Where Innovation Happens by Tim Rowe
In this post, I share a "fireside chat" I was part of at the Housing Innovation Summit held on April 29th at the University of Massachusetts Lowell.The conversation was moderated by the UMass Lowell Vice Chancellor Anne Maglia. I was joined onstage by Kei Hayashi, Principal at BJH Advisors. Kei spent much of her career at New York City's Economic Development Corporation, and is a housing expert. We discussed why housing is one of the hardest and most important innovation challenges in the United States, and what we might be able to do about it leveraging the concept of innovation hubs. Other speakers included the Commonwealth of Massachusetts Secretary of Housing and Liveable Community, Juana Matias and the Chancellor of UMass Lowell, Dr. Julie Chen, and a slew of experts and technologists in the field. The full program can be found here: https://www.uml.edu/research/buildsmart/events.aspx.Our home state of Massachusetts, like many places around the world, does not have enough homes that people can afford.We explored why housing has been so resistant to innovation, even while sectors like software, biotech, finance, logistics, and advanced manufacturing have changed dramatically.A big part of the problem is that housing is not just one industry.It is made up of layered disciplines, including construction, finance, land use, zoning, policy, materials, community needs, workforce, infrastructure, and local politics all wrapped together.That makes it hard for startups and new technologies to break through.But it also means that the opportunity is enormous, if we can "fix" it.In this conversation, we explore whether it might be possible to build an innovation hub focused on reducing the cost of delivering new houses.We talk about some of the technology solutions, such as modular housing, factory-built construction, AI, robotics, advanced materials, new financing models, public-private partnerships, and the role of universities and cities in creating places where new ideas can actually be tested, but also some of the possible solutions in other areas such as housing finance.I share some of my learnings from co-founding CIC, LabCentral, MassRobotics, and other innovation hubs.I make the point that innovation ecosystems need not happen simply by accident: we can build them.Of course, they require strong people, shared tools, convening power, trust, capital, and a reason for the best people in a field to gather in the same place.That is true in life sciences in Kendall Square.It is true in film in Hollywood.It is true in finance in New York.And it may now be possible to create something similar for housing innovation in Lowell.Kei brings a thoughtful real estate and planning perspective to the conversation.She talks about the barriers that make housing hard to innovate in, the importance of public-private partnership, and the need to think not only about the cost of housing, but also about the quality of life inside the home itself.As mentioned, we also discuss a possible new model for financing housing innovation.New housing technologies often struggle because banks do not want to finance what has not yet been proven.That creates a gap between invention and deployment.One idea we discuss is whether public capital could help bridge that gap in a way that supports innovation, gets repaid (as opposed to a subsidy), and helps bring down the cost of housing at scale.This episode is about housing, but it is also about a larger question at the heart of this show:How do we build places where entrepreneurs, researchers, policymakers, builders, investors, and communities can work together to solve problems that are too big for any one organization to solve alone?Housing may be one of the oldest industries in the world.It may also be ready for one of the biggest waves of innovation it has ever seen.
17 episodios
Comentarios
0Sé la primera persona en comentar
¡Regístrate ahora y únete a la comunidad de Where Innovation Happens by Tim Rowe!