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Report Signals Strength of Austin’s Cleantech Economy – So How Did we Become a Technopolis?

volts pecan stWhile growing up in Austin in the 70’s and 80’s, I did not fully appreciate one of the most important movements for the city was underway – the transformation of Austin into a hub of technological innovation. We can thank Dr. George Kozmetsky for that. While Dean of the College of Business at University of Texas in 1977, he founded the IC² Institute (which stands for Innovation, Creativity, and Capital) on the premise technological innovation can catalyze regional economic development by creating and leveraging synergies among the university, government, and private sectors. He understood the importance of collaboration and how communities working together across sectors can strengthen the economy.

More evidence of Dr. Kozmetsky’s leadership showed up last month when the Austin Technology Incubator and CleanTX Foundation, organizations born out of IC², provided the first ever Economic Impact Report for the Cleantech Sector in Central Texas. The report indicates the Austin Metropolitan Surrounding Areas have added $2.5 billion to the regional GDP with 20,000 jobs directly in the cleantech sector, and is expected to grow at 11 percent annually by 2020, almost twice the national growth rate. Furthermore, Clean Edge just named Austin as one of the top 10 metro areas for cleantech leadership in the nation.

These impressive cleantech numbers reflect an ecosystem that has flourished because of the technology foundation put in place three decades ago. Yet many people in the technology world in Central Texas today don’t know the critical and crucial role Dr. Kozmetsky played in its vision and development.  Read More »

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