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Meeting Global Challenges German-U.S. Innovation Policy: Summary of a Symposium (2012) / Chapter Skim
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Keynote Address--John Fernandez
Pages 46-49

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From page 46...
... The first was the structural changes in the world economy, which has brought new competition from all parts of the globe. The second is the ongoing recession that has affected the global economy -- a recession "caused in part by poor financial regulatory decisions, a recession that has impacted world trade and pointed to the widening imbalances between developed nations and the rest of the world." The third was the need to "face the impact of our unsustainable dependence on oil, a dependence that threatens the global economy by driving gas and energy prices higher." As serious as these challenges are, Mr.
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From page 47...
... Third, an innovation economy depends on modern infrastructural networks, including the smart grid, next generation air traffic control, new wireless communications systems, and other systems that move people and ideas with speed and efficiency. REMOVING BARRIERS TO INNOVATION While investing in these building blocks, he said, the Administration is also working to remove barriers to innovation.
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From page 48...
... That initiative provides about $130 million from seven federal agencies to create a regional research center, develop new building efficiency technologies, and cluster the work of local partners to implement these technologies in local businesses and buildings. Today, ERIC, which was won by the Greater Philadelphia Innovation Cluster consortium, is investing resources to commercialize research, launch new small businesses, and connect education and work force training strategies.
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From page 49...
... PROCEEDINGS 49 Our national objective is to ensure that new opportunities "are not just for the biggest cities, or for people with advanced degrees or good connections. Everyone needs to have a stake in this innovation-fueled economy." He concluded by saying that "what is true for communities within the United States is also true for relationships between countries." The benefits of global economic growth over the past few decades have not accrued equally to everyone, he said, "but we're confident that the President's strategy for American innovation, as well as other forms of engagement, will help broaden opportunities for those who have not yet had them."
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Key Terms

  • innovation clusters
  • economy depends
  • innovation economy
  • global challenges
  • development administration

  • innovation cluster
  • accelerator challenge
  • innovation strategy
  • president called
  • energy regional

  • development policies
  • cluster consortium
  • acceleration network
  • innovation accelerator
  • infrastructural networks

  • developed nations
  • challenge investments
  • connect venture
  • leverage private
  • global economy

  • venture development
  • local partners
  • initiative called
  • president obama
  • smart grid

  • building efficiency
  • philadelphia innovation
  • supports entrepreneurs
  • competition builds
  • major tax


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