Innovation DistrictVision

The vision for the Innovation Districtyou are about to see will be foreverevolving.Our goal is to successfully executekey projects over the next fouryears to set the vision for the futureof the District. We want to ensurethat the momentum we all build issustainable and stays on courseuntil completion.

The first 100 years of our country's historywere about who could build the biggest,most efficient farms.

The second 100 years were about the raceto build efficient factories.

Welcome to the third century:

This one's about ideas.-Seth Godin

Ourmotivation

Oururgency

Our people

… results in excesspatent growth of

approximately 9%.

Innovation comes from smartpeople working together.

A 10% percent increase incollege graduates who areretained in a given location…

40.3% of Bostonians hold Bachelor degreesOver 80 metro-Boston colleges are educating330,874 higher education students annuallyAnd graduating 22,198 Master’s Degrees and2,836 Doctoral Degrees each year.

Our nation’s scarcest resource is and will be our vibrant human capital,particularly young minds. Boston’s ability to compete for our best minds is thekey to our success.

To capture their ideas,we must capture their minds

Otherwise, they will…cure cancerdevelop new modes of transportationsolve the world’s problems

…elsewhere

Our people

1,000 Acres“A new approach is called for on the waterfront – one that is both moredeliberate and more experimental...

- Mayor Thomas M. Menino

The massive expanse of the South Boston waterfront, with its existingknowledge base, opportunity for growth, and world-class infrastructureis ripe to produce world-class products and services”

Our place

Total available SF 3,384,602Industrial 914,156

Office 1,872,878Flex 572,568

Hospitality 25,000

Our space

Illustration and not drawn to scale

Ourbusinesses

Imagine a place…… where an entrepreneur creates a new product while drinking coffee with afriend from the nearby university. After developing her vision with the helpof local talent, the venture capitalist across the street fund’s her vision,allowing it to become a reality. In collaboration with the anchor firm downthe street, that product is scaled and changes the face of the industry…

Our place

Livebuild flexible housing options towork for flexible lifestyles

Playprovide public space &programming to foster aninnovation ecosystem

Workcreate clusters ofinnovative people

new jobsnew businessesnew patentsnew policiesnew ways of living

Our plan Our goals

Whereinnovatorswork, playand live inBoston

Why create createclusters ofinnovative people?

The best ideas are shared, created quickly and happen in close placesPeople proximately located share technologies and knowledge more easily,and implement innovations more rapidly. And because most ideas are bornfrom existing products rather than from ether, people in clusters innovate at aquicker rate.

In fact, innovators cite other patents in their own creations at a 8.8% higherrate than those created elsewhere.

More ideas, quicker

More jobsLarge firms have access to customers and plenty of money, but are bestsuited to produce expensive products that do not always meet the customersneeds…

Small firms have plenty of great ideas, but do not have access to capital orcustomers

Placing small and large companies together results in a sustaining, symbioticrelationship that feeds innovation.

Clusters support small companies, which create more jobs

An increase in the number of small businesses is the best driver of job growth.

VCs concentrate where the ideas are.Clusters provide an efficient marketplace where ideas are generated, VCs areand want other VCs want to be… VCs help great ideas become greatproducts by providing more than just capital:MonitoringManagement Team CoachingIntroductions to key Partners

More money

Most VC money flows toinnovation clusters

Start-ups are even more likely to get funded in those cities

Why build flexiblehousing options to workfor flexible lifestyles?

A luxury they can’t affordMany innovators cannot afford traditional housing optionsEntrepreneurial housing opportunities are necessary to support early-stageentrepreneurs in all sectors. Without low-cost accommodations, we will notretain the brightest minds.

Different lifestylesWe must “continue to develop [Boston’s] urban vitality, ensuring that it is thekind of place that people from across the country, and around the world,want to live” and offer a complete suite of options.

For the entrepreneur who is never at home because she’s at the lab all nightor developing a new program with her co-founders, an apartment near theoffice would be a great solution.

Entrepreneurs are constantly moving. Gaining access to housing comes atthe cost of losing the flexibility entrepreneurial lifestyles require.

Why providepublic space andprogramming tofoster aninnovationecosystem?

9am-5pm to 24/7

Today’s entrepreneurs do not work nine to five—they work intensely anderratically. Much of the entrepreneur’s “work” is done outside of theoffice. In fact, creative workers spend as much as half of their workschedule out of their offices.Whether grabbing a drink or dinner, going for a run, or relaxing in the park,these knowledge workers are constantly exchanging information andexamining collaboration opportunities.An abundance of collaborative venues and open spaces is critical tofostering the creative process.

