Advancing Innovation and Technology Based Economic Development (TBED) in Virginia’s Lynchburg Region
The Center for Advanced Engineering & Research (CAER) and the Lynchburg Regional Business Alliance (LRBA) have collaborated on the development of a regional technology based economic development (TBED) plan for 2020 and beyond. This plan addresses the element of economic development focused on innovation or “Ideas”.
While there is no simple formula to developing a successful technology-based region, research on technology clusters points to at least five elements that are critical to building a technology-based economy.
- Intellectual infrastructure (R&D).
- Spillovers of knowledge (commercialization).
- Technically skilled workforce.
- Access to Capital.
- Entrepreneurial culture.
This site provides more information on the historical impacts of TBED and the region and the plans for the future.
It is with mixed emotions that I announce that I will retiring from my position as Executive Director of the Center for Advanced Engineering and Research (CAER) on December 31, 2020. During my 13 years with the CAER I have seen the region work together to accomplish...
The CAER has developed and delivered an updated technology based economic plan to the Lynchburg Regional Business Alliance. This plan is the next step in the integration of the work plans of the two regional economic development organizations. While there is no simple...