Creating an Innovation Engine: How Cities Can Transform Land into Knowledge Capital

Creating an Innovation Engine: How Cities Can Transform Land into Knowledge Capital

  • Case
  • Teaching Notes
Abstract

This case provides unique, urban economics perspectives on how city managers in governments can identify ways to leverage fixed nonperforming assets and transform them into future growth engines and talent magnets. This process begins with a city planner's vision of the future, packaged in the form of a Request for Proposal (RFP), followed by a marketing plan to attract interest from universities around the world, obtain commitments of hundreds of millions of dollars in investment, and ultimately fulfill the critical void in the high tech entrepreneurship area. The attributes of New York City are somewhat unique and different when compared to a traditional product; however, many traditional business concepts still apply, e.g., creating a brand (for NYC – High Tech), locating funding sources, pricing the ...

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