Innovators are redefining the term “day job”

CorePrinciples

Shared InnovationCreate opportunities for all

LivabilityMove beyond meetingenvironmental standardsUrban Lab

Learn from whatdoesn’t work,implement what does,and scale the best

new jobsnew businessesnew patentsnew policiesnew ways of living

Our Goals

Urban labLearn from what doesn’t work, implement what does, and scale the best

Those cities that are best able to adapt to changing conditions are theones that thrive. Given that more educated people better adapt to achanging environment, Boston’s highly educated workforce is perfectlysuited to lead us in the 21st century. 1

This experiment concentrates rapid prototyping and quicker iterations,allowing our innovators to find the right answers, quicker.

The Innovation District, a concentration of talent and ideas, will harvestkey lessons for the city and where relevant, apply them.

Move beyond meeting environmental standards toward livability

Better ventilation, lighting and general environment result in increasedproductivity from less sick time and greater worker productivity and increasethe value of real estate from $37 to $55 dollars per square foot.

We are well placed to lead the world in coastal zone climate changemitigation and adaptation. We will test urgent methods and share keypractices, while creating a market for successful technologies and products.

Toward livability

Shared InnovationFor sustainable growth, there must be opportunities for all

For the Innovation District to be relevant for our entire City, the lessonsmust, in part, be relevant to all people. We believe that the innovationeconomy provides new opportunities to people of all backgrounds andeducation levels.

One does not need a Ph.D., lab or computer to develop new products andprocesses for the 21st century. We welcome the newest constructiontechniques, baking recipes, and craftspeople, all of which will help createto the Innovation District.

SLIDE 3Seth Godin. Fast Company Unleash Your Ideavirus July 31, 2000SLIDE 5Edward L. Glaeser and Albert Saiz, “Rise of the Skilled City,” Harvard Institute of Economic Research Discussion Paper, 2025 (December 2003): 38-9SLIDE 6The Boston Consulting Group for The Boston Foundation, “Preventing a Brain Drain: Talent retention in Greater Boston?,” (October 2003): 5MORE IDEAS, QUICKEREdward L . Glaeser and William R. Kerr, “Local Industrial Conditions and Entrepreneurship: How Much of the Spatial Distribution Can We Explain?,” Journal of Economics & Management Strategy 18, No. 3 (Fall 2009).Adam B. Jaffee and Manuel Trajtenberg and Rebecca Henderson, “Geographic Localization of Knowledge Spillovers As Evidenced by Patent Citations,” The Quarterly Journal of Economics (August 1993):594-5.MORE JOBSHenry Chen, Paul Gompers, Anna Kovner and Josh Lerner, “Buy Local? The Geography of successful and Unsuccessful Venture Capital Expansion,” Harvard Business School Working Paper 09-143 (June 2009): 2.Henry Chen, Paul Gompers, Anna Kovner and Josh Lerner, “Buy Local? The Geography of successful and Unsuccessful Venture Capital Expansion,” Harvard Business School Working Paper 09-143 (June 2009): 16. (in relation to their local combined statistical area)Henry Chen, Paul Gompers, Anna Kovner and Josh Lerner, “Buy Local? The Geography of successful and Unsuccessful Venture Capital Expansion,” Harvard Business School Working Paper 09-143 (June 2009): 20-21.Edward Glaeser and William Kerr, “What Makes A City Entrepreneurial?,” Rappaport Institute for Greater Boston and Taubman Center for State and Local Government, Policy Briefs (Febrauary, 2010), 3.MORE MONEYHenry Chen, Paul Gompers, Anna Kovner and Josh Lerner, “Buy Local? The Geography of successful and Unsuccessful Venture Capital Expansion,” Harvard Business School Working Paper 09-143 (June 2009.LUXURY CAN’T AFFORDEntry Level Data, provided by Salary.comDIFFERENT NEEDSEdward Glaeser and William Kerr, “What Makes A City Entrepreneurial?,” Rappaport Institute for Greater Boston and Taubman Center for State and Local Government, Policy Briefs (Febrauary, 2010), 3.Edward L. Glaeser and Albert Saiz, “Rise of the Skilled City,” Harvard Institute of Economic Research Discussion Paper, 2025 (December 2003): 25. The difference in numbers is is a result of controlling for the initial house price in each community.NINE TO FIVE“Why Office Design Matters,” HBS Working Knowledge, 9/12/2005URBAN EXPERIMENTEdward L. Glaeser and Albert Saiz, “Rise of the Skilled City,” Harvard Institute of Economic Research Discussion Paper, 2025 (December 2003): 1-2.

Research