Koreans Incubate in Fairfax County, Virginia

Here is an example of a real economic development innovation.

A group of Korean entrepreneurs are housed in the Korea Business Development Center, an incubator financed largely by the Korean government that helps Korea-based companies launch and expand in the United States. Many are in the research-and-development phase, flying between laboratories in Seoul and sales operations in the United States.

Here's the hitch--It's based in Fairfax County, VA! That's right...Koreans building new business in the U.S. for the U.S market.

The one-room office allotted to each may be tiny, but these innovators cram them with big dreams. As they make their pitch to anyone who will listen, at trade shows, networking lunches and cocktail receptions, the businesses are battling to compete with multibillion-dollar U.S.-based companies also charged with finding the Next Big Thing.

Read more here.