The REDI stakeholder meeting summarized the Regional Economic Development Initiative (REDI) and its goals to promote economic growth in Silicon Valley through public-private collaboration. REDI identified key industries like IoT, smart buildings, transportation, and health tech and formed action teams to develop strategies and commitments in areas like enhancing business connections, demonstrating new technologies, and accelerating innovation. REDI will continue convening stakeholders and action teams to finalize plans and achieve early successes in supporting these industries and marketing Silicon Valley as a center for innovation.

1. REDI Stakeholder Meeting

2. What is the Regional Economic Development
Initiative (REDI)?
• REDI is a private-public partnership engaging
stakeholders in a collaborative effort to create jobs
by focusing on Silicon Valley's most promising
economic opportunities.
• Regional economic competitiveness requires a
coordinated strategy and action.

3. Why is REDI Important?
• Silicon Valley is a hotspot for innovation and startups,
but faces increasing challenges to growth:
– Increasing competition from regions around the nation
and globe developing innovation economies.
• E.g. Tel Aviv, Munich/Stuttgart, New York City, Austin and
Seattle
– High cost of housing and the relative cost of doing
business in Silicon Valley make it increasingly difficult
for firms to locate and grow and attract talent.
• A collaborative regional approach is needed to remain on
top.

4. What is REDI?
REDI strives to build on regional activities and create
one regional voice to:
• Promote the region
• Recruit New Businesses
• Retain Existing Businesses
• Attract Public Investment
• Support Local Entrepreneurs

5. Funders of REDI
South Bay Construction | Cosmopolitan Catering | Robinson Oil | Adobe
Silicon Valley Community Foundation | Joseph J. Albanese, Inc.
Barry Swenson Builder | Bozzuto Insurance Services | Hensel Phelps | GivePoint Partners LLC
Alliance Roofing Co | Blach Construction

7. Early Findings: Silicon Valley’s Opportunity
The emergence of Internet of Things (IoT) is a
key driver of future opportunities in Silicon
Valley, with potential to continue the region’s
evolution in innovation breakthroughs

8. Early Findings: Silicon Valley’s Opportunity
IoT is creating a number of new opportunities for companies
to connect with each other and with public sector partners
to leverage exciting innovations in:
• Agile Development and Manufacturing
• Smart Buildings
• Transportation R&D
• Health Technology
REDI is mobilizing private sector business leaders in each
of these four areas to create and implement an action plan to
grow the sector.

9. Where is the value potential of the
Internet of Things?
What is IoT?
Digitizing the physical world; sensors and actuators
connected by networks to computing systems
What is the potential economic impact?
$3.9-$11.1 trillion by 2025
What types of opportunities exist?
• Transform business processes
• Enable new business models

10. Where is the value potential of the IoT?

11. Role of REDI
• Regional convener of business, local government
and community partners to accelerate job creation,
innovation and business opportunities.
• REDI forums will define community challenges that
business can help address in each of these
opportunity areas while marketing the region as a
center of innovation.
• Convene, Collaborate & Champion

12. Action Team Updates

13. Agile Development & Manufacturing
Opportunities to Grow the Industry
• Growing End Markets and New Products
• New Processes
• Unique Regional Advantages
• Economic Trends
Goals for the Agile Development & Manufacturing Action Team
• Expand jobs and economic impact of the industry
• Expand the manufacturing talent pool in Silicon Valley
• Build awareness of the value of manufacturing in the region
• Improve connections among regional businesses, and
education systems

14. Agile Development & Manufacturing
Enhancing Business to Business Connections and
Building the Talent Pool are priority action areas,
including the following strategies:
• Centralize information and resources about Silicon
Valley manufacturers and resources for B2B
connections and talent development;
• Articulate the competitive advantages of manufacturing
in Silicon Valley;
• Promote Silicon Valley’s manufacturing “brand”;
• Develop a platform to actively broker connections
among manufacturing customers, suppliers and
potential business partners; and,
• Support additional alignment and industry engagement
with education and workforce systems.

