Innovation Providence Implementation Council (IPIC), Greater Providence Chamber of Commerce measure Progress on Development of Rhode Island’s Knowledge Economy at Forum

The Greater Providence Chamber of Commerce, the Innovation Providence Implementation Council (IPIC) and several other key partners gathered Thursday, November 5th at the Westin Providence to celebrate the successes of Rhode Island’s Knowledge Economy and plot a strategic economic development agenda for going forward.

 

The event, which drew more than 150 business leaders, young entrepreneurs, college and university heads, as well as representatives from labor and government, was centered around continuing the Knowledge Economy Roadmap and Implementation Strategy. The strategy was officially launched a year ago as a way for the state’s assets and people to work together in a strategic, coordinated effort to grow the 21st-century economy of Providence and Rhode Island.

“Today’s briefing sends the message that as a community we are continuing to connect the dots in our economy,” said Laurie White, president of the Greater Providence Chamber of Commerce. “We are refocusing on the strengths of innovation, entrepreneurship, small business and new company formation. As a community, we are working together to foster academic-industry collaboration, building entrepreneurial capacity, and facilitating the commercialization of technologies developed by local universities, companies and start-ups. And most important we are finding success."

 

The program featured a presentation by Richard Seline of New Economy Strategies (NES), which conducted all of the initial data analysis of the city assets and helped to create the roadmap for growing Providence and Rhode Island’s Knowledge economy. He returned to measure the progress being made and to highlight national trends in knowledge-based economic development “It’s remarkable given the current economic climate that there is still a group of civic and entrepreneurial leaders that remain vigilant on building the Knowledge Economy in Rhode Island,” Seline said.

 

The session also included an interactive panel discussion of local leaders. The focus of the discussion the role both the private public sector play in moving Knowledge Economy ideas forward.

 

“We have established a clear blue print on how we as a community can move the ideas generated from, by and in Rhode Island’s Knowledge economy forward,” said Bill Hatfield, president, Bank of America- Rhode Island and chair of the Chamber’s Board of Directors “It is a vision that relies on deep collaboration among industry and institutional partners and serves to energize the research base and next generation of entrepreneurs.”

 

One of the program highlights was a presentation by recent graduates of the Betaspring program. Funded through IPIC Grant monies, Betaspring brought pairs of entrepreneurs to Providence for three months to go from concept to prototype, gain customers and create a company success story all under the mentorship of local executives and entrepreneurs.

 

“This is truly one of the best Knowledge Economy success stories,” White said of the Betaspring presenters. “They are an example of the ideas and focus that we have in this community. We need to harness this energy and multiply it.”

 

The Knowledge Economy initiative began in 2007 when a team of civic, academic, and business leaders, were brought together to develop a plan to strengthen and grow the region’s knowledge economy sectors – healthcare, technology, research & design, and alternative energy – by identifying, coordinating and supporting regional assets, competencies, and networks.