valley. i know there are some that have pushed for that in the past. the other thing i will add about funding and investing, the different initiatives that governments have, grants and are given to -- that are given to foster and push innovation is something that is done very well in the university setting. i think further investing in companies that take the research at the commercialization phase is something that we have benefited from and would love for that to continue. >> the last question for the panel is to you, lisa. say, this is a room of potential funders. what is your elevator pitch? [laughter] >> absolutely, great. we are addressing two issues. on the one hand, there is an

ever-increasing amount of waste that is generated. as the drift toward 9 billion people in 2014, we are generating waste in landfills, manufacturing waste, agricultural residue, etc. is there a wayon the other handa court feedstock with almost everything we use, whether it is plastics, detergents, obviously fuel. how can we address a sustainable source of oil? we have bridged the gap. we have developed an innovative technology. a two-step process that taste -- takes a variety of ways to carbon resources and converts them into oil through a biological process. we do it at a lower cost and sustainably, and it has a benefit for not only industry but the planet. >> i will go get my checkbook. a round of applause for our panel. [applause]

according to carl, we have five more minutes. so you get to clap again in five more minutes. [laughter] you have all talked a little bit about the culture here. how important is it that the environment here succeeds in continuing to draw people and draw talent and investment? the example we heard in your introduction was you went to school add mit. you came here to start your business. there is another guy on facebook who has said if he had it all to do over again, he would have stayed in boston. how important is that culture and environment? >> it is critical. it is critical to have minds that have been educated, interdisciplinary people coming

to the table, different perspectives, that energy and enthusiasm around thinking differently, and around paradigm shifts, around developing breakthrough technologies, and to be able to attract those people to this area is crucial. i think that that is something that has been a benefit of being here, that a lot of people are attracted to silicon valley. that is crucial to any company starting in taking their technology to the next level. >> can you talk about the incubator? >> yes. >> the qb3? >> yes, mission bay, everybody knows. uc san francisco has conduct encourage it with research. some of the larger companies that research labs in mission bay as well. bayer and others. they are even innovating about their laboratories, because it is so expensive to build your own laboratory. so they are trying to bring some of these pharmaceutical answers to the market faster.

they have an incredible spirit of innovation in those laboratories. and they are inviting other companies, not just from the bay area air even our country, they're inviting international. we had our first canadian incubator that was established just a couple months ago. they are excited to be kind of cross-referencing their research and ideas. >> why are they coming here? >> they are coming here because there is really ongoing levels of conversation and sharing of experiences that are part of, kind of, thinking outside of the box and thinking in different ways, turning things upside down, hacking your way through some of these ideas and not being afraid. and trying to find applicability for them. that is the spirit of the valley, the spirit of san francisco. we have always been edgy when it comes to openness.

we're taking advantage of that. we want to embrace different cultures to impact that as well. what people see here might be different from how they see it in india and some of the other countries that are emerging here, trying to apply it in ways which would have a great benefit, or just thinking very differently about it. i think the spirit of innovation is an attractive thing for talent. obviously, education is behind it as well. there's a lot of confidence about being able to risk in being a little more risk-taking. that is part of, kind of, my leadership. i did not apply to be the mayor of san francisco. i took that risk with a very good knowledge that -- sure, i may not be a supreme politician, but i wanted to build a different relationships with people. we have done that. we have invited a lot more different kinds of talent to come in and use that free spirit in innovating. >> michael, last word.

>> yes, knowledge gets created with the people who think about the problems. and what must be sustained here is that focus on getting feet into the problem. with understanding the problems comes the ideas. this is an idea-generating place. like no other. i spent three years living in beijing, and i watched what they are trying to do over there. fundamentally different. here, it is inherently and opened, bottom-up idea meritocracy. it is a good way for this place to be. >> i want to follow up on that. because there are so many other places in the world that want to replicate what we have here. is that possible? >> what is the appropriate answer? anything is possible. i think there is a bunch of

things that come together here. education is a big part of it. as much as we have talked about the challenges we have in educating our youth, it is still the case that education here is as much about the journey as about the end result. my personal belief is that as long as we keep that focus on the inquiry as opposed to the yes/no result, we will do fine. when you look at other parts in the world, my view is you can gauge how innovative a populace you're going to generate by the way they educate their people. >> you know, i would say that he has a great point there. i think it in fights collaborative approaches to problem-solving as well -- it

invites a calendar to the approaches to problem-solving. we are having a great conversation in san francisco about this shared economy, a collaborative thing. it began to me by car-sharing. i was a big fan of car-sharing and the electric vehicles to see if we could get less emissions. now we're looking at companies, including smaller innovative companies, looking at shared space and how to complement our environmental goals here with new economies that are merging out. i think that is challenging the way our tax structure has been and the way we look at certain industries, but inviting a collaborative spirit of new ideas that would create literally new jobs and new economies. it is exciting. when you allow collaborative approaches to be focused on. >> i promised the last word on the panel. >> great. the one thing i will add to that

is that, speaking to michael's point earlier, one thing you have here, a lot of people who have done it, that started companies. they succeeded, failed, succeeded. they had invested. they have done all of the things that we at start-ups are trying to do and are navigating through. having both those that are being educated coming up with the bright ideas and the desire to start something new in those who have done it, it creates a great a the system. >> now a round of applause for our panel. [applause] >> panelists, what an outstanding discussion on regional innovation. james, as always, it is a delight to partner with you. lisa said one thing we have here is a lot of people who have done it. michael said ibm's first product was a cheese slicer. we do not make those anymore.

we keep in a bidding. and mayor lee, start-ups at long-term views. they're not looking for instant gratification. the key is long-term innovation with networking. it makes this region unique, doesn't it? i hope you enjoyed this panel as much as i did. i want to shine the spotlight just another moment on lisa dyson. you heard a little bit about her background. i hope you will bing or google her, whatever your preferences, and learn more about our company. the silicon valley leadership group did a soft launch in january of something we call start-up silicon valley. it is for innovation economy, ceo's in this region to join at the leadership group basically for free. because we want to capture in the them to the dna that david packard, our founder had, which was a balance of running,

brilliance, dynamic companies while, at the same time, being deeply engaged in your communities and in the quality of life of your employees. that is the scale that we want to raise up in these incredibly innovative young entrepreneurs. we have about 20 of them here in the audience today. i want to just mention three of them and embarrass them. they do not know i am going to do this. all of these at this in common. they have less than 40 employees currently. their business has been around for less than four years. and, like me, they are younger than 40 years old. [laughter] why are you laughing? [laughter] let me introduce the ceo of snoozie. stand. [applause] the ceo of good joe.

[applause] and the ceo of sylvantex. [applause] a lot of these start-ups doing incredible innovation. some will succeed. others will not. these people, however, will succeed no matter what they do. and that is why we're so excited about this new initiative. we want you to mentor and get to know and meet them. with that, we're going to go ahead and thank this panel a final time with -- again, we do not whine in silicon valley, but we do enjoy fine wine -- w-i-n- e. we have a wonderful pinot noir for each of our three panelists. >> thank you. [applause]

>> city officials joined richmond residents for a groundbreaking ceremony.

it was an exciting event for the neighbors ready for long overdue improvements. >> there is a need in this great city. they saw fit, they take care of it. >> the project is expected to open in spring 2013. for more on the

on may 12, sf posted a benefit for project insight. canadians supported the recreation programs are too sick children. >> learn more