A region’s success depends largely on its “innovative capacity,” or its ability to generate and market inventions. Innovation is responsible for about half of all GDP growth in the United States, making it a critical component of regional economic competitiveness.
Cleantech Innovations New England is a snapshot of firms and supporting organizations involved in clean technology research, development, and commercialization in the New England region.
Do You Know Cleantech Innovations New England, What is It?
Clusters are “geographically near clusters of interlinked firms and affiliated organizations in a given area, linked by similarities and complementarities,” according to the definition. The New England cleantech economy exemplifies most, if not all, of the main cluster characteristics, as detailed in Appendix C. New England needs a cleantech innovation cluster because clusters boost regional economic competitiveness. Clusters, in particular, give the following advantages to regions.
As well, clusters boost productivity: Companies in a cluster have easier access to specialized suppliers, skills, information, and training, all of which help them run their businesses more efficiently. Clusters also encourage developing specialized skills and contacts, giving firms inside the cluster a competitive edge. Firms may, for example, have access to trained personnel and technology.
Clusters promote creativity in the following ways: The ability to think of and develop new markets, products, or processes is enhanced by interactions amongst cluster participants (e.g., entrepreneurs, scientists, engineers, market leaders, and so on). Furthermore, the proximity of suppliers and research institutes makes R&D, testing, and product innovation simpler for businesses.
Clusters make it easier to commercialize innovations: Clusters encourage the formation of new businesses, university spin-offs, and new divisions within existing businesses. Clusters make it easier to start new businesses since the necessary inputs are more readily available. Universities and non-profits in the cluster, for example, assist with licensing, and investors (such as banks, private equity, and venture capitalists) are actively seeking new products and businesses to invest in.
Do You Know About Overview Of Cleantech Innovations New England Program?
Cleantech Innovations New England is a new, region-wide program managed by the NECEC Institute to increase the speed and size of new sustainable energy enterprises throughout all six New England states. The New England Clean Energy Council’s sibling organization, the NECEC Institute, contains cleantech innovation and cluster development activities. Their programs are based on the belief that to form and accelerate new cleantech businesses, inventors.
And early-stage entrepreneurs require business, technical, and market support to validate the technology and commercial viability. And, as a result, it attracts demonstration opportunities for team members, capital investors, and customers.
Cleantech Innovations New England seeks to make it simpler to find and connect with existing area assets that can assist cleantech entrepreneurs in establishing their firms. They assist in developing a regional cleantech ecosystem by finding targeted cooperation possibilities and linking parties to one another, often across state lines. As well, it helps entrepreneurs to progress more quickly than they could on their own. Consequently, more new regional enterprises are being launched, more New England cleantech jobs are being generated, and more clean energy innovations are being introduced to the market.
Cleantech Innovations New England has secured federal funds and regional matching funds to give competitive awards of paid services to help some of the most promising early-stage cleantech businesses advance. Through a mix of contacts and competitive rewards, talented cleantech entrepreneurs will be connected to the assets, resources, and community they require to thrive.
Cleantech Innovations New England’s web portal will debut in summer 2012, allowing entrepreneurs across New England to exchange information about their enterprises and requirements and learn about and engage with innovation assets and community members. The portal and a network of professional “liaisons” will direct entrepreneurs to valuable resources and assist entrepreneurs who want to apply for Cleantech Innovations New England and its partners’ acceleration award funding.
Cleantech Innovations New England results from a collaborative effort that included substantial financing from state and federal agencies, private foundations, and the support and involvement of over 40 organizations from around the area. Cleantech Innovations New England received the EDA award as one of six winners of liaisons Green, a $12 million Obama administration multi-agency competition aimed at promoting technological commercialization and entrepreneurship to support a green innovation economy and enhance US competitiveness.
Next Steps For New England’s Cleantech Innovation Economy.
This research was started to assist New England-wide strategic initiatives to develop the cleantech economy. The initiative developed a standardized approach for categorizing and evaluating the cleantech innovation cluster in the region. It created a methodology to identify cleantech firms and produced a regional definition of cleantech, which can describe and track the growth of the cleantech innovation cluster over time. These criteria and categories were applied to both firms engaged in early-stage cleantech commercialization activities and the innovation infrastructure supporting those companies to better demonstrate the resources available to assist cleantech enterprises in commercializing.
However, these are the next steps for New Englandˇs Cleantech Innovation Economy.
# Increase public awareness of cleantech businesses and innovation infrastructure.
# Examine impediments to innovation and share best practices throughout the area.
# Develop or strengthen regional innovation economy networks.
Who Are the Supporters Of The CleanzoNE?
# Massachusetts Clean Energy Center.
# Clean Energy.
# Rhode Island Economic Development Corporation.
# Office Energy And Planning.
# Maine Technology Institute.
Awards Of The CleanzoNE.
Outstanding inventions pique people’s interest in the cleanroom sector and beyond. As a result, the Cleanzone Award recognizes exceptional projects that provide significant advantages to their users and the cleanroom sector as a whole.
Applied Research & Business Concept Formation
Cleantech Innovations New England has developed a competitive procedure. For give supported services and direct assistance awards to university-based initiatives, recognizing that university, applied research, and commercial concept-stage ideas can be challenging to fund and link to important resources.
Technology Development & Demonstration
Through a structured award procedure, Cleantech Innovations New England can support a limited number of services awards for pre-funded businesses outside of the academic context and those in need of particular resources.
These grants would provide an entrepreneur with testing facilities (lab and field), prototyping tools, business advisory/mentoring services, and technical Development Services, among other things.
Mentorship, Team Development, and Business Services
By offering prizes to assist in identifying and supporting qualified Executives In Residence, the Cleantech Innovations New England initiative will help meet mentorship, team development, and business services commercialization shortages in New England.
Cleantech Innovation NE can also provide financing for incubation services, such as office and lab space, by collaborating with the ACTION network.
Conclusion: The Outlook for New England’s Cleantech Innovation Cluster.
When we talk about this, the NECEC Institute and its sister organization, the New England Clean Energy Council, have tremendously grown the cleantech innovation cluster during the last several years. Besides, regional cluster leaders can better evaluate progress by focusing attention on the development of concrete metrics to track companies’ development and innovation infrastructure across New England. This will provide benchmarks by which to measure the success of regional cluster development.
There is little doubt that the cluster confronts several problems. It does, however, have a lot of potentials to become a global center for cleantech innovation. Massachusetts, for example, has established a solid innovation ecosystem that supports cleantech entrepreneurs and attracts large amounts of public and private innovation financing. Similarly, several New England states have established a significant cleantech presence.
Additional cluster development activities will benefit the area in the future, concentrating on possibilities to identify and break down cleantech innovation hurdles and disseminate best practices across the region. Significantly, New England is well-positioned to lead the world in cleantech innovation.
Regional leaders can transform New England’s economy by building strong networks, enacting smart policy, and implementing transformative projects. To achieve regional economic growth goals, protect the environment, and stimulate the creation of new jobs and businesses by moving away from fossil fuels and toward clean energy.
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