KSA Annual Meeting - March 8, 2012
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This document summarizes the annual meeting of the Kendall Square Association that took place on March 8, 2012. It highlights that Kendall Square is a hub of innovation and job growth, noting that Massachusetts leads the nation in college graduates, research funding, and venture capital investment. The meeting featured the founder of the Cambridge Innovation Center, who emphasized that startups and entrepreneurship are key drivers of job creation. The document outlines factors that make Kendall Square uniquely positioned to spur innovation, such as talent, investment, and density that enables collaboration.
KSA Annual Meeting - March 8, 2012
- 1. Kendall Square Association Annual Meeting March 8, 2012 Tim Rowe Founder and CEO Cambridge Innovation Center
- 2. At the end of the day, we all have the same priorities healthy kids happy families strong and safe communities
- 3. The key to this? good and well-paying jobs
- 4. Where do jobs come from?
- 5. They are coming from HERE. They are coming from US.
- 6. Recent research says that innovation and entrepreneurship are the key to job growth.
- 7. The Importance of Startups in Job Creation and Job Destruction, T. Kane, The Kauffman Foundation, July 2010 http://goo.gl/eMSqe
- 8. Are we really playing such a crucial role?
- 9. We are #1 in talent Talent Massachusetts: #1 in college graduates - According to the 2010 US Census, Massachusetts leads the nation in bachelor and advanced degrees earned - 54.6% of the Massachusetts adult population has a college degree, 43% higher the national average. - We have the highest college graduation rate in the country, 69.2% Boston area alone: 50+ colleges and universities with 225,000+ students US Census 2010: http://www.census.gov/compendia/statab/2012/tables/12s0233.pdf The National Center for Higher Education Management Systems (NCHEMS): http://goo.gl/U1usr College Board: http://goo.gl/yrMJk Map: http://goo.gl/FmWlo
- 10. We are #1 in R&D funding... NIH example Building New York City's Innovation Economy, J. Grady and J Bowles, Center for an Urban Future, September 2009. http://www.nycfuture. org/images_pdfs/pdfs/BuildingNYCsInnovationEconomy.pdf
- 11. We are #1 in venture capital Massachusetts $457/person NVCA 2009 Yearbook. Graphic taken from "Boston Startup Scene" presentation by Jeffrey Bussgang, Flybridge Capital Partners. http://www.slideshare.net/bussgang/boston-startup- scene-picture-presentation-212
- 12. What makes Kendall Square so potent? ● Talent ● Investment ● Density, density, density ○ Leads to collaboration, community
- 13. Density
- 14. What excites me about the KSA? We are telling our story We are building community We are helping design the future of Kendall We are increasing our impact on the world
- 15. Telling our story The Entrepreneur Walk of Fame 2011 Honorees: Bill Gates · Bill Hewlett · Bob Swanson · David Packard · Mitch Kapor · Steve Jobs · Thomas Edison
- 17. Designing the Future of Kendall Working with Stakeholders to Identify Good Outcomes For All MIT proposed design for the new center of Kendall Square
- 18. Impacting the world MIT ● The Kauffman Institute estimates there are 25,800 currently active companies founded by MIT alumni that employ about 3.3 million people and generate annual world revenues of $2 trillion, producing the equivalent of the eleventh-largest economy in the world. A few milestones from just this past month... ● Great Point Energy developed coal gasification technology announced $420 million of investment to take its Kendall Square technology to China. This was the largest Chinese investment ever in a private US company. ● Biogen Idec recognized the value of the innovative therapies for fibrosis and organ failure developed by Stromedix, acquiring it for $562 million on cash and milestone payments ● Local startup Wefunder.com obtained 2,500+ signatures on a petition to change investment laws to enable crowd-funding (IPOs without the paperwork), and it looks likely to pass ● MIT Prof. Bob Langer announced the results of a study implanting a wireless electronic device in the human body for drug delivery--the first ever attempt of this kind MIT Entrepreneurial Impact: The Role of MIT, E. Roberts, C. Eesley, MIT Sloan and the Kauffman Institutte, February 2009. Xconomy on Great Point Energy: http://goo.gl/fube6; Investors.com on Biogen Idec: http://goo.gl/Z5YQF www.wefunder.com; MIT News on Bob Langer: http://goo.gl/KgjNK