01 Attachment 5 What Could a Los Gatos
Innovation Hub Look Like?
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ATTACHMENT 5
What is an Innovation Hub?
A concentration of inventive talent working in collaborative spaces where
novel technologies (tech, biotech, medtech) are created and developed.
A hub typically includes:
1.Facilities for entrepreneurs with the necessities for a startup
2.Offices for venture capital, other investors and professional services firms
3.Places for customers of innovation (often representatives of large
companies) to work, stay, and be a part of the “innovation ecosystem”
4.Proximity to sources of breakthrough technologies are discovered (often
universities)
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Key elements and land use implications
Land use and zoning
•Lab, office, private and
collaborative workspaces and
shared facilities, equipment,
services and conference areas
•Can include "graduation"
spaces from incubator to
accelerator to stand-alone
startup facilities.
•Venture Capital Offices
•High quality cafes and eateries
•Nearby Conference facilities:
small, medium, and large
•High quality lodging
Environmental attributes
•Bikeable, walkable, or shuttle
connections to dining, retail,
and residences
•Transit access
•Opportunities for exercise,
strolling, and “ruminating”
•Sense of place
•OPTIONAL: Adjacent to housing
(can be denser than median)
that is market/affordable
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An example of a fully-developed and highly
productive innovation hub is an ecosystem
Startup Space
Established
Companies
(customers of
innovation)
Risk Capital
IP/Inventions
Public Policy
Graduation Space
Needs
Needs
Needs
Needs
Opportunities
Opportunities
Opportunities
Opportunities
ImplementSelectFind Nurture
Partnership
Nurture
Start Up
Launch
Start Up
Entrepreneurial and Startup Experience
Source: Deloitte Consulting
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◼Co-working spaces are designed as a
shared work/collaboration environment
where a desk or lab space is available on a
membership or casual basis
◼Co-working facilities are increasingly
expanding services and blurring the line with
incubators
◼Pre-Incubation is a program where
entrepreneurs/students receive an intensive
program filled with coaching on issues like
finances, business planning, intellectual
property, technology and sustainability
◼Pre-incubation program generally last 100
days and will provide the necessary support
to end up writing a solid business-plan.
◼Use of an “active incubation model," taking
on a managerial role and overseeing
day-to-day operations, developing the sales
and marketing strategy, putting necessary
systems in place, and eventually spinning it
off to investors
Co-working
Pre-Incubation
Management
of Portfolio
Companies
◼An intense, boot-camp like experience to
get new businesses up and running an a
matter of months (e.g. Ycombinator,
TechStars)
◼“In the next five years, a few hundred
accelerators will open” – David Cohen,
TechStars co-founder
◼Metrics such as jobs-created,
revenues-generated, graduates, etc.
Business
Accelerators
Measuring
Success
The core of an Innovation Hub includes highly-effective
incubation and acceleration
An Innovation Center has the greatest opportunity to take advantage of the “Pre-Incubation” and
“Co-working” trends due to its competitive advantage of being in close proximity to the source of
discovery and invention (IP) and the ability to partner with other organizations
Source: Deloitte Consulting
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