Rockford Innovation Initiative
Building the Innovation Ecosystem from the Bottom-up
FACT SHEET v.1.1
PROJECT SUMMARY
The Rockford Innovation Initiative will prototype a new dynamic economic development model. The goal is to transform the Rockford economy into one that is creative and innovation driven. The approach is to maximize linkages and relationships among local stakeholders with customers, suppliers and sources of creativity on a global basis. The result will be faster commercialization of new to the world products and services.
By strengthening the Rockford collaboration infrastructure a unique regional innovation ecosystem will evolve to propel the next generation of economic growth, business start-ups and jobs.BACKGROUND
National innovation policies are now moving in the direction of doubling federal investment in basic R&D in selected agencies, increasing investment in science and engineering education, promoting flexibility in the workforce, strengthening R&D tax incentives, upgrading intellectual property protection and other measures. An operative approach to innovation, however, requires combining and integrating insight and knowledge based ingredients at the local level. Rockford has an opportunity to develop a unique innovation recipe. Competitive advantage is increasingly associated with the quality of innovation networks, intersections, linkages and relationships that a local community can build and sustain over time. Rockford’s diversity of innovation assets provides a foundation for an "open innovation model" that can more effectively generate value from technology and market opportunities
PROJECT OBJECTIVES
Formulate a vision for the Rockford innovation economy.
Strengthen the innovation ecosystem of public agencies, private sector and academic institutions.
Accelerate the transformation research and discovery to applications, products and services.
Inspire and attract the next generation of scientists, engineers and entrepreneurs.
Implement digital collaboration tools to share knowledge, leading practices and coordinate projects.
Enhance visibility of Rockford as an innovation hotspot.
Influence federal, state/local government research, funding and innovation priorities.
ROCKFORD: A PROTOTYPE INNOVATION ECOSYSTEM
Rockford's 20th Century industry revolved around machine tools, heavy machinery, automotive, aerospace, fastener and cabinet hardware products, and packaging devices and concepts. During the 1980s the Rockford area went in to a severe economic decline as foreign competition and demand shifts in the manufacturing sector severely impacted the economy and employment structure. In a typical American story of resilience, Rockford is re-inventing itself and is now in transition as the business, political and civic leadership look to new markets, entrepreneurship and technology based businesses to drive the future economy.
The first step in this process will engage Rockford’s key innovation drivers to participate in a series of Innovation Forums. These forums will not be the typical "talking head" conferences consisting of keynote speeches and attendees in a classroom setting. The key concept is to open minds and build trust, reciprocity, inspiration and critically important relationship capital to unlock the insights and pathways to a stronger innovation economy. Innovation is a cross- organizational activity and is enabled by a culture of collaboration wherein the assets, creativity and innovations of one stakeholder can be linked, shared and leveraged with others. The Rockford Innovation Initiative is being launched as a collaboration between Rockford Area Ventures, Eigerlab, Rockford Area Economic Development Council, City of Rockford and the Center for Accelerating Innovation