Updated: Jul 5, 2019
Jerry McQuoid - the story of South Bend and the Exchanges role in enabling Economic Development through Federal Channels.
In addition to the most intelligent government marketplace, one of the differentiated ways the Ratio Exchange creates value across the nation’s innovation ecosystem is through regional Hubs. Hubs serve as centralizing points along the ecosystem, connecting supply and demand within a region, and more broadly across the USA. Demand driven needs from the Federal Government and Federal Integrator's and Supply driven needs from the technology and services sector are for the first time connected in one place, with total transparency. The Exchange serves as the technology enablement backbone. In the mid-west, the Ratio group’s Hub is based in South Bend, Indiana.
Third Coast Federal (TCF) immediately saw the value of bringing together various parts of the public and private sector industries into one complimentary platform, and was an early adopter of the Exchange platform. TCF named their mid-west regional Hub, Federal Navigator. In particular within this region, the northern mid-west corridor is one of the epicenters of our nation’s manufacturing industry and is leading the nation in advanced manufacturing. Combining this emerging industry with robust innovations being developed by professors and graduate entrepreneurs within universities like Notre Dame and Purdue, TCF saw an opportunity to accelerate regional innovations via Federal SBIR, STTR, and Grant revenues to supplement dollars already being spent on Research and Development (R&D). TCF and their regional R&D Accelerators have seen enormous growth, and interest, in their region within the past 18 months.
Based on this flourishing demand, TCF launched the first of many SBIR accelerators, which successfully captured over $50 Million in SBIRs and STTRs for regional companies. Furthermore, this infusion of R&D funds into the local economy has resulted in multiple commercialization opportunities and ultimately over $170 Million in awards via Federal Basic Ordering Agreements (BOAs) for products and service from regional startups and established companies to the government. Finally, TCF and RATIO have integrated a regional focused Grants Engine that matches university research professors to federal grant opportunities resulting in a 200% growth of grant awards for regional universities.
A byproduct of mid-west SBIR and STTR Accelerators is the participation of regional companies competing in the Federal Market. TCF and the Exchange has demystified the federal space for commercially focused companies that are now accelerating their growth and revenue via federal contracting opportunities. This realization is now driving Regional Economic Development organization participation in TCF’s vision by providing deep insight into regional economic performance and short falls allowing EDC’s to proactively assist their local industries to sustain and more importantly accelerate economic growth.