SSTI Digest

Against the backdrop of BIO’s annual meeting, held this week in Boston, Gov. Deval Patrick unveiled a comprehensive, collaborative Massachusetts Life Science Strategy. The plan includes a 10-year, $1 billion investment package to support biomedical and stem cell research.



Key to the governor’s Life Science Initiative is passage of legislation yet to be introduced that will strengthen the Massachusetts Life Science Center and, according to the governor’s press release, “charge it with the execution of a life science mission focused on science and economic development, strategic investments at critical stages of the development cycle, and collaboration with the private sector to create innovation infrastructure critical to both researchers and companies.” The governor also announced his commitment to making targeted investments in companies that encourage life science economic development in the Commonwealth.



Highlights of the proposal include a $1 billion investment package to provide funds to:

Please plan on joining us in Baltimore on October 18-19. You can learn firsthand how the Maryland Stem Cell Research Fund successfully secured the increase in funding and how the initiatives are progressing, all while enjoying the view of the gorgeous Inner Harbor (see related story in this Digest).



In a few weeks, we'll be asking our members to evaluate ideas for conference sessions. These ratings determine the topics we focus on and the sessions being offered. While all interested parties can submit ideas, only members receive the exclusive opportunity to finalize the conference agenda by voting on session topics. You are invited to participate in the process by becoming a member today by visiting http://www.ssti.org/benefits.htm



"The SSTI National Conference gives me and my team the opportunity to discuss and network with people who understand 'technology and innovation ideas and strategies' that no other group in the country understands", said Tom Persons, president and chief executive officer of the South Carolina Technology Alliance. "It is always a shot of adrenaline, you just want the conference to go on another few days each year, and I consider the annual conference as my annual educational experience." 



You can become involved in the annual conference by submitting session ideas, becoming a conference sponsor or attending the event. Don't let your organization miss out on any opportunities. Contact Noelle Sheets, director of membership services, at 614.901.1690 for more information.

The gradual aging of the American workforce and the domestic migration of young workers may be at fault for slow economic growth in many states that have historically been successful in promoting high-tech business, according to this year’s Index of the Massachusetts Innovation Economy. The 10th anniversary edition of the Massachusetts Technology Collaborative (MTC) publication reports that the state shows several signs of recovery from the technology bust of the early 00s, but cites accelerating population loss among 22- to 34-year-olds as a major challenge for high-tech industries. The group warns that if Massachusetts continues to lose skilled younger workers, the state will be ill-equipped to capitalize on advances in emerging technologies, such as renewable energy, nanotechnology and the life sciences.

 

Over the past decade, the Index has monitored key innovation indicators in Massachusetts and other leading technology states. MTC compares the state’s performance in critical technology areas to its peer states, including Virginia, Minnesota, Connecticut, Pennsylvania, Illinois, New Jersey, North Carolina, California, and New York. Last year, the group reported that although Massachusetts technology industries continued to expand, the state faced increasing competition from these technology leaders (see http://www.ssti.org/Digest/2006/011606.htm#MTC). The Index attributed this growing competition to substantial state investment in research and to “cyclical and secular forces” that were unlikely to disappear in the near future. Key among these forces was the out-migration of skilled, educated workers – a loss that was only mitigated by a strong influx of international workers.

 

This year, however, MTC reports that declining international immigration and accelerating population loss have begun to jeopardize the state’s ability to fill high-tech jobs and respond to potential future expansion in the state’s technology industries. Several other leading states tracked by the Massachusetts Index, such as New Jersey, New York, Pennsylvania and California, show similar evidence of a shrinking high-tech labor pool. If these population trends persist, states such as Massachusetts may find themselves lacking the human capital to sustain high-tech growth.

 

The Index also reports that:

The fifth installment to Walkin' the Tech Talkin' Gov Walk (see the April 17, May 8, June 5 and June 12 issues of the Digest) covers the outcome of the 2006 Massachusetts legislative sessions. Following is a synopsis of bills passed and budget appropriations relevant to tech-based economic development and the priorities outlined in respective gubernatorial addresses at the beginning of 2006.



Massachusetts

The legislature last week enacted Gov. Mitt Romney's economic stimulus bill. During his State-of-the-Commonwealth Address, Gov. Romney asked for legislative support for the bill he proposed a year ago (see the Jan. 23 issue of the Digest). The bill includes $80 million to spur activity in the life sciences and technology sectors, creates a $13 million cultural facilities fund, and invests $23 million in workforce development and training. It also establishes a new office to bring wireless or broadband Internet access to the entire state and provides scholarships for students who pursue math and science careers.



A main focus of the economic stimulus legislation is to support and grow the life sciences industry in the state. The bill creates a new state entity designed to foster R&D and help raise private funding for projects, the Boston Globe reports. Additionally, the bill includes funds for a new nano-biomanufacturing center at the University of Massachusetts at Lowell.



According to the Boston Globe, the economic stimulus legislation is paired with the FY 2007 supplemental budget bill and, combined, the bills draw $120 million from the state's rainy day fund and use another $440 million in leftover surplus funds from the last fiscal year. The supplemental budget bill includes $2.5 million to support research and innovations at the University of Massachusetts biomedical institute for discovery at the Worcester campus.

The Deshpande Center for Technological Innovation at Massachusetts Institute of Technology named Leon Sandler as its new executive director.

Massachusetts Gov. Mitt Romney named Deborah Shufrin as director of the state's Department of Business and Technology. Shufrin replaces Renee Fry, who stepped down to serve as the governor's duputy chief of staff.

Douglas Foy, Secretary for Commonwealth Development for Massachusetts, announced his resignation effective in March.

Harvard University President Lawrence Summers announced his resignation this afternoon. Former Harvard president Derek Bok is to serve as interim president for the university.

The challenge for industry, academic leaders and policymakers in Massachusetts over the next few years is to translate the competitive strengths of the state's economy into new companies and new jobs, the ninth annual Index of the Massachusetts Innovation Economy indicates.

Former Massachusetts State Senator Peter Larkin is the senior vice president and chief operating officer for the Massachusetts Biotechnology Council.

As expected, Massachusetts Gov. Mitt Romney rejected last week Senate Bill 2039, the bill supporting stem cell research. Exercising a power not enjoyed by all governors, Gov. Romney sent the measure back to the legislature with four amendments for consideration, rather than vetoing the measure.

Massachusetts Gov. Mitt Romney promoted Renee Fry to serve as director of the Department of Business and Technology, the state agency tasked with retaining and attracting jobs and steering economic policy throughout the Commonwealth.