Business cluster growth program

 

Challenge:

A US business development team had a goal to grow its city’s industry clusters and encouraging a new wave of economic development through innovation.







Solution:

A data driven approach to identify, understand, engage and drive value for the city’s existing and potential small business clusters and innovation centers.

  • We used data driven audience and market analysis to help the team identify businesses which were likely to expand their operations and might consider the city.

  • We brought the teams together to raise understanding, create shared meaning and identify barriers to collaboration

  • We supported team members to identify solutions and empowered them to develop joint solutions. We also designated space for team members to be creative

  • We coached team leaders to communicate and demonstrate the values and behaviors that they wanted to see and to performance-manage poor performing staff

  • We put in place incentives and training to encourage and support the collaboration efforts. We also celebrated team members who demonstrated the desired culture



Results:

  • Creation of 3 new private-public sectors innovation initiatives

  • After 2 years, the agency was attracting ⅓ more jobs in the targeted industries, equaling an estimated 15,000 new jobs

  • Estimated economic impact in Gross Value Added topped $4M in Y1 and 9M in Y2

+15k

new jobs in targeted industries

$9M

estimated Gross Value Added in 2 years