One of the key limitations of this work is the number of regions evaluated against the identified Factors. This work can be enhanced and expanded substantially by a series of detailed surveys to better understand the relative weights of the variables and the interactions between the variables and Factors. On the same basis, more detailed work comparing and contrasting the knowledge-based economic development approach with the mass-job creation approach could
146
substantially advance the body of knowledge related to technology-based economic
development. There are several additional actions that should be considered to maximize the value of this work. First, a broad survey of the ratings of the factors and variables by a many regional leaders, political leaders, economic professionals, and economic development professionals as possible would be of enormous benefit in refining the model. This would achieve one of the objectives of this body of knowledge – creating a model that can continuously learn and improve. A second step which would be much more expensive and time consuming, but would also add enormously to the value already achieved from the expert empirical
interviews, would be to continue the interview process and expand it to additional countries. Such an action would be extremely costly but would be of immense value. The final step is to apply the model to as many actual regions as possible, thereby identifying not only the factors and variables, but to go the additional step to identify solutions. That would be the ultimate value achievement – to identify not only the factors and variables to be considered, but also the potential actions that could achieve the outcomes desired.
147
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156
APPENDIX A
Interview Questions
(1) Please describe briefly your current position and role within your organization and community.
(2) Do you consider yourself knowledgeable about economic growth and development? How about technology-based economic development? Please provide a brief discussion of your background related to economic issues.
(3) Do you think economic growth is predictable?
(a) Do you think regional economic growth is predictable?
(b) More specifically, can regional technology-based economic growth be predicted? On what basis?
(4) What factors do you think impact technology-based economic development? Please think about and try to describe both quantitative and qualitative factors. Can these factors be measured?
(5) What specific types of quantitative factors or variables do you believe could be measured as indicators of regional technology-based economic growth (after the fact)?
(a) Do you think there are factors or variables that might be predictive of technology- based economic growth?
(6) The next six questions list and describe factors that may affect regional technology-based economic development in an attempt to identify the population of variables that impact regional technology-based economic growth. For each handout, please review each factor, and the variables listed that comprise and describe each factor, and answer the following questions for each;
157
(a) Do you think these variables sufficiently describe this factor? (b) Are there variables that you believe are missing?
(c) Should any variables be eliminated?
(d) Please assign a weight to each variable based on relative importance such that the sum of all weights equals 100.
158 ENVIRONMENTAL FACTOR
1. Quality of Life (i.e.: Attractive leisure-time activities;
Safety/relatively low crime environment) ____________ 2. Support for technology initiatives (i.e.: Institutional support for
technology transfer and commercialization) ____________ 3. Availability of technology-savvy investors _____ ______ 4. Technology population (i.e.: Households with a computer; Households
with internet access/high speed digital access) ____________ 5. Non-economically disadvantaged workforce (i.e. Average annual pay
vs. national average; Percentage of population living above poverty line;
Percentage of workforce that are employed) ____________ 6. Non-technology infrastructure (i.e. Transportation systems, particularly
air travel; Availability of legal, financial and other professional services ____________
7. A talented, educated workforce ____________
8. Quality of K-12 education systems ____________ 9. Undergraduate, graduate and post-graduate programs in technology
sectors, including Science and Engineering ____________ 10.Strong regional University system ____________
11.Other ____________
12.Other ____________
159 INFLOW FACTOR
1. Inflow of equity capital and debt financing ____________
2. Inflow of talent ____________
3. Inflow of ideas and innovation ____________
4. Inflow of government Research and Development grants ____________ 5. Inflow of revenue from outside the region ____________ 6. Inflow of Science and Technology funding ____________ 7. Inflow of private funding for research and development ____________ 8. Retention of capitol within the region ____________ 9. R&D expenditures within the region by Universities ____________ 10. IPO funds raised by companies in the region ____________
11. Other ____________
12. Other ____________
160 ATTITUDINAL FACTOR
1. Tolerance for entrepreneurial risk ____________ 2. Willingness to collaborate for mutual success or technology
advancement ____________
3. Image of creativity and value creation ____________
4. Value placed on human capital ____________
5. Responsiveness to innovative investors ____________ 6. Active promotion of the technology sector ____________ 7. Attitude of “grow your own” vs. focusing funding on outside
attraction ____________
8. Willingness of investors to consider technology investments ____________ 9. Belief of business and education communities in the importance
of technology transfer and commercialization ____________ 10.Entrepreneurial focus of the population
a. Number of new businesses started ____________ b. Number of new businesses started in technology sectors ____________ c. Number of Technology Fast 50 companies ____________ d. Payroll of ongoing business concerns in technology industries ____________
11. Other ____________
12. Other ____________
161 POLICY FACTOR