Atlanta can build its own Research Triangle Park

by Greg Foster on November 14, 2008

As a Georgia Tech student, you are programmed to believe that The University of Georgia is the enemy.  Any given weekend in the Fall in which Tech wins and UGA loses (e.g. the weekend UGA fell to Florida and Tech beat FSU) will find most Tech fans in an almost euphoric state.  Since I grew up in a “Bulldog family”, I’ve always had a tough time hating UGA even when I was an undergrad at Tech.  Most of my college buddies, however, would love to see the entire athletic department at UGA fall off the face of the earth.  Given the high number of UGA and Tech grads that stay in the Atlanta metro area, the rivalry between the two schools has, for decades, permeated the business landscape, too.  There are certain Tech business moguls (i.e. Taz Anderson, the late Kim King, our own firm’s patriarch Charlie Moseley) and certain UGA moguls (e.g. Billy Payne, etc.).  For the most part, these business fraternities remain provincial.  Indeed, the rivalry on the football field and basketball court can many times translate into business dealings, too.  More importantly, it tends to translate into university relations as well (joint research initiatives, consortia, etc). 

 

For most folks in Atlanta who didn’t go to either school, the translation of the UGA/Tech rivalry into business and academic relations makes no sense.  The objective observer looks at UGA and Tech and sees huge opportunity for cooperation and value creation.  Throw Emory University into the mix, and we have the makings of our own Research Triangle Park (UGA is our UNC, Tech is our NC State, and Emory is our Duke).  One could even argue that in specific programs, Atlanta’s triumvirate trumps the RTP in North Carolina.  Add in the fact these schools reside in the largest metro area in the South, and the case becomes even stronger. 

 

So what can we do to build this kind of RTP here in Atlanta?  I will discuss this in my next post.  I welcome your comments…

 

Stay tuned…

{ 3 comments… read them below or add one }

Andy 11.15.08 at 10:09 am

Interesting Thought… I do believe with over 30 institutions of higher learning, Atlanta has the intellectual horsepower and diversity of thought to create phenomenal alliance.

However, I do believe that the conversation has to start with Atlanta’s unique strengths versus a “me-too” initiative. RTP works very well, but it still isn’t Silicon Valley. Atlanta shouldn’t try to be RTP or Silicon Valley… those positions have been taken. Atlanta needs to find the market vacuum that it is uniquely poised to fill.

For example, Atlanta ranks third in the number of Fortune 500 companies headquartered within its city boundaries, behind only New York City and Houston. The Raleigh-Durham-Chapel Hill region can’t boast this type of access.

Most innovation occurs at the margins, in small entrepreneurial ventures. Larger Fortune 500 companies prefer to pay a premium for innovation once it’s proven. Why not create an informal environment where these larger companies can help fund, watch and mentor innovators outside their corporate walls? Then participants can cherry pick and acquire the best performing companies right in their own backyards.

This seems like a great opportunity for Atlanta’s universities, entrepreneurs, and venture capital community. The key is to start small, give it a cool name, find someone who is passionate about the idea and is willing to lead others who are too, and watch it grow.

David Cummings 11.18.08 at 10:18 am

I agree with Andy that Atlanta doesn’t need to build its own RTP but rather focus on the inherent strengths already present, and brand it accordingly. As a Duke undergrad, I was very involved in the local entrepreneurial scene, started a software company, and subsequently moved the company to Atlanta.

Here are some of the pros and cons of RTP and Atlanta:
- Duke did a very good job of embracing the business and entrepreneurial community with events at the business school, an annual business plan competition ($100k prize each year), and incorporating the neighboring schools. I’m not in the same student position at the Atlanta events, but I don’t get the feeling that as many students from other schools like Emory attend events at Georgia Tech.

- The CED does a good job of getting the local universities together as well as facilitating the entrepreneurial community. Atlanta doesn’t have such an organization. TAG Entrepreneurs fills a piece, ATDC fills a piece but is heavily weighted to Georgia Tech, and other organizations fill in smaller pieces.

- Atlanta is an awesome place for young professionals. For my graduating class at Duke, the majority of students left Durham and moved to SF, NY, and DC. I didn’t want to move to one of those places (I grew up in Florida and enjoy the south), but I wanted a bigger city environment. Atlanta fit the bill perfectly. At least 10 of my employees moved to Atlanta after college without a job because it was a city they wanted to live in and they knew there were lots of good opportunities.

- Atlanta has a very strong EO chapter. I wasn’t a member of EO (YEO) in RDU, so I can’t compare the two, but EO in Atlanta has 110 members, great events, and some of the best people I know.

I think both places are incredible for building new companies, and much better suited than the vast majority of cities. Atlanta needs to hone in on its strengths, and I’m looking forward to helping in the process wherever possible.

Greg Foster 11.20.08 at 2:09 pm

Both great thoughts… being up in NC’s RTP this week was an eye opener. The community there is tight knit, like Atlanta’s community, but also very open to newcomers and inviting to folks in Boston and the Valley looking for a nicer place to live, a change of place, etc. Those folks add a lot to the community and provide some necessary cache to the deals in which they involve themselves.

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