Innovation and entrepreneurship (I&E) is vital for a strong economy. Entrepreneurs with cutting-edge businesses create good jobs. Their employees in turn are valuable customers who spur even more economic development and business growth in the area.
Take Silicon Valley, New York, and Boston. Each location is a model I&E hub, attracting the best and brightest talent in the world. Thousands of students, college graduates, and experienced professionals alike flock to these areas for world-class learning opportunities, enviable corporate jobs, or a chance to be a part of a rising startup. The result? Talented and driven people plant roots in those areas to live, work, or start new companies, further bolstering the regional economy.
In our new series, we’ll explore I&E’s multifaceted role in driving economic growth. This first installment highlights the benefits of creating an ecosystem in regions with great potential to become a vibrant I&E hub. We spoke with directors of two accelerators – one in western Massachusetts and one in central California – who are actively nurturing an environment for entrepreneurship to grow and flourish. They illustrate several ways an active I&E ecosystem has quickly impacted their region, from job creation to attracting industry, investors, and talent. In future articles, we’ll dive deeper into the role science and technology I&E plays in economic development.