Accelerating the Creation of the Austin Innovation District - Lessons from Kendall Square

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Information about Accelerating the Creation of the Austin Innovation District - Lessons...

Published on February 17, 2014

Author: natwelch



Presentation to the Downtown Austin Alliance on 6 November, 2013. Sharing the knowledge gained from the development of the Kendall Square innovation cluster in Cambridge, MA, USA.

Accelerating the Creation of a World Class Center of Innovation in Austin – Learning from Kendall Square and the Boston Experience Presented to the Downtown Austin Alliance – 11/6/2013 by William A. Ghormley, Sr. Vice President, Xconomy Nathaniel Welch, Sr. Manager, Center for Applied Research Client Name ©CFAR 2013 1

Our Objective Today..... •  What is an innovation cluster vs. a district? •  What is happening in Boston and why? •  How Austin can create further conditions for success? Downtown Austin Alliance ©CFAR 2013 2

Kendall Square: “The World’s Most Innovative Square Mile” A Brief History Client Name ©CFAR 2013 3

Downtown Austin Alliance ©CFAR 2013 4

Kendall Square $ Boston Seaport Longwood Medical Downtown Austin Alliance ©CFAR 2013 5

Downtown Austin Alliance ©CFAR 2013 6

A Brief Timeline of Boston and Kendall Square 1780’s - 1850’s: Dramatic postrevolution growth 1629 - 1720’s: From farming town to port 1850’s - 1880’s: From clipper ships era to industrial boom: Telephone (1876) Downtown Austin Alliance ©CFAR 2013 1880’s - 1940’s: MIT moves (1916) Radar (1940) 1980’s - 2013: Kendall Square becomes, life ciences, high tech cluster 1950’s - 1980’s: Imaging, computers, aerospace, software, healthcare, biotech 7

Downtown Austin Alliance ©CFAR 2013 8

What do we mean by “cluster”? Place matters Brand Power Community Values Matter Reduced friction Downtown Austin Alliance ©CFAR 2013 Concentrated Knowledge Trusted relationships Reputation mitigates risk 9

Downtown Austin Alliance ©CFAR 2013 10

Self-Organizing elements of a successful cluster Geography “Founderati” (Entrepreneurs) Developable Space Mass Transit Financial Capital Downtown Austin Alliance ©CFAR 2013 Knowledge Capital Cultural Arts 11

Creating the seeds of opportunity – Rt 128 RADAR MENS ET MANUS “Mind and Hand” Downtown Austin Alliance ©CFAR 2013 12

Two divergent paths on whether academics could start companies..... This created the locus of activity in Kendall Square Downtown Austin Alliance ©CFAR 2013 13

Kendall Square attracted dollars for biotech and other research... $400 million $600 million $135 million $220 million (VC) Downtown Austin Alliance ©CFAR 2013 14

...and the Cambridge Innovation Center has been the magnet for entrepreneurs "If technology and innovation are the lifeblood for our future, then CIC is ground zero.” Rob Weisman, The Boston Globe Number What $2B VC money raised by companies started at the CIC 1500 Number of companies have gotten their start at the CIC 40,000 Jobs created 7,368 Number of meetings held each month at the CIC 20,926 Number of cups of coffee made each month Downtown Austin Alliance ©CFAR 2013 15

FROM (1964) Downtown Austin Alliance ©CFAR 2013 16

TO (2012) Downtown Austin Alliance ©CFAR 2013 17

Kendall Square $ Boston Seaport Longwood Medical Downtown Austin Alliance ©CFAR 2013 18

The Seaport Innovation District design as it is forming in 2013… Downtown Austin Alliance ©CFAR 2013 19

