Technology maturity and high tech venture attractiveness: A model for emerging technology based economic development

Exceptional regional economic development is fueled by Schumpeterian cycle. Further, Schumpeter´s economic growth cycles are initiated by emerging technologies. However, as the name implies emerging technology based products are often not fully developed. Moreover, they are often sponsored by small firms seeking to disrupt a current industry standard technology product paradigm. These are the firms that when successful generate economic job and wealth creation in the regions they reside. These firms need resources to initiate and sustain but they are typified by lower Technology Readiness Level (TRL) technology product paradigms targeted at ambiguous markets. Such firms are often eschewed by today´s funders and other resource providers. Yet, if emerging technologies are the wellspring of new Schumpeterian driven cycles of economic development and the firms that underpin that development cannot be sustained then there is cause for concern. Here, we investigate if regional economic development efforts have generated any resource support for firms which focus on emerging technology based commercialization. We do this using the case study method. We seek to understand how different regions are improving the financial entrepreneurial environment. We use secondary data research techniques to find the activities those regions are performing that assist entrepreneurial and intrapreneurial efforts in their region. We provide a first ever model for economic development based on emerging technology and technology entrepreneurship. We find to our surprise some pervasive techniques but overall little commonly in the ways regions assists these firms´ efforts.