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Leveraging Knowledge Assets for Wealth Creation Alan W. Seadler Ph.D. Associate Academic Vice President –Research Duquesne University.

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Presentation on theme: "Leveraging Knowledge Assets for Wealth Creation Alan W. Seadler Ph.D. Associate Academic Vice President –Research Duquesne University."— Presentation transcript:

1 Leveraging Knowledge Assets for Wealth Creation Alan W. Seadler Ph.D. Associate Academic Vice President –Research Duquesne University

2 University roles in economic development Employer Purchaser Real Estate Developer Workforce Developer Advisor and Network Builder Technology Transformer and Incubator Porter, M. (2007) Forum Futures

3 “……Pittsburgh's eds and meds account for more than $11 billion in local salaries, 22 percent of the total salaries in the region.” University of Pittsburgh 2009

4 They've also spun off hundreds of companies in the last 15 years, driving Pittsburgh's technology boom. Since 2000, Pitt research alone has resulted in 373 new patents, 628 new license agreements, and 67 new companies. University of Pittsburgh 2009

5 Technology Transfer University of Pittsburgh, CMU, Duquesne Pittsburgh Technology Council "2011 State of the Industry Report"

6 Economic Development Initiatives Technology Based Economic Development Ben Franklin – Innovation Works – Seed Capital – Entrepreneurial Support Greenhouse Initiative – Digital Greenhouse – Life Sciences Greenhouse

7 Leading Edge Technology People Space/InfrastructureCapital Industry University/Research Startup Company Existing Companies Opportunity Fund University Facilities Industry Participation Image and Marketing Outreach Entrepreneurial Training Recruiting Services Workforce Development Executive Corps Pre-Seed/Seed Fund SBIR Services University/Industry Research Partnership Fund University Development Fund Leasehold Improvements Fund Expeditor Incubator/Accelerator

8 Keystone Innovation Zone Leverage university technology transfer Leverage university intellectual power and assets Anchor zones around research universities Marketable tax credits Business support Innovation funding Internships Facilities

9 PCKIZ Carlow University Duquesne University Point Park University CCAC Hill House Association UPMC HealthPlan AGH UPMC/Mercy Hospital

10 PCKIZ 40 companies Internships Tax Credits – Second highest amount in the Commonwealth – Marketable Business support – SBDC Location assistance – Uptown

11 The Pittsburgh region is as well-positioned competitively as we have been in a generation. Our economy is diverse, our workforce skilled, and our quality of life high. Dennis Yablonsky CEO Allegheny Conference

12 “According to the U.S. Census Bureau, the Pittsburgh Region has the highest rate of poverty among working-age African Americans of any of the 40 largest metropolitan regions in the country. More than 1/4 (28%) of the region’s African Americans aged lived in poverty in That’s twice as high as in regions such as Baltimore and Charlotte” Harold Miller 2010

13 American Communities Study US Census Bureau 2010

14 City of Pittsburgh 2010

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16 Evergreen Cooperative Initiative Catalyze creation of up to 10 for-profit cooperatives – 500 jobs – $65,000 equity per employee in 8 years Located in University Circle area of Cleveland Creation of a $3 million Evergreen Cooperative Development Fund – Revolving loan fund

17 Evergreen Cooperative Initiative Cleveland Clinic, Case Western Reserve University, University Hospitals, Cleveland Foundation Democracy Collaborative – Ted Howard

18 Evergreen Cooperative Laundry Started 2009 Green laundry million pounds of health care linen per year capacity 50 employees James Anderson CEO

19 Ohio Solar Cooperative Started in 2009 Ohio Cooperative Solar owns and/or installs PV solar panel arrays on institutional, government, and commercial buildings. Owns, Installs, and maintains large-scale solar panels and sells the electricity generated at a negotiated rate over a 15 yr period. Will employ 75 residents Stephen Kiel, President

20 Green City Growers Will start Fall 2012 Greenhouse with 3.25 acres under glass Produce ~3 million heads of lettuce per year and several hundred pounds of herbs. Will employ 35 people

21 Pittsburgh Wealth Building Initiative Duquesne University Carlow University Point Park University Community College of Allegheny County UPMC Mercy UPMC HealthPlan PNC Bank Pittsburgh Penguins Hill House Uptown Partners Oakland planning and Development Corporation

22 PWBI objectives Understand the purchasing of anchor institutions Develop a “Pittsburgh Cooperative Strategy” Develop a list of candidate opportunities Define start-up requirements and capital needs Start Cooperatives in neighborhoods.

23 PWBI timeline Kick-off April 2012 Initial funding in place Democracy Collaborative engaged PWBI Project Manager hired Survey to start May 2012 Study complete, initial candidates December 2012


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