Economic Development Lab helps communities and organizations apply innovative ideas to economic development. Areas of expertise include business incubation and commercialization, strategic planning, and economic sustainability. We help communities create jobs and become more competitive. Our team advances technology-led economic development by providing expertise and connections to Georgia Tech research and resources.
The Economic Development Labs team’s expertise covers a number of areas, including:
- Policy research – assessing science, technology, and innovation policies that bridge research and practice to promote competitive, economically-driven ecosystems. [STIP website]
- Feasibility studies – determining specific needs for communities and economic development programs. [CEDR website]
- Incubation readiness assessment – helping communities assess the feasibility of a new business incubator.
- Incubation best practices and program development – helping establish new business incubators and measure the effectiveness of existing programs.
- Faculty startup programs – assisting colleges and universities with faculty commercialization programs.
- Economic impact analysis – estimating potential new jobs and income in a community from new economic activity. [CEDR website]
- Fiscal impact analysis – helping local governments evaluate investments by providing estimates of future revenue and expenditures. [CEDR website]
- Strategic planning – defining a community’s vision and economic development priorities through analysis, including stakeholder interviews, community engagement, workforce and target industry analysis, and goal setting with leadership. [CEDR website]
- Organizational design and development – helping economic development organizations become more effective and efficient. [CEDR website]
Who Economic Development Labs Serves
Startup Ecosystems works with:
- Governments, economic development agencies (local, county, state, and federal), nonprofits, federal, and international agencies.
- Incubators, universities and colleges, and tech transfer organizations.
- Communities interested in economic advancement.
Economic Development Labs Economic Impact
Startup Ecosystems team members:
- Assisted communities with strategic planning and economic growth to develop an entrepreneurial business ecosystem.
- Supported the co-development and licensing of NASA technology.
- Provided market research and analysis for foreign entrepreneurs to launch in U.S. markets.
- Assessed the fiscal, economic, and social impact of major regional tourism development projects.
- Helped federal technology commercialization programs infuse technology into U.S. industries.
- Created faculty startup programs at universities.
- Developed methods to measure innovation in emerging technology such as nanotechnology and advanced manufacturing.
The Economic Development Lab group is part of the Enterprise Innovation Institute (EI2) at Georgia Tech, which helps enterprises improve their competitiveness to significantly impact the economy.