High-Tech & University Related Research
As public sector support for universities continues to decline and tuition rates continue to increase, it will become increasingly important for universities, colleges and community colleges to find other sources of revenue – one such approach is to utilize existing, typically underutilized, building and land resources in the form of a research park or incubator facility. Further, the ability of a community to capitalize on the high tech sector and other university-related opportunities is a critical component in its economic development and the degree to which it maintains a strong economy as it meets the changing needs of a technology-hungry, globalized world. Vantage Point Economic & Transportation Development Strategies and its senior staff have been involved in a wide range of high tech and university-related development projects. Categories of involvement include research and technology parks, biotechnology, incubators and accelerators, and other university-related services.
Research and High-Technology Parks
Vantage Point Economic & Transportation Development Strategies senior professionals have been significantly involved in research and high-technology park studies over the past 20 years, conducting over 30 assignments on some of the most successful research parks in the nation. The work typically includes market feasibility, site characteristics identification and site selection, financial feasibility analysis, economic and fiscal impact assessment, organization and marketing approaches and implementation strategies, among other activities. We often bring in teaming partners in land planning, architecture, building/site design and building/infrastructure costing to fill out the team.
Life Science and Biotechnology
Life science and biotechnology projects are a subset of research and technology park assignments and follow the same basic approach. Clearly the difference is the focus on the overall life science industry base (medical universities, research hospitals, community medical, medical industry cluster employment, etc). Competition in the life science and bio medical industry is strong, so assessing core resources, key players and stakeholders and the leadership group to take on the project will be more critical than ever.
Incubators and Accelerators
In many of our research and technology assignments we analyze the market support for business, technology and life science incubators. This process is involved and requires detailed interviews with key stakeholders in the host entity (typically a university or community college), interviews with researchers and interviews with the local entrepreneurial community. As most true incubators are not significant revenue generators, it is critical to ensure there is a strong support system surrounding the incubator, active research capabilities to build from and a “Champion” to lead the effort. We have conducted dozens of successful incubator projects, both as a part of a research park and as stand alone facilities.