WPI 2006 New England ASEE Conference March 17, 2006

2 Massachusetts Job Trends *Total Nonagricultural Jobs December ,14 mill Prior Record High April ,78 mill February ,37 mill Dec ,2 mill Jan ,16 mill

3 A Healthier Economy

4 Finally, A Real Pipeline for Economic Development 12/31/2002 No Pipeline 12/31/200312/31/200412/31/2005Percent Increase Number of Projects in the Pipeline N/A % Job Creation Potential N/A76112,97315,30018% Potential Job Retention N/A1,25820,55626,56229% Potential Private Investment N/A$0.9 billion$1.2 billion$3.4 billion182%

5 Strengthening Math, Science & Engineering Education Science in MCAS Adams Merit Scholarship New Math/Science Academies 1000 New Math/Science Teachers AP in All High Schools Bonus Pay for Math/Science Teachers

6 “Research at the Frontiers of Understanding”  More than 30 research centers and laboratories and two major research institutes  Mission: continue to build and sustain a research program worthy of our position as one of the nation's top universities  WPI: a key player in the state’s economic development initiatives

7 Massachusetts’ Advantages Diverse economy driven by technology and innovation -Nation’s most educated workforce -122 colleges/universities Recognized leaders in technology and innovation: -Defense and Information Technology -Biotech/life sciences -Nanotech -Manufacturing High rate of entrepreneurship, venture capital

8 … but, we have some barriers and weaknesses Business culture is hard to navigate Our firms are not yet well connected

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10 A Powerful Four-Step Model: 1.Engagement 2.Needs Assessment 3.Identify Resources 4.Make Connections

Step 1: Engagement  Identify and reach out to candidate company  Candidate company agrees to participate. Step 2: Needs Assessment  Discussion with senior executives nets candidate’s needs list Steps 1 & 2

12 Examples of Needs Assessment Lists have been 3-5 pages single spaced Types of needs Examples Technology  Strengthening packaging materials  Meso modeling  Antibodies to Melanocortin receptor subtypes  Molecules that promote cartilage regeneration Workforce Needs  Mechanical engineers with Hydraulics understanding  Company financial Internship program with local schools.  Access to recruit from local College Engineering programs Supplier and Sourcing  Hi tech electronic components  Specialty coating products  Critical barrier materials for Hydrogen fuel cells  Proximity to packaging source

Step 3: Identify resources  Reach out to business and academic resources that address candidate needs  Review with candidate  Create itinerary for Massachusetts resource tour Step 4: Make Connections  Facilitate resource tour  Make introductions  Step away Steps 3 & 4

14 Sample Schedule of Connections Day One

15 Sample Schedule of Connections Day Two

16 Building on existing success  Reached out to Fortune 100 Company  Worked with senior executives to assess needs  Identified Massachusetts resources addressing those needs  Made connections  Results: More than 10 new agreements signed with Massachusetts business and research entities

17 Benefits: Massachusetts and our academic centers  Business expansion and job creation in Massachusetts  Introduce businesses and academic leaders to encourage new relationships & deals  Encourage increased and diversified R&D investment

18 Rave Reviews “…it’s hard to fault a program that aims to leverage some of our greatest assets in such an efficient way.” “Governor Mitt Romney … launched an initiative yesterday to sell Massachusetts businesses and research institutions to the world …” “Massachusetts Business Connect will tap into the state’s vast R&D and venture capital community to better assist companies that want to grow here.” “Large and small companies that need each other have a hard time connecting…so [EED] is starting a dating service.”

19 Business and Academic Leaders Concur  Massachusetts Business Connect gives us the ability to “be in the game and be present at those meetings” with industry leaders. Michael J. Pratt, BU director of corporate business development  “L-3 Henschel fully supports this initiative.” – Don Roussinos, President & CEO, L-3 Communications/Henschel  “It makes real sense to organize to go after existing funds that are being spent outside the Commonwealth. With a little preparation and tailored actions, I'm convinced we can bring this funding into the Commonwealth, to the benefit of all or us - big and small companies alike.” – Stuart Karon, VP Business Development, American Superconductor Corp  “… this would create momentum for further innovative activity. I think this is a great idea.” Mark Rice, dean of the graduate school for Babson College

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