"Economically, what has happened in Texas over the course of the last decade has made this city an epicenter for a lot of technology, a lot of economic development," he told CBS. "And I think the individuals in North Korea understand that Austin, Texas, is now a very important city in America, as do corporate CEOs and other people who are moving here in record numbers".
The implications of patenting spread further, as innovation, technology, and knowledge development are crucial drivers of economic development and technology transfer resulting from international trade and investment.
Going forward, growth and prosperity in communities around the world will depend on three enablers of creativity, which the authors call 'the 3Ts of economic development': Technology, Talent and Tolerance.
These Creative Connectors are implementing Florida's 4T's of economic development – technology, talent, tolerance and territory assets.
Within this landscape, incubator firms are able to achieve their primary goal of economic development, technology transfer, fostering entrepreneurship, and job creation.
Regional technology clusters are an important source of economic development, yet in biotechnology few successful clusters exist.
Most of the existing studies relating Gross Domestic Product (GDP) and Energy Consumption (EC) use countries as the unit of observation which complicates the interpretation and generalization of results because countries differ greatly in their stage of economic development, culture, technology and so forth.
This relationship is also likely to appear in the effect of economic development on technology innovation.
For example, high-powered incentive exists in the field of economic development, aerospace technology, competitive sports, high-speed rail, disaster relief, and reconstruction, while in the areas of food safety, production safety, social security, and environmental governance, the incentives are relatively weak (Zhou 2007, 2014; Lian 2016).
The center was built on the idea that developing countries could use biological and microelectronic technologies to leapfrog the industrial stage of economic development.
