Regionalism: How to be a Technology Hub

When we talk regionalism, some people think in terms of technology. You hear about technology hubs or corridors as I did last week in Cedar Rapids. In my mind this is where businesses of the same ilk cluster and build a brand and a presence that complements and fuels each other. I wrote about Austin's successful foray into the semiconductor world and Research Triangle Park in Smart Communities but what does it really take to get into this regional technology business and make some money at it. Paul Graham has written a wonderful essay to tell us how. He says you need two kinds of people: rich people and nerds. While I am sure he has a point, you will also need a strong cadre of well-trained pre-professional and professional engineers, computer specialists, and the like. If you have a medical center you will need some biotech people for sure. You will also need some places for these smart folks to go for dinner, coffee, and a book they can hold (as opposed to order). They probably are the exercise crowd too so how are your running trails? They also want a good environment for their children.

The point: technology hubs need more than just technology to be successful as Silicon Valley is finding out. Technology hubs require all the things we want in our communities for them to be successful. What this kind of business brings is higher wages, stability, and a window to the world. So where is the growth in venture capital spending? Take a look at this study--you will be surprised.