Propulsive, Innovative, and Creative Approaches to High Tech Local Economic Development
There are a group of theories of high tech growth which seek to explain some of the dynamics within a region or set of regions over time.One set of theories stems from the growth pole and diffusion theories which state that innovation and its spin-off businesses move geographically outward from a pole or growth center, diffusing or trickling down. Others claim this is no longer the case in the information age, and age of inter-linked firms with extensive branch plants. i.e. those who sit waiting in the hinterland for a trickle down effect may wait a long time.
Another group of theories focuses on the resources and amenities of a region to support the startup of a new industry agglomeration. Frequently if a region does not have sufficient resources to sustain the high startup costs , or a high enough level of resources to stimulate an agglomeration effect, then resources must be brought in from outside. One way of doing this is to solicit branch plant operations of established firms to provide the initial boost to the economic hub. Solid research on the requisite components for High Tech development (like several Universities in a close range, and plenty of entrepreneurial talent to practicalize the theoretical research) helps to focus on which aspects of resource must be developed and assisted by Government.
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