… and the Longwood Medical Area Par ee Qu ue ne Aven Fo Brookli rsy nw a Museum of Fine Arts Back Bay Fens CT3 y Ar ts wa et Simmons College Residence Campus Museum School Renaissance Park Museum of Fine Arts Louis Prang Stree Ruggles Street Mass. Mental Servicenter Health Shapiro Center Cardiovascular Brigham and Women’s Hospital Franci s Stre et Jam . on St Kempt et g Stre Mass. Mental Fenwood Inn ns et lba A St. Green Line: Arborway “E” Calumet Stre Vinin ay aw aic 9 Vancouver Street ue n Road nt ing t Hu Annunciatio on Parker Street Roa d 39 66 Str eet nt mo et Mindo Tre ro Stre Halleck Str ee t • Mission Hill Link Bus Stop Downtown Austin Alliance To Rt. Massachusetts College of Pharmacy and Health Sciences Brigham Circle ood Ro ad Legend Station Street Center Fenw Horadan Way •  •  •  •  6 Major Hospitals 2.4M Outpatient visits/yr 12 Educational Institutions 45,000 Employees ( 20 Entrance Accessible Entrance Street Countway Library ck Street et ©CFAR 2013 en Av Rt Harvard Medical School Shattu To Brookline Village Evans Wa y 39 Smith Street Restaurant Gurn ey Yawkey Center for Cancer Care 60 65 Prentiss Street Harvard School of Public Health St. Alphonsus Street ren’s W ay s Stre Brookline t ree Ward St Longwood/ Hospitals Mc Greevey Way Wigglesworth Street Franci 39 CT2 Harvard School of Dental Medicine et Binney Stre ad Massachusetts College of Pharmacy and Health Sciences Police Headquarters CT2 Boston Children’s Hospital Dana-Farber Cancer Institute Jimmy Fund W ay Child Beth Israel Deaconess Medical Center West Campus Massachusetts College of Art and Design Longwood Avenue Meadow Lane Road y Pilgrim n Street rwa ness Ro 319 Brigham and Women’s Hospital 221 Longwood Galleria: Food Court Shops, Hotel Joslin Diabetes Center Joslin Place Deaco Boston Children's 333 Hospital Longwood Avenue Wentworth Institute of Technology Roxbury Crossing New Du Str dley Coffee Shop eet Bank/ATM Retail Shop Mission Hill Pharmacy Hotel Parking 66 Tremont Street MBTA Green Line Stop Harvard Shuttle Stop eet Judge Baker Children's Center Gore Str Covenger St. 8 19 47 CT2 CT3 Longwood Research Center Riverway Harvard Institutes of Medicine Carl J. Shapiro Clinical Center enue Autum Rive oad Boston Latin School Longw ood Av Boston Children’s Hospital Tetlow Street Palace Road Wheelock College Brookline Campus New Research Building Simmons Drivewa y .9 8 19 47 60 65 CT2 CT3 375 Longwood Avenue Blackfa n Cir. Way Nessel Temple Israel Center for Life Science Boston Worthington Street ne Aven Brookli ay rw 8 19 47 CT3 Evans Way ue et l Stre Chape et tre te rS es lch Co ve Ri Beth Israel Deaconess Medical Center East Campus Avenue Louis Pasteur ad Ro h Be ec Short St reet The Winsor School Isabella Stewart Gardner Museum Simmons College Academic Campus Merck Research Laboratories 8 19 47 CT2 CT3 Parker Hill Avenue Terrace Street Colc Pilgrim hes ter Road Stre et Museum Road 8 19 47 CT3 Emmanuel College t Longwood Ruggles Stre Wheelock College Main Campus n Leo Green Line: Riverside “D” ft he Fen et ell R re et y rive St Fe St re Wheelock College Brookline Campus New th 39 t ou M ay eo e re rsy th W kD Co Northeastern University Fo nu St Ca rlt on Fenway Av e t th m Fullerto n Street 47 CT2 ur on enue St re et ou or et re St on ac Be on m ou th et ton Av Landmark Center M re St ry Burling Harvard Vanguard (Kenmore) gh 8 19 60 65 et ns be r St re et re er b St Pe t y’s Overlan d Street n ar To Kenmore Square to .M Landmark Center Bo yls St Hemenway Street Blue Cross Blue Shield Fenway Audubon Circle 47 MBTA Bus Numbers MBTA Bus Route Oscar Street 0 50 100 200

The Emerald Necklace: by Frederick Law Olmsted Longwood Kendall Seaport Downtown Austin Alliance ©CFAR 2013 21

“Building Clusters: A Short Guide” Client Name ©CFAR 2013 22

Downtown Austin Alliance ©CFAR 2013 23

Merging Technologies Talent Tolerance Downtown Austin Alliance ©CFAR 2013 24

Technology + Talent + Tolerance Three forces that create cluster success Technologies are merging: 200 years of Physical Science/Physics, converging with 100 years of Life Science/Biology converging with 50 years of Computational Science, giving us accelerating ability to analyze and design new solutions, which has developed an army of engineers and scientist with amazing, disruptive ideas they want to try. Talent from Business, Legal, and Financial sectors combines with these Entrepreneurial Engineers to build potent start up enterprises that become productive companies employing a wide range of talents and skills, which attracts capital and builds companies. Tolerance for differences and those who bring key skills and capabilities allows the start up culture to build businesses rapidly in a sustainable way, rewarding those who develop themselves continuously. Downtown Austin Alliance ©CFAR 2013 25

The four key institutions enable high performing clusters Academic Cultural The Cluster’s Institutions The Cluster’s must thrive Institutions must thrive Economic All four types of institutions must perform well for a cluster to be considered excellent Government Downtown Austin Alliance ©CFAR 2013 26

Key Design Principle: Look across to win Cross-Functional Task Forces Cross-Silo Problem Solving Cross-Cultural Teams .. All enabled by openness to different perspectives. Downtown Austin Alliance ©CFAR 2013 27

7 U.S. sites of innovation Downtown Austin Alliance ©CFAR 2013 28

The metrics that matter for clusters •  Quantitative •  Companies •  Jobs •  Revenue •  Investment Downtown Austin Alliance ©CFAR 2013 •  Qualitative •  Trust between parties improves •  Risk taking is valued •  Success is celebrated •  Failure is shared learning •  Reinvestment is expected •  Openness is fundamental 29

Think about... •  A long time horizon •  What is the branded “Austin experience”? •  The 4 key institutional roles •  If Amsterdam’s number is 33/33/33, then what should Austin’s be? •  A Place to live, work, play, shop, learn Downtown Austin Alliance ©CFAR 2013 30

And what are your thoughts… What are one or two pieces of advice or ideas about developing an innovation cluster in Austin that you want to share with the task force that will be working on it? Downtown Austin Alliance ©CFAR 2013 31

Thank you! Downtown Austin Alliance ©CFAR 2013 32

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