An initiative of Prosperity Through Innovation, the Knoxville Chamber’s strategic vision, is to develop and implement an innovation-growth strategy. The Regional Innovation Growth Strategy (RIGS) white paper fulfills that initiative and seeks to develop ways to fully utilize the presence of the Big 3 (UTK, ORNL, and TVA) and create a true innovative culture. The strategy focuses on talent, infrastructure, and business climate. We believe that innovation and its subsequent ecosystem are a critical aspect of a vibrant, economically successful community, especially one that wants to grow jobs, retain and attract talent, and increase prosperity.
Regional Innovation Growth Strategy
Talent Recommendations
- Develop, recruit, and support more company founders in innovation industries; talent in innovation occupations; and faculty, scientists, and researchers focused on translational research and original intellectual property (IP)
- Significantly expand the number of graduates in biological and biomedical sciences, mathematics and statistics, and physical sciences (BMPS)
- Place a greater economic emphasis on the University of Tennessee Institute of Agriculture (UTIA)
- Advocate for the creation of more innovation-support personnel (e.g., commercialization managers and legal assistants) positions
Infrastructure Recommendations
- Develop tools to identify asset-based (i.e., “Big 3”) solutions more easily
- Improve and expand continuity of support for innovation industries’ companies
- Continue to increase access to capital for innovation industries’ companies
- Create innovation-based incentives
- Assemble a “constellation” of companies in innovation industries
Business Climate Recommendations
- Continue to advocate for improved collaboration
- Increase state support for innovation
- Engage larger companies in innovation activities
- Promote a culture of innovation