In spring of 2010, our legislature created the Minnesota Science & Technology Authority to establish “an agency of innovation” in response to the growing sentiment that Minnesota has lost its competitive edge.
With the stated mission to “promote a business climate that fosters lasting and inclusive prosperity through the growth of innovation-based businesses and jobs,” three distinct goals were established by the advisory committee:
1) Accelerate Minnesota’s ability to turn new discoveries and technologies into commercial products and services.
2) Foster the start-up and success of new high-growth companies in the state.
3) Enhance the ability for our existing industries to remain competitive and be leaders in their market.
After six months of research and analysis, the authority publicly released this week a detailed 31 page report turned “strategic roadmap for getting back on our entrepreneurial feet and building competitive companies throughout the state.” If you or someone you know has a vested interest in the future of Minnesota’s high tech ecosystem, this required reading will shape our high tech economy for years to come.
From the intro:
“Minnesota, like other states across the country, is facing a prolonged period of high unemployment and budget deficits. Now more than ever, there is a critical need to make strategic investments in efforts that will accelerate job growth, and at the same time, set a foundation for sustained prosperity.
One of the most widely accepted economic development tenets in today’s economy is that a region cannot sustain quality jobs and prosperity unless it continually innovates and finds new ways to be competitive. This requires an active entrepreneurial environment where startup and existing companies are encouraged and supported in seeking to develop new products and enter emerging markets.”
Couldn’t agree more with the premise; read the report and draw your own conclusions.