Building Indigenous Companies: Private/Public Infrastructures for Economic Growth and Diversification [article]

Raymond W. Smilor
2017
This monograph brings together selected articles and IC² Institute research on the topic of regional economic development through the growth of locally founded (or "indigenous") companies, in contrast to development relying primarily on industrial relocation. It provides a framework for understanding and implementing new approaches to economic growth and diversification at the community and regional levels. Talent, technology, capital and know-how are all required to build successful ventures.
more » ... here must also be institutional foundations that support the entrepreneurial process through innovative infrastructures. These infrastructures include educational institutions, public and private sector entities, financial institutions and business networks. In addition, newer institutional relationships are necessary to link effectively business, government and academia. Keywords: economic development; regional development; entrepreneurship http://ic2.utexas.edu printing, computer equipment & software, radio & television, telephone & telegraph, electronic components, instruments for measuring, photographic equipment, medical instruments & supplies, and athletic equipment) . 2. More than high technology 1s involved in an information economy . The largest sectors in rank order are health & medical services, banking & credit, insurance, education, telephone & telegraph, research & development, and advertising. 3 Information technol ogy manufacturing' s l argest 1ndustr1al sectors 1n rank order are computers & software, electronic components, radio & television, photographic equipment, and telephone & telegraph. II. Lack of economic growth results in: A. Decay and depressive situations -lack of dynamism. 8. High unemployment, especial ly among youths, minorities , and displaced employees. C. Deficits for all governmental entitites . D. Pressures for • protectionfsm. E. Loss of leadership and preeminence -technological backwardness. III.Prerequis it1es for Success A. An on-goi ng scient1f 1c-techn i cal base. 1. Technology oriented institutional complexes. -2-* Typewriters . 3 * Electronic Components * * Othe r Office Machines & Parts 1.2 * Photographic Equipmen t * * Medical Instruments & Supplies * * Athletic Equipment * * Computer Equipment & Software .3 * Radio & TV Equipment * * Numerical Controls
doi:10.15781/t2ww77g4v fatcat:sauzuy6hfzb53d5n3szexlq6ge