• Applicant Webinar: FY 2016 EDA Regional Innovation Strategies Program

    SSTI is hosting with the EDA an informational webinar regarding the 2016 Regional Innovation Strategies (RIS) program on Wednesday, May 18 @ 3:00 P.M. ET. Join us to learn about the $15M funding opportunity!
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    Learn about new federal partners and programs to translate research into companies and products with an SSTI webinar on Wednesday, May 18 @ 3:00 P.M. ET
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    Last summer, SSTI and JumpStart Inc. conducted a survey of tech-based economic development (TBED) organizations on how groups use and invest in information technology tools.
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Wells Fargo’s Five-Year CSR Effort to Make Investment in Inclusive Innovation

May 04, 2016

Wells Fargo & Company released a five-year, company-wide corporate social responsibility (CSR) strategy that includes significant commitments to inclusion, innovation, small business lending, and community investment.

SBA Commits Nearly $4M to 3rd Annual Growth Accelerator Challenge

May 04, 2016

The Small Business Administration (SBA) announced the 2016 Growth Accelerator Fund competition.

Tech Industries Make Major Investments in University-Industry Partnerships

April 28, 2016

As the 2015-2016 academic year comes to a close, universities and their industry partners have announced several new university-industry partnerships to leverage university research capabilities to address industry needs. Fortune 500 companies including IBM, Rolls-Royce, and several pharma companies have agreed to commit millions of dollars to support these partnerships targeted at increasing the pace of scientific discovery as well as training the next generation of STEM professionals.

VCs Throwing Caution to the Wind? VCs Invest $12.1B in Q1 of 2016

April 28, 2016

Coming off a record setting year, industry analysts contended that there would be a more cautious U.S. venture capital industry (VC) in 2016 with discussion of a VC bubble. However, in Q1 of 2016, venture capitalists invested more than $10 billion for the ninth consecutive quarter with little concern over a bubble. In total, VCs invested $12.1 billion in 969 deals in the Q1 of 2016, according to the MoneyTree Report from PricewaterhouseCoopers LLP (PwC) and the National Venture Capital Association (NVCA). At the same time, U.S. venture capital firms raised $12.0 billion for 57 funds during Q1 of 2016, making it the strongest quarter for funds raised since Q2 of 2006, according to the Fundraising Report by Thomson Reuters and NVCA. A review of the data indicates continuation of trends in where venture capital is being invested, the decline of investment in seed stage companies, and increasing corporate venture capital activity with 20.6 percent of funds invested in Q1 of 2016 coming from corporate venture capital.

VA Gov Set to Sign Package of ED Bills Including New Research Fund

April 28, 2016

On April 20, the Virginia General Assembly sent three economic development-focused bills (HB 1343, HB 846, and HB 834) to Gov. Terry McAuliffe. The bills include the creation of a new research fund and the creation of a network of regional economic development councils. Although the bills have yet to be signed, Gov. McAuliffe has publicly supported each of them. This package of economic development initiatives was originally proposed in the governor’s economic development strategy as well as his recent budget proposal. However, it took some compromise between the governor’s original proposals and the General Assembly to reach a final package.

Senate’s Energy Bill Increases Support for Research, Tech Transfer

April 28, 2016

In its first passage of a broad energy bill since the Energy Independence and Security Act of 2007, the U.S. Senate included provisions in the Energy Policy Modernization Act of 2016 (S.2012) that would: increase the authorization level for the Department of Energy’s (DOE) Office of Science by 5 percent per year to $7.1 billion; increase the Advanced Research Projects Agency-Energy (ARPA-E) program’s authorization level to $375 million in 2020, up from $291 million this year; help remove barriers for technology transfer at the federal laboratories; and, authorize the DOE to establish “microlabs” in close proximity to federal labs in support of regional innovation. The bipartisan legislation was approved by a vote of 85 to 12.

Sorting Through the Newest Energy Jobs Numbers

April 28, 2016

Last month, the Department of Energy (DOE) released its first United States Energy and Employment Report (USEER) in an effort to articulate in clearer terms the sector’s wide-ranging impact on the national economy. While this report covers the entirety of the energy spectrum, a related report released just weeks after, Clean Jobs America: A Comprehensive Analysis of Clean Jobs in America, looks only at those jobs related to the clean energy economy. Based on SSTI’s analysis, Clean Jobs America suggests that there are more than 2.5 million clean energy jobs in the United States, or 44 percent of the 5,729,882 energy jobs highlighted in the DOE report.