International ED Partnership: An Example
From Fairfax County, VA

Here is a perfect example of what I have been talking about over the past year. EDO's should be partnering with their national and international counterparts to achieve key economic development goals in a highly collaborative and innovative environment.

The Fairfax County Economic Development Authority (Virginia) has joined with Invest.UK, the British Government's economic development agency, in a competition that encourages technology, telecommunications and biotechnology companies in the U.S. and the U.K. to expand across the Atlantic.The U.S. winner, which can be a technology, telecom or biotech company, will be awarded a choice of a U.K. incubator or science park that is best suited for the company's international expansion plans.

The final package will likely include one year's free rent, management services; lab space and equipment; access to support staff, facilities and conference rooms, and access to valuable advice, skill sets and a ready-made business network. The U.K. has a large network of business incubators and science parks that is an important link in that country's technology and research and development sectors.The British winner, which must be a biotech company, will get a free year in the Fairfax County BioAccelerator, a bioscience business incubator that opened in late 2002 and has space for up to 12 companies.

This is a "cool" idea! My congratulations to the sponsors and participants.

Go here to read more. Go here to read about my proposal on national and international ED partnerships.