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IN, MD continue funding innovation

May 04, 2017

As the state budgeting process comes to a close, SSTI will report over the coming weeks on actions taken by state legislatures to invest in economic growth through science, technology, innovation and entrepreneurship. This week, we look at the budgets passed and signed by governors in Indiana, which includes new funding for an institute focused on health and life-sciences research and commercialization, and Maryland, which includes funding for the Maryland Technology Development Corporation.

Indiana

Appropriations bills approved by the Indiana legislature and signed by Gov. Eric Holcomb include funding for technology-based economic development initiatives: 

  • The Indiana Biosciences Research Institute, a new public-private partnership focused on health and life-sciences research and commercialization, will receive $20 million in new funding in FY 2018;
  • The Indiana 21st Century Research and Technology Fund, which provides funding to support R&D and technology commercialization, will receive $30 million in both FY 2017 and FY 2018, a 2.0 percent increase from FY 2016 levels.
  • The Indiana Economic Development Corporation will receive $15 million in each year of the biennium to encourage regional development initiatives, advance innovation, and support entrepreneurship education, programs, and practice through strategic partnerships with communities and institutions of higher education.
  • The Office of Small Business and Entrepreneurship will receive $1.5 million in each year of the biennium, of which $1 million is new funding for Launch IN at the Ball State University Entrepreneur College, an initiative focused on increasing the number of successful Indiana based innovation-driven enterprises through mentorship and education.
  • The Indiana Office of Defense Development will receive $628,060 in each year of the biennium (no change). 
  • Purdue University will receive $2.5 million in each year of the biennium (no change) to support operating expenses at the Indiana Next Generation Manufacturing Competitiveness Center, a statewide program focused on technology adoption and transfer, education and workforce development, and long-term R&D related to the state’s manufacturing industry.
  • The University of Southern Indiana will receive $500,000 in new funding in each year of the biennium to support STEM innovation and expansion initiatives.
  • The Department of Education will receive $1 million per year in new funding to help coordinate science, technology, engineering, and math programs across the state.  

Maryland

The General Assembly approved a $43.5 billion state budget with funding levels for initiatives dealing with innovation consistent with those that Gov. Larry Hogan had proposed, which were covered in an earlier SSTI story:

  • Funding for Maryland Technology Development Corporation is $25.8 million, a 3.7 percent reduction from the FY 2017 working appropriation, due to the decline in general funds under the Maryland Stem Cell Research Program.
  • $12 million for the Maryland Biotechnology Investment Tax Credit Reserve Fund.
  • $2 million for the Cybersecurity Investment Tax Credit Program.
  • Appropriations within the Maryland Department of Commerce are:
  • $8.5 million for the E-Nnovation Initiative, a state match to private funds raised in support of endowed chairs at Maryland's higher education institutions. ​​ ;
  • $1.6 million for the Office of