Massachusetts Vision 2015:A Presentation for TiECON East 2007

June 15, 2007

Presented by: Dr. Jack M. Wilson, PresidentUniversity of Massachusetts

Overview

• Massachusetts economic landscape - what does it look like?

• Are we prepared to compete in a changing global and local economy?

• Where do we want to be in 2015?

• What are we doing here at home and abroad to spur innovation and growth?

Understanding the Massachusetts Economy and Its Competition • Innovation economy – largest natural resource is our

educated population• Success depends on highly-educated people, great

universities, innovative research and effective collaboration• State-wide regional innovation is critical to the economic

vitality and success of the state (not just Boston & Cambridge) • Other states and nations have discovered our formula for

success:– New competition from other states (NY, CA, NC) and nations

(China, India, Singapore)– Many economists predict that China will surpass Japan as the 2nd

economic power in year 2020– We can no longer assume that we will be an economic leader

simply because we have Harvard and MIT

Key Lessons from Across the US

• Talent Strategy - alliances between universities and industry are at the center of state competition

• Targeted state investments in K-12, public higher education (science, technology & research) and workforce development pay off

• Strong private university and teaching hospital resources are a unique advantage for Massachusetts

• Public universities are critical for complementing the private universities, growing talent and fostering regional economic development– Center for High-Rate Nanomanufacturing – tripartite collaboration between

UMass Lowell, University of New Hampshire and Northeastern

Increasing Global Competition… and Opportunities

• Cost & Business climate – lower costs and financial incentives for R&D, technical services and manufacturing, less burdensome taxation, regulation and litigation environments

• People – some foreign nations are graduating more physical science and engineering students than the U.S. every year

• Market access – potential in rapidly developing nations such as China and India with more than 2.4 billion people and proximity to customers

• Infrastructure – foreign governments are investing in university & lab facilities, transportation, energy and telecom to compete more effectively

Source: MassInsight, Choosing to Lead, 2004

Vision for 2015

Path to Social & Economic

Development goes through the University

of Massachusetts

2015 远 见 和 计 划

麻 省 大 学 影 响

社 会 和 经 济 发 展 的 途 径

Collaboration Creates Synergy• Statewide Life Sciences Network: a discovery-to-product

pipeline for medical devices, pharmaceuticals and biologics through a state-wide network anchored by the 5 UMass campuses

• Marine Science & Technology Corridor: fueling discovery and innovation in ocean observation, coastal homeland security and fisheries management

• Nanotechnology Cluster: a network of partnerships to position the state as a world leader in nanotech manufacturing, building around 2 nanotechnology centers at Lowell ($12 M) and Amherst ($16 M)

• Renewable Energy: supporting innovations in a range of fields from wind and solar energy to new fuel cells and biofuels across the state

Implementation through Partnerships

• Strategic Economic Development Partners: Josh Boger through the Mass. Biotech Council; Bill Guenther and Bob Brown through MassInsight; the Mass. Technology Leadership Council, Mass. High Tech Council, John Adams Innovation Institute, etc.

• Sponsored Collaborative Research: with leading companies such as Microsoft, Cisco, Genzyme, Raytheon, etc.

• State-wide Talent & Education Strategy: partnerships with government, private universities and colleges, research institutes and teaching hospitals – build around UMass 5 campus system, Five Colleges, Inc., UMD Connect Partnership, etc.

• Global Talent & Innovation Strategy: China/India/Asia strategy is vital for UMass and for the state’s economic competitiveness

– UMass/China Office in Beijing– Formal partnerships with leading universities such as Tsinghua and Wuhan – Confucius Institute at UMass Boston– UMass Medical School & Serum Institute of India collaborating to make a lower cost treatment

for rabies

• Governor Deval Patrick’s Life Science Initiative

Governor’s Life Science Initiative

Announced in May at BIO2007, it includes $1+ billion in public funds –– $500 million in capital funds toward public higher education

and other facilities and equipment to be used in collaboration with the life sciences industry

– $250 million on research grants, fellowships, and sector-wide workforce training initiatives (including Gap Funding)

– $250 million in tax benefits, targeted toward job creation

– $250 million in private sector matching funds for capital, research grants, fellowships and workforce training

Governor’s Life Science Initiative (Cont’d)

• $100 million for a Massachusetts Stem Cell Bank and RNAi Therapeutics Center at UMass

• State-created Life Science Center will offer important grant funding

• Last week the Center authorized its first grant to fund a study by Donahue Institute at UMass of the life sciences workforce.

• Life Sciences is a VERY innovative industry

#1 Resource at UMass is Talent… Spurs Innovation

• 58,000+ students enrolled annually

• 11,000 annual graduates from the 5 campuses

• 9 out of 10 undergrads are Massachusetts residents

• 70% – 80% stay in Massachusetts after graduation

• More than 60% stay in the state long-term (almost twice that of private universities)

• 220,000 alumni, work and live in Massachusetts

Source: Boston.com

The UMass Return on Investment:

“The Path to the Social and Economic Development of the Commonwealth Goes Through UMass”

• $524 million core state support (26% of budget)– $404 million in annual R&D expenditures (3rd largest in the state)– Perform 90% of state’s R&D (outside of Route 128) – Almost $30 million generated in royalties and licensing fees– #2 in Massachusetts for technology licensing revenue– Manage 3 high tech incubators throughout the state and anchor for

biotech research park in Worcester

• State investment seeds an additional $2.3 billion in economic activity and an additional 14,000 jobs in the state

• UMass is responsible for a total of $4.3 billion of economic activity and 29,000 jobs

THANK YOU