How to turn Albany into technology hub; Area business leaders weigh in on improving the region's profile

ALBANY - What does the Capital Region lack that other successful high-tech areas have?

Local entrepreneurs, venture capitalists and business experts tried to crack that case Tuesday during an online discussion hosted by the Center for Economic Growth, an Albany-based regional economic development group.

The discussion, titled "Where are the gaps in our regional innovation infrastructure?," took place on CEG's Technology Roadmap Web site, http://www.technologyroadmap.org. CEG said nearly 130 people watched or participated.

Many of the panelists leading the discussion said the Capital Region already has a lot of the necessary infrastructure.

That includes top research universities, active economic development groups and business incubators, and a growing list of tech firms.

But in order to elevate the Capital Region to the heights enjoyed by technology hubs such as Boston, San Francisco, Seattle and Austin, Texas, the area needs more intangible assets, the online panel said.

That means better inner-city living for the "creative class"; more mentors and management training programs; and a business culture that doesn't frown on failure and risk-taking.

"There are many lessons to be learned from the failures, perhaps more than with the successes," Dara Shareef, general managing partner for Glenmont Partners LLC, an Albany venture capital firm, wrote in the online discussion. "The people in California and Boston get that and it has shaped the entrepreneurial culture.

"In other regions - and perhaps upstate New York is one of them, at times - it appears that the willingness to risk one's career in pursuit of the proverbial dream is looked upon with a different set of eyes," he added. "Many entrepreneurs that have tried and failed carry a Scarlet Letter around their necks. That's really a shame."

Panel member Sean Branagan, president of Communigration Inc., a technology marketing firm based in Syracuse, said direct flights between upstate New York and Boston's Logan Airport - so-called "nerd birds" - would help local businesses tap into Boston's venture capital, management services and vendors.

"We ought to get a discount airline like JetBlue, Southwest or others to fly from Logan to upstate cities," Branagan wrote. "This connects us to tech companies in (Boston's) Route 128 corridor."

Branagan said he has asked U.S. Sen. Charles Schumer, D-NY, about getting the airlines to add these flights and was told the senator would be looking into the idea.

A common complaint among some of the talk participants was the need for more vibrant inner-city neighborhoods that can support the creative class that drives technology regions.

These are scientists, Ph.Ds, computer programmers and hard-charging entrepreneurs who want to live and play in cities with lots of interesting shopping, cultural events, dining and recreational opportunities - all within walking distance.

"I believe what we need is to foster a home for the people who are the creative class," wrote Mark Abraham of Help Guest Technologies Inc., a software company based in Delmar.

Larry Rulison can be reached at 454-5504 or by e-mail at lrulison@timesunion.com