Omaha Innovation Ecosystem Assessment & Development Strategy
11th Street Enterprises
Economic Strategy
11th Street Enterprises represents a core group of Omaha philanthropists and members of the entrepreneurship community. Omaha boasts a diverse and vibrant economy with thriving finance, healthcare, logistics, and agriculture industries and benefits from its central location, allowing for easy accessibility and connectivity to major markets.
Fourth Economy was engaged to assist with their efforts to harness the potential offered by innovation-based economies as a pathway for expanding opportunity and building wealth.
Our Approach
Fourth Economy, along with Mass Economics and Urban Impact Advisors, completed a robust assessment of the region’s innovation ecosystem. Fourth Economy conducted research, surveyed best practices from successful innovation-based economies, and interviewed investors, industry and nonprofit leaders, company founders, and local government representatives to gain insights into the needs and concerns of the innovation & Entrepreneurship community.
The Results
Our findings highlighted that Omaha’s innovation ecosystem has strong assets but remains too small and fragmented to compete with larger, more established hubs. To address this, we worked closely with the Steering Committee and client team to outline three priority strategies:
Creating a ‘backbone’ organization to coordinate and advocate for Omaha’s innovation ecosystem.
Developing an innovation district to serve as a physical hub for startups, research activity, and entrepreneurship support.
Establishing a state-level investment strategy to strengthen Nebraska’s R&D, talent pipeline, and workforce development.
These recommendations directly informed the successful application for an $8 million implementation grant, which is now funding the setup of the backbone organization. This entity will lead the charge in aligning efforts, attracting investment, and positioning Omaha as a premier innovation hub in the Midwest. Our final report provided clear, actionable steps for moving forward, equipping stakeholders with the insights and framework needed to drive long-term economic growth.
Location
Omaha, NE