On Monday, we dove into the new Innovation District report from the Brookings Institute authored by Bruce Katz and Julie Wagner — specifically looking at the prototypes and forces that are shaping the new Innovation Districts. Today, we are diving even deeper, looking at the fundamental assets that drive innovation growth.

Katz and Wagner say that all Innovation Districts have three categories of assets: economic assets, physical assets, and networking assets. And, when combined with a risk-taking culture, an “innovation ecosystem” is created. In Fremont, our economic assets (innovation companies) are well-known, thanks to Tesla, Lam Research, and others. In fact, the risk-taking culture is especially acute here based on Fremont’s “hardware” orientation that necessitates longer lead times to market, and lower margins resulting from the cost of manufacturing.

However, Fremont’s physical and networking assets are works in progress. The Warm Springs plan calls for a number of infrastructure investments — including two bridges, pedestrian amenities, and a shuttle plan to knit together Fremont’s Innovation District. And from a networking perspective, new organizations such as the Silicon Valley Manufacturing Round Table and industry events such as the Clean Tech Open are helping to create stronger ties amongst our tech companies.

Katz and Wagner have assembled five strategies, or “best practices,” in creating Innovation Districts that reaffirm Fremont’s work so far.

 

1. Collaborative Leadership Network: Breathing life into Fremont’s Innovation District is a collaborative effort that is guided by its “FAST” committee (Fremont Advanced and Sustainable Technologies). This public/private partnership includes representation from multiple industries including technology, finance, education, and real estate.

2. Vision for Growth: The FAST committee has a white paper that discusses its vision and goals. Like many other innovation districts, branding efforts are underway — everything from gateway signage, to back links and window decals!

We’ve honed our competitive advantage by thoroughly examining our key clusters. For example, Fremont’s cleantech industry represents all five parts of the Smart Grid Value Chain. Opportunities in these areas could total as much as $120B by 2017. And, by working with the East Bay BioMed Manufacturing Network, we were able to quantify Fremont’s life science strength — over 100 companies and a supply chain 4x the size, mostly concentrated in the medical device area.

Fremont has certainly suffered from a preponderance of 20th century development and related infrastructure.However, this heavy infrastructure has also translated into opportunity by allowing for BART connectivity, development density, and zoning flexibility. The Warm Springs Community Plan sets the stage.

3. Pursue Talent and Technology: Our region has a unique platform from which to attract, retain, and grow talent. Our special niche in Fremont is sensor technology — developed by countless engineers in the semiconductor industry who have gone on to fuel growth in both the clean and biotechnology industries, as well as advanced manufacturing.

4. Pursue Inclusive Growth: We are engaged in numerous efforts including the Bay Area Prosperity Plan, the Design It — Build It — Ship It initiative, community college partnerships, and grant opportunities to help unemployed residents become engineering technicians. And while Fremont is already known for quality public schools, classroom space is at a premium. Plans for our Innovation District include a new elementary school that developers have agreed to fund.

5. Ensure Access to Capital: We don’t take private investment for granted. Fremont’s Prospectus positions and pitches the City’s vision for the future. On the public side, the City is leveraging its own land assets; at the federal level, prior EDA investment in Warm Springs will hopefully serve as a building block for future infrastructure grants.

Fremont and other cities across the nation from Chattanooga to Cambridge are embracing the Innovation District as a way to both seize opportunity and to correct errors of the past. The premise of “aligning with disruptive forces in the economy and leveraging their distinct economic position” is especially attractive and relevant. We are eager to continue the conversation, comparisons, and coop-itition that have been ignited by the Brookings Institute research on Innovation Districts.