Futures Commission Releases 10-Year Innovation Plan to Support Oregon's Economy by Investing in Innovation
Today Business Oregon announced the release of Oregon’s 10-Year Innovation Plan, developed by the Futures Commission, a public-private thought leadership group formed in 2020 to lead a state-wide conversation on innovation. The plan is built on the foundation that the continued vitality of Oregon’s economy and the state’s high quality of life rests on its ability to encourage innovation.
“Oregon has an extraordinary, once-in-a-century opportunity to reshape the businesses and jobs that help our state to thrive,” said Jenn Lynch, Co-Chair of the Futures Commission and Oregon InC Chair. “Oregon’s Innovation Plan will help the state seize that opportunity, by catalyzing businesses that are solving the hardest problems of our generation,”
The Futures Commission is comprised of 31 leaders from industry, academia, philanthropy, and the public sector, along with successful entrepreneurs. The Commission reviewed Oregon’s existing innovation ecosystem and engaged with more than 125 diverse stakeholders across the state to inform the plan.
Through this increased focus on innovation, the plan aims to orient the economy around better-paying jobs with higher growth potential, help the state weather future economic challenges, encourage participation among populations presently underserved in the innovation economy, and position Oregon as a national and global leader in critical innovation sectors.
“An innovation-based strategy is key to creating sustainable, high wage jobs in all economic sectors of the state,” said Kanth Gopalpur, Futures Commission Co-Chair and Business Oregon Commission Chair. “It is imperative however that the benefits of this strategy be shared by ALL Oregonians and the Innovation Plan is very intentional about achieving that outcome."
The four strategies of Oregon’s Innovation Plan are:
- Foster “Ideation” – Help Oregonians turn ideas into new commercialized products demanded by both Oregon’s existing industrial base and emerging markets.
- Strengthen the Ecosystem - Develop entrepreneurial support services that meet the needs of early-stage startups as well as more scalable businesses across the state
- Catalyze Risk Capital – Ensure there is access to capital at all stages of a company’s development, particularly higher-risk, early stages.
- Tell the Story - Promote Oregon as a place to start and grow an innovative company.
The 10-Year Innovation Plan will be implemented primarily through the Oregon Innovation Council and the Oregon Growth Board, in coordination with partners throughout the state. Initial actions will roll out this summer, with activity ramping up in the coming years.
The full plan can be found on the Oregon Innovation Plan website.
Media Contact: Nathan Buehler, 503-689-3559