PROVIDENCE – Local entrepreneurs and leaders from the state’s business, education and health care sectors gathered today with state and local officials to share a new “roadmap” for the 21st-century knowledge economy.

“There is a tremendous wealth of talent in and around this great city of ours, from biomedical research and life sciences to medical device design to environmental sciences to product and industrial design,” Providence Mayor David N. Cicilline told the gathering at The Westin Providence hotel.

The session – which included two panel discussions: one featuring local business leaders, and the other, state and municipal leaders – was part of a statewide Knowledge Economy initiative launched last year.

The effort has brought together civic, academic and business leaders to identify ways of growing the region’s medical, technology, research and design and alternative-energy sectors by identifying, coordinating and supporting regional assets, competencies and networks, the Chamber said.

“Through this process, we have developed a unified plan for economic development over the next 10 to 20 years, which will position Rhode Island as an international leader in health care, technology, renewable energy, and product design,” William F. “Bill” Hatfield, president of Bank of America’s Rhode Island operations, told the crowd. “It is a vision that relies on deep collaboration among industry and institutional partners to energize the research base and next generation of entrepreneurs.”

The drafting of the project’s Knowledge Economy Roadmap was completed this March - based in part on the Chamber’s “Knowledge-Based Economy Survey” earlier this year (READ MORE). Since then, the initiative says on its Web site, six “Hot Teams” have been working to determine how best to implement its goals.

One key goal, the Chamber said today, is the creation of the work force “at all skill levels required to sustain and expand these industries.” The business advocacy group also stressed the importance of “continuing to nurture” the city’s entrepreneurial spirit.

“The number of nationally and internationally renowned academic and hospital-based research institutions in and around Providence provides tremendous opportunity for us to leverage and engage young people in this endeavor,” said Constance A. “Connie” Howes, the president and CEO of Women & Infants Hospital. “We have an opportunity to create Centers of Excellence around these disciplines and truly drive a thriving economy.”

Howes also serves as chair of the Innovation Providence Implementation Council. The panel’s vice chairmanship is shared by Bank of America’s Hatfield; Saul Kaplan, director of the R.I. Economic Development Corporation (EDC); and Richard R. Spies, executive vice president of planning at Brown University.

Various projects now in the works will create centralized space for entrepreneurial activity, “wet-lab” space for researchers and a design incubator, and generate seed capital for entrepreneurs, added Laurie White, president of the Greater Providence Chamber of Commerce. And going forward, Kaplan added, his agency and the Chamber will work together to ensure the alignment of public and private economic development efforts.

In his own comments, Kaplan stressed the need to retain more of the state’s college graduates. “The region’s younger generation is an underutilized resource and must be better leveraged in our efforts to create a high-wage knowledge economy in Rhode Island,” he said.

“A central piece of this effort is the development of a multi-university coordinated internship program and related online portal. Another element is a ‘Dormcubator’ and targeted Microseed Fund that will facilitate the development of small-scale businesses by students.

“Programs of this type are vital to attracting and retaining young talent, and in turn, fuelling growth in high-wage, innovation-based industries across our state,” Kaplan said.

Today’s event was presented by the Greater Providence Chamber, in collaboration with the EDC, The Providence Foundation, the Association of Independent Colleges and Universities of Rhode Island (AICU Rhode Island, formerly the RIIHEA), the Innovation Providence Implementation Council, the Providence Economic Development Partnership (EDP) and the office of the mayor.

“Today’s briefing marks an important turning point for the city and state,” said White, the Chamber president. “As a community, we have connected the dots in a way that has never happened before.

“By fostering academic-industry collaboration, building entrepreneurial capacity and facilitating the commercialization of technologies developed by local universities, companies and startups,” she said, “we bring together the region’s most promising strengths to create a stronger and more vibrant economy.”

The Greater Providence Chamber of Commerce aims to foster a healthy business climate throughout Rhode Island through public policies, economic development and business-to-business relationships. Based in downtown Providence, it has more than 2,700 member businesses across the state. To learn more, visit www.ProvidenceChamber.com.