biotech, who discussed his varied career and insights into the biotech industry. Foster’s journey began in politics and healthcare policy in Washington, D.C., where he recognized the private sector’s crucial role in healthcare innovation. This realization spurred him to attend business school, leading to a significant role in a pharmaceutical company. His work there, marked by substantial growth, eventually took him to London to oversee European operations.
In the latest episode of our podcast, we had the pleasure of speaking with Max Ostermeier. He is the Co-Founder and CEO of ImplantData Ophthalmic Products and has an impressive background, transitioning from a career in finance to becoming a serial entrepreneur in the medtech industry. His innovative spirit and dedication to improving patient care have led to the development of several groundbreaking technologies. Through his ventures, he has a successful track record of regulatory approval, fundraising, and strategic exits through acquisition.
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