Innovation Based Economic Development Division
Startups and entrepreneurs play a crucial role in the Innovation Economy, driven by Innovation-Based Economic Development (IBED) or alternatively referred to as technology-based economic development. IBED encompasses five core elements: increasing research capacity, commercializing research, fostering entrepreneurship, increasing access to capital, and building a technically skilled workforce. An innovative economy transforms new ideas of products or processes, newly developed technologies into new jobs and businesses, fosters entrepreneurship, increases access to critical resources, and ensures economic prosperity and opportunity for all people, both today and for future generations in Nevada. Importantly, because this economy is built on a foundation of identifying and transforming new knowledge, the system continues to produce these benefits well into the future – beyond the boom-and-bust lifecycle of any one industry or business.
The Nevada Governor’s Office of Economic Development (GOED) is continuously creating and operating t strategic programs to support Nevada’s emerging innovation economy. We closely work with our ecosystem partners providing appropriate resources, thought-leadership and/ or actively running programs or program-components. Recent examples are the State Small Business Credit Initiative (SSBCI), EDA TechHub, and NSF Engines.
