The next level of mapping allows the analysts to assess the strengths and weaknesses of assets and identify gaps in their regional innovation platform. Through secondary and some primary research, the asset mapping team will be able to evaluate the significance and impact of each major type of regional asset.
Process Overview: The mapping project team should use publicly available data to obtain metrics that indicate the relative value of an asset to the region. In addition, in this stage, regional leaders should select a set of competitor regions for benchmarking. By benchmarking assets against national norms and key competitor regions, regional leaders will develop a stronger sense of key areas for improvement. Typically, the benchmarking regions should include some combination of:
Regions that are in close proximity to the home region
Regions that are known to compete for the kinds of business investment that is currently and/or planned to be the focus of the home region
Regions that are perceived to have similar characteristics/challenges to the home region
Consideration should be given to including relevant competitors from outside as well as within the United States.
NEXT: Go to Mapping Level 3: Comprehensive Assessment