SSTI Digest

Since 2011, three states (Kansas, Georgia and North Carolina) have enacted securities exemptions that allow their state's entrepreneurs and small businesses to raise up to $1 million dollars via the sale of securities to residents of the state — Washington lawmakers introduced similar legislation in 2013 session where it is still pending. These exemptions, commonly referred to as crowdfunding exemptions, are intended to increase the pool of investors for small businesses by allowing them to publicly offer securities without having to spend the significant time and cost associated with registering a sale of securities with the state

While public debate rages over the role of surveillance in our society, one particularly infamous government surveillance technology, drones, is being prepared for private sector deployment in the U.S. Drone-related technologies are predicted to revolutionize commerce in the U.S., with industry projections valuing their initial deployment as an $82 billion boost to the national economy. In preparation for Federal Aviation Administration (FAA) rollout of drone-use regulations in 2015, entrepreneurs, multinational corporations and state governments are scrambling to be in a competitive position to benefit.

Amid the economic uncertainty surrounding fiscal cliff negotiations, and what it means for states, some governors are erring on the side of caution when it comes to funding recommendations for the upcoming year. At the same time, several state budget officers are projecting significant revenue shortfalls in the current fiscal year or biennium as a result of lower than expected tax collections.

While election night's main focus was on the presidential race, the importance of ballot measures for states and metros is growing as public services and budgets are being severely trimmed. A recent article in The New Republic reports on a new trend where states are embracing ballot measures as a potential source of dedicated funds for targeted investments in regional economic growth and development.

The Kansas Bioscience Authority (KBA) has launched a collaborative partnership of more than 90 contract research organizations (CROs) to help the region compete in the pharmaceutical and medical device industries. BioResearch Central will help promote the Greater Kansas City region as a destination for pharmaceutical R&D at a time when drug companies are increasingly looking overseas for their contract research needs. The announcement follows the release of a KBA commissioned study that suggests pharmaceutical contract research is a $90-$105 billion industry in the U.S., much larger than previous estimates.

Governors in Kansas and New York unveiled budget proposals for FY13 that would maintain funding for economic development proposals initiated last session. In Kansas, Gov. Sam Brownback proposed funding for a new Creative Industries Commission, while New York Gov. Andrew Cuomo proposed a new round of $200 million in competitive grant funding for the state's regional economic development councils.

A newly established policy academy providing guidance and technical assistance will help seven states improve their environment for innovation and align state R&D investments, workforce development and education systems with current and future needs of advanced manufacturing industries. The policy academy will help each state develop a plan or overcome barriers for putting a plan into action through a highly interactive team-based process that includes input from NGA, MEP, EDA, SSTI, private sector consultants, and research organizations. Participating states include Colorado, Connecticut, Illinois, Kansas, Massachusetts, New York, and Pennsylvania. Ideas and strategies resulting from the academy's work will serve as models for all states. NIST, MEP and EDA are providing funding, leadership and technical assistance to the National Governors Association Center for Best Practices. Learn more...

The University of Kansas' Center for Technology Commercialization is seeking a director that will be responsible for effectively managing faculty-generated intellectual property across all the University of Kansas campuses and deploying it for the greater social good. The KUCTC director's responsibilities include positively representing the University as a member of national professional societies, articulating KUCTC's contributions to the Kansas economy for diverse constituencies that include the Kansas Legislature, industry associations, and the general public, and working effectively within the University's system of shared governance with faculty, the University's administration, the KU Medical Center Research Institute and the Kansas University Center for Research.

E. William (Bill) Colglazier, recently retired executive officer of the National Academy of Sciences and the National Research Council, has been selected the Science and Technology Advisor to Secretary of State Hilary Clinton.

Maine Gov. Paul LePage has nominated George Gervais, the acting commissioner of the Maine Department of Economic and Community Development as commissioner. His nomination must be reviewed by the Joint Standing Committee on Labor, Commerce, Research and Economic Development and confirmed by the Senate.

The budget approved by lawmakers for FY12 includes $15 million in research grant money for three Kansas universities to expand programs in emerging industry sectors as proposed by Gov. Sam Brownback and allocates $10.5 million annually for an initiative to enhance engineering education and increase the number of qualified engineers in the state.

Tom Thornton, president and CEO of the Kansas Bioscience Authority, submitted his letter of resignation to the board effective immediately. David Vranicar, president of the authority's Heartland BioVentures division, was named interim president and CEO.