Economic Summit II - Remarks and Speeches

Wisconsin's Economy at the Crossroads:
Building Higher Paying Jobs for the Future

November 26-27, 2001
Midwest Express Center, Milwaukee

Summary of Daniel Burrus' Speech
November 26, 2001

Daniel Burrus was the opening keynote speaker for the Wisconsin Economic Summit II

In his presentation, he provided a list of six new industrial clusters and sixteen action steps. The following are highlights from his presentation:

"In these times of unprecedented change and uncertainty, it is more important than ever to look to the future and ask ourselves what we are certain about. Even though the Internet bubble burst seemingly long ago, we are still in the early stages of multiple, simultaneous, global revolutions driven by technological innovations that will effect how we live, work and play. The question is, will Wisconsin be behind the wheel or languishing in the back seat? It is crucial for Wisconsin to create a strategic, shared vision of the future and take action on the forces that are driving permanent, predictable change. This presentation is designed to provide valuable insights into present and future applications of recent advances in technology, enabling you to positively influence the future as you make sound planning decisions. You will hear solid evidence supporting the view that change is opportunity as you learn how to turn a rapidly changing environment into a competitive advantage."

"The state is well positioned to become a leader in new areas such as biotechnology, and nanotechnology, but we have to move fast! Guess what? You are not the only state having economic summits. I have recently delivered speeches in other states such as California and Texas, where state leaders also have focused on biotechnology and other high-tech industries as a potential source for new jobs. There is no advantage in keeping up. It's a fool's game. Instead we need to leverage the many unique advantages our state has that cannot be reproduced by other states."

Burrus' listed six new industrial clusters that represent a major growth opportunity for the state:

Nanotechnology/Micromechanics
Biometrics/Advanced Security Systems
Wireless Networking/Mobile Technology
Molecular Design/New Drug Development
Preventive Medicine/Diagnostic Devices
Optoelectronics

Actions Burrus Recommended:

Develop a collaborative Wisconsin "economic" strategic plan that has input from Business, Government, education and communities. (This will insure buy-in)
Rebrand our State. (Do not pick a single industry as we did in the past).
Foster and reward venture capital & angel investment.
Provide tax incentives for R&D, business startups and business relocation.
Link university resources to foster an enhanced entrepreneurial climate.
Create knowledge-sharing electronic communities for entrepreneurs. (Sharing best practices and best solutions).
Create knowledge-sharing electronic communities of practice for all of the economic clusters within the state.
Expand our energy infrastructure. (We are not ready for growth).
Extend our information infrastructure. (We need to stay ahead of the curve in bandwidth deployment).
Enhance our transportation infrastructure. (Many of our highways are already as crowded as California's, our airport expansion is on hold and we have not maximized out rail system).
Showcase our natural resources. (People move into a state for high paying jobs and quality of life).
Consider minor revisions¹ to the current industry clusters.
Foster the development of new clusters
Link the state's educational resources to current industrial clusters.
Reward employee education and training.
Reward and showcase the best schools and staff.

¹Burrus recommended a few revisions to current clusters:
Current clusters: Biotechnology/Bioinformatics
Medical Devices/Medical Informatics

Revised Clusters: Medical Devices
Biotechnology/Bioengineering
Bioinformatics/Medical Informatics

Rational for revision: Bioinformatics and medical informatics have more in common form a technical execution standpoint than liking them the old way.

Brief background:
Daniel Burrus is considered one of the world's leading technology forecasters, and is the founder and CEO of Burrus Research Associates, Inc., a Wisconsin based research and consulting firm that specializes in global innovations in science and technology. www.burrus.com