Harnessing Natural Innovation Resources in the Roanoke Region
Over the last several decades, the U.S. economy has undergone a dramatic transformation moving from and economy based on manufacturing to one increasingly driven by technology and innovation. Each year, new industries emerge and new technologies are applied to traditional jobs. In fact, the U.S. holds one third of the global tech market, cementing our role as a nation of inventors and innovators.
To stay competitive in a modern economy, it’s essential for localities to develop an economic base comprised of tech-forward companies that research, innovate, and create. Technology-based economic development focuses on developing a local environment where big ideas can thrive. From infrastructure, to lab-ready workforce, to funding and mentorship, creating an innovation ecosystem is the work of tech-based economic development.
Essential Elements of a Tech-Based Economy
Based on the experience of tech-based economies like Silicon Valley, Research Triangle, and Route 128, there are a few proven elements every tech-based economy needs and the Roanoke Blacksburg region checks all the boxes:
- A research base that generates new knowledge
- Mechanisms for transferring knowledge to the marketplace
- An entrepreneurial culture
- Sources of risk capital
- A technically skilled workforce
The region is rich in all these assets. Here you’ll find the Fralin Biomedical Research Institute, RAMP accelerator, RBTC networking, Common Wealth Angels private capital investment organization, Virginia Tech, Carilion Clinic and the biotech degree at Virginia Western Community College. In other words, our innovation ecosystem has taken shape.
RBIA is dedicated to stewarding all the natural innovation resources of the region from Roanoke to Blacksburg and intentionally developing their potential into a nationally recognized powerhouse of ideas, cutting-edge technologies, and exciting new jobs.
An Innovation Corridor in the Blue Ridge
The Roanoke Blacksburg region is a place where ideas flow, and students live and work side-by-side with companies, entrepreneurs, researchers and investors. Here you’ll find a community you want to be part of, one with strong livability and exciting opportunities all against a Blue Ridge Mountain backdrop.
Our innovation ecosystem is expanding every year. We’ve built a coalition of leaders with a collective vision to harness the elite education, top-notch medical institutions, visionary investors, and fearless entrepreneurs in an open innovation economy where ideas flow and collaboration happens every day. At RBIA, we’re tireless in pursuit of fostering a true, sustainable ecosystem where innovation—and people—flourish.
