SSTI Digest

The latest reporting and analysis on breakthroughs in technology-based economic development research and issues that matter most to you. To receive the SSTI Weekly Digest via email, sign up here.

Free Wi-Fi, Inclusive Entrepreneurial Support Initiatives Announced for Baltimore’s Innovation Village

June 23, 2016

Throughout the United States, innovation districts have been proposed with varying degrees of emphasis on inclusivity and opportunity.

Research Institute Struggles Raise Questions About Big Dollar Recruitment Approaches

June 23, 2016

Because a research base that generates new knowledge is a key pillar of a technology-based economy, an important strategy in technology-based economic development is the expansion of research capacity. While states may go about addressing this in a variety of ways (e.g., R&D tax-credits, university-industry partnerships, recruiting eminent scholars), Florida drew national attention when it took a different approach last decade, allocating more than $450 million to attract nine research institutes through its Innovation Incentive Program (IIP).

Canada Releases Innovation Agenda Areas of Action, Website for Public Input

June 23, 2016

When Canadian Prime Minister Justin Trudeau released his administration’s proposed 2016 budget in late March, SSTI covered the significant funds it would allocate for science, research, and technology-based economic development, as well as the country’s plan for a national innovation agenda.

White House, Civic Partnerships Celebrate National Week of Making

June 23, 2016

This week, the White House is celebrating its third National Week of Making – an important part of its Nation of Makers initiative that seeks to expand opportunities for students and adults to engage with the maker movement. In addition to numerous commitments and announcements made at federal agencies, several other projects rooted in strong partnerships were announced.

Slowing Economy? More States See Revenue Expectations Unmet

June 23, 2016

Much of the media coverage on the latest NASBO Fiscal Survey of States, suggests the Great Recession is finally behind the states as aggregate general revenue funds finally surpassed fiscal 2008 levels. But unlike the federal government, there are 50 individual state budgets and they tell very different stories, influenced by the economics, demographics, tax structures and politics of the particular state.

Winner of New Smart Manufacturing Innovation Institute, New MII Competitions Announced

June 23, 2016

President Obama announced  the creation of the new Smart Manufacturing Innovation Institute (Smart MII) – a $140 million public-private partnership to develop smart sensors for use in advanced manufacturing. Headquartered in Los Angeles, CA, the Smart Manufacturing Leadership Coalition (SMLC) – a consortium of nearly 200 partners from academia and industry as well as nonprofit organizations – will lead the Smart MII.

Examining The Relationship Between Guaranteed Job-Leave Policies and Entrepreneurship

June 16, 2016

When employees discover potentially significant inventions during their line of work, they can decide whether to leave their company and form a new startup around the idea, or to transfer the knowledge to the parent firm and attempt to gain financial compensation through a spinoff. As seen in the 2016 summary report from Failure Aversion Change in Europe (FACE) Entrepreneurship, the two main fears for entrepreneurs are financial security and losing a stable, professional job. Recent research also suggests that granting employees extended leaves of absence with guaranteed options for returning increases the likelihood of entrepreneurship. Coupled together, these results prompted SSTI to further review the relationship between corporate-leave policies and entrepreneurship.

Universities, Partners Build World-Class Facilities to Spur Economic Growth

June 16, 2016

In addition to several new moonshot R&D initiatives and other joint research efforts, several universities recently have announced public-private partnerships that will build multi-million dollar, world-class R&D facilities.

Montreal Mayor Announces 77.3M USD Smart City Startup Fund

June 16, 2016

Montreal Mayor Denis Coderre launched Capital Intelligent Mtl – a 100 million CD (77.3 million USD) investment fund aimed at smart city startups and established businesses offering solutions to urban challenges that also will spur job creation in Montreal. The new public-private partnership will backed by 23 founding organizations including venture capital firms, financial institutions and corporations that have pledged over 100 million CD in private capital to establish the fund.

New DOC Report Provides First Government Definition of Digital Matching Economy

June 16, 2016

On June 3, the Department of Commerce’s Economics & Statistics Administration (ESA) released Digital Matching Firms: A New Definition in the 'Sharing Economy' Space.

Ohio Passes Innovation District Law

June 16, 2016

Ohio Gov. John Kasich signed a bill (HB 233) last month that authorizes cities and villages to create Downtown Redevelopment Districts (DRDs) that can address innovation districts and/or historic rehabilitation. The DRDs permit tax abatements of up to 70 percent of increased assessments in conjunction with payments in lieu of taxes (PILOTs) or a redevelopment charge that functions as a special assessment tax. In the case of innovation districts, these charges may be used to fund loans or grants to technology businesses—specifically including R&D and technology transfer activities—or to incubators or accelerators in the district.

TBED Around the World: Governments Infusing Capital Into Startups

June 16, 2016

In an attempt to support their respective  innovation economies, several countries have announced new national investment strategies and other entrepreneurial support efforts that help startups access the capital necessary to move their business from an idea to a sustainable businesses. Efforts include a fintech focused-fund in Ireland, expansion of existing programs in two Oceanian countries, and a partnership between two of Asia’s largest economies.

New Zealand