15. Agile Development & Manufacturing
Action Team Commitments
• Develop an ongoing forum to promote business to
business connections in Silicon Valley.
• Advising creation of an online resource directory and
connection hub to generate stronger local buyer-
supplier relationships, including a map of local
manufacturers.
• Develop a compelling rationale and “brand” for
manufacturing in the region. The team is developing a
series of case studies of clients choosing Silicon Valley
manufacturers/suppliers in the region for products,
especially within high opportunity industries (including
Health Technology and transportation).
Early Actions
• Drafted first company case study as a model for the
case study series

16. Smart Buildings
Opportunities to Grow the Industry
• Growing Market Demand
• Changing Technology
• Shifting Policies
• Changing Social and Environmental Issues
Goals for the Smart Buildings Action Team
• Expand jobs and economic impact of the industry
• Raise awareness of smart building technologies
and benefits
• Increase coordination and collaboration of
organizations

17. Smart Buildings
Market Development is a priority action area,
including the following strategies:
• Obtain smart buildings industry data to identify
areas of improvement, particularly related to
building energy usage data and technology
adoption.
• Build awareness of smart buildings technologies
and benefits to increase the deployment of products
and services.
• Accelerate development of the market and
technology adoption.

18. Smart Buildings
Action Team Commitments
• Partnering with PG&E to work on opportunities with
small and medium businesses to improve building
efficiency.
• Working with City of San Jose to identify potential
demonstration/pilot projects for innovative smart
building technologies.
• Creating a marketing/outreach strategy to reach
target audiences and build awareness of smart building
technologies and improve efficiencies.
Early Actions
• Developed a white paper that synthesizes the data
available to identify priority areas for action and
measure ongoing progress in growing the regional smart
buildings industry

19. Transportation R&D
Opportunities to Grow the Industry
• Growing End Markets
• New Products and Technologies
• Unique Regional Assets
Goals for the Transportation R&D Action Team
• Expand jobs and economic impact of the industry
• Raise Silicon Valley’s profile as a “test bed” for
transportation technologies
• Work to address the region’s traffic and related
safety issues

20. Transportation R&D
Collaboration around demonstration and adoption is
a priority action area, including the following
strategies:
• Define the problem as congestion and safety to
motivate action and collaboration around
multifaceted transportation solutions;
• Articulate a call to action;
• Develop a central forum to encourage collaboration
and information exchange; and,
• Engage senior public and industry leaders in the
forum design and implementation.

21. Transportation R&D
Action Team Commitments
• Showcase event with senior public and local
elected leaders to raise awareness of
transportation technologies being developed in the
region, and the opportunity for these technologies
to address key regional challenges: congestion
and safety.
Early actions
• Developed a white paper articulating the
economic opportunity of transportation
technologies in Silicon Valley, and a call to action
to public and private leaders to collaborate on
solutions

22. Health Technology
Opportunities to Grow the Industry
– Growing Market Demand
– Health Technology Convergence
– New Products and Services
– Cost Drivers
Goals
• Long-term: Make Silicon Valley a known center of health
care technology innovation
• Short-term: Strengthen connections between health
system end users and local entrepreneurs and tech
companies

23. Health Technology
Opportunity: Create an Industry Catalyst that
could:
– Expand collaboration between entrepreneurs and
health systems;
– Accelerate innovation through access to data;
– Promote Silicon Valley as a center for Health
Technology innovation, and
– Develop technical talent.

24. Health Technology
Action Team Commitments
• Convene an initial forum in Fall 2015 provide a
venue for startups to understand customers and
real-world barriers to execution, as well as for
institutions/health systems to find solutions to
health care problems.
Early Actions
– Hospital Council met to identify top health care
challenges in need of a tech solution.
– Developed White Paper on Health Technology
initiatives in the region and similar collaborations
nationwide.

25. Role of REDI Moving Forward
• Convener of business, local government, and
community partners to advance regional economic
competitiveness and accelerate job creation.
• The SJSV Chamber can be the backbone
organization for REDI forums.
– Identifying funding for ongoing support
– Convening stakeholders around opportunity areas
and mobilizing around action strategies
– Marketing the region as center of innovation

26. Mayors Caucus
Regional Economic
Development
Leadership Council
Health
Technology
Smart
Buildings
Agile
Development
&
Manufacturing
Transportation
R&D
Mayors
Caucus

27. Next Steps
August - September
– REDI action teams will finalize action plans
– REDI stakeholder group review action plans
October
– REDI public launch event with the Silicon Valley
Business Journal – Oct 13th
September-December
– REDI action teams work on identified action steps
and achieve early wins