Innovation-Led Economic Development: Projects
- Strategic Planning: Kentucky Science and Technology Plan
- Industry Assessment and Strategic Business Planning: Regional Energy Innovation Centers
- Entrepreneurship Evaluation: Appalachian Regional Commission
- Business Incubator Evaluation: Maryland Technology Development Corporation
Strategic Planning: Kentucky Science and Technology Plan
RTI was selected by Kentucky's Department of Commercialization and Innovation to develop a five-year strategic plan for the state's science and technology economy. The objective of this plan was to provide direction and focus for the Commonwealth's continued investment in its innovation economy. The plan assessed the state's innovation strengths and weaknesses, explored ways to build on successes, and recommended strategies to accelerate knowledge, wealth, and job creation.
We developed the 2007 plan through extensive interviews, focus groups, and strategy sessions with businesses, researchers, education providers, investors, government agencies, and others. In addition, professionals in various research and industry platforms provided information on national and international market and technology trends. Best practice models for issues ranging from access to capital to tax credits were examined for their transferability to Kentucky.
Industry Assessment and Strategic Business Planning: Regional Energy Innovation Centers
RTI worked with the Center for Advanced Engineering and Research, the Southwest Virginia Higher Education Center, and the Institute for Advanced Learning and Research to develop industry assessments and business plans for the development of three regional Energy Innovation Centers that would support research and development and workforce development in the areas of nuclear energy, coal, and biofuels. The plans assessed regional, national, and international market demand for each industry; examined regional assets; identified specific short- and long-term economic opportunities; and developed operations plans and budgets. The missions and business plans of each center were designed to be directly responsive to both the new Virginia Energy Plan and the regional economic development needs and opportunities in three distinct regions of the Commonwealth. Using RTI's business plans, the centers jointly requested and received more than $24 million in funding.
Entrepreneurship Evaluation: Appalachian Regional Commission
Since 1997, the Appalachian Regional Commission has invested over $47 million to support entrepreneurial development initiatives across the region. RTI, as part of the Rural Policy Research Institute team, was selected to implement an evaluation of all of these projects.
Based on review of 350 closed projects, we selected a sample of 88 projects and performed extensive interviews with project managers to create a complex set of both quantitative and qualitative data. Our team performed a variety of analyses to determine whether the entrepreneurship project outcomes met goals and expectations. Our analysis allowed the broader evaluation team to submit a strongly substantiated report of findings and recommendations.
Business Incubator Evaluation: Maryland Technology Development Corporation
In 2007, RTI conducted a comprehensive impact analysis and evaluation of Maryland's 19 technology incubators. This evaluation determined the incubators' economic impact on the state, analyzed the state's capacity for increased investments in incubators, identified the barriers faced by incubating companies, and researched effective policies and practices to reduce these barriers and encourage success for the companies. The project involved a large Internet-based survey of current incubator clients and incubator graduates, extensive interviews and focus groups with companies and various incubator stakeholders, and an econometric analysis of the incubator program's contribution to Maryland's economy. Our evaluation generated the information Maryland Technology Development Corporation needed to effectively communicate the positive impacts of the incubator network on the state, and also provided suggestions for changes and enhancements to current programs.
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