Scott A. Jones, chairman of the Indiana Technology Partnership
The Indiana Technology Partnership, founded by Scott A. Jones, CEO of Escient Technologies, LLC, is a not-for-profit forum of corporate, academic and government leaders who are dedicated to advancing technology and innovation in the State of Indiana. Their goal is for Indiana to be in the top quarter of all states in each of the following metrics, firmly establishing Indiana as the Midwest’s technology leader by 2005. The following information was provided by Mr. Jones.
Educational Attainment
This metric is the ratio of persons age 25 and over with a bachelors degree or higher. Indiana ranks 50th with 17.%. To reach the top quartile, we must achieve 33.7%. Indiana’s production of graduates is already 12th nationally and growing at 2% annually. We need to reverse the “brain drain” and tap into this reserve of talent.
We already have examples of remarkable progress. Purdue University’s computer science department increased retention by 140% in a single year Purdue achieved this result by simply ensuring that graduates were aware of the many employment opportunities in Indiana.
Scientists/Engineers in the Workforce
Indiana currently ranks 46th nationally. To reach the top quartile, we must grow at rate of 4.3% annually. Indiana’s 21st Century Research & Technology Fund is supporting research projects that will attract and employ hundreds of researchers in the future.
Patents Per Worker
Indiana ranks 25th. In order to reach the top quartile by 2005, we need to increase our annual growth rate from 3% to nearly 15%. Indiana University’s tech-transfer organization has seen a 26.9% annual growth rate in patent filings over the past several years. Indiana is headed in the right direction.
Investment in R&D
Indiana falls squarely in the middle, ranking 24th. We will need to grow at a rate of 9.7% annually. R&D activity in our state suggests that we can grow aggressively in this area. For example; General Motors is investing $1 billion to develop additional research capabilities in advanced transportation and electronics at Allison Transmission.
Venture Capital
In order to move from 28th to 12th place, we must continue our excellent performance in this metric. Because of recent commitments by both public and private entities, we moved from 40th to 28th last year. That represents 1,000% growth in our venture capital resources in a single year.
Technology Jobs
Fundamentally, this could be considered the metric. If the other metrics improve, then the percentage of our workforce employed in tech jobs will grow. Currently, Indiana ranks 33rd. We are in the middle of the pack when it comes to our neighbors. The situation remains quite competitive. In order to break into the top quartile, we will have to grow at an annual rate of 10.1%.
In Summary
To reach the first quartile in all six metrics. Indiana needs to grow at 10 to 15% annually in these critical areas. Although this growth rate is aggressive, other states have shown that it can be done. If Indiana demonstrates such progress, then we will become the Midwest’s technology leader by 2005. No state in the Midwest has achieved a pre-eminent position in technology: Indiana can be the first.
For more information on these metrics and The Indiana Technology Partnership
visit: www.indianatechnology.org
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