Background

The Providence-RI Knowledge Economy Initiative is a Regional Initiative led by the Greater Providence Chamber of Commerce and the Providence Foundation to unleash and commercialize the untapped talent in the region, boosting productivity, creating wealth, and mitigating government revenue shortfalls.

How was it started?  In the fall of 2007 a new initiative was launched by a team of civic, academic and business leaders that sought to strengthen and grow the region’s knowledge economy sectors – healthcare, technology, research & design, and financial services – by identifying, coordinating and supporting regional assets, competencies, and networks.  Particular attention is being paid to fostering academic-industry collaboration, building entrepreneurial capacity, and facilitating the commercialization of technologies developed by local universities, companies and start-ups. The steering committee engaged New Economy Strategies (NES) , a national consulting firm based in Washington, D.C. with expertise in technology-based economic development strategies, to provide research, facilitation and strategic advising in the management of the project.

Where are we in the process?  The Knowledge Economy Roadmap was completed in March 2008 and the leadership is currently assembling six Hot Teams to kick off the implementation around the Targets of Opportunity identified in the Roadmap [Click here for more information on the Roadmap's findings and recommendations].  These teams will be comprised of 10-20 leaders from business, academia, government, and various supporting institutions that are committed to transformation, and focused on leveraging critical federal, state and regional resources in areas with the most likelihood of success.  The implementation team process will deepen the already successful engagement of the Providence Knowledge Economy Initiative by developing a series of Business Plans around specific collaborative pursuits that ultimately aim to create new companies, new jobs, new investment, and new tax  base. 

What is this Website?  NES has provided a customized Collaboration Portal to assist the Hot Team members with this work.  Only participants and stakeholders have been invited to this site.  Please visit the page How To Use This Portal for an explanation of the many features of the site.

For more information on the Knowledge Economy Project, browse this site or contact:

Janet Raymond
Senior Vice President/Economic Development
Greater Providence Chamber of Commerce
401.521.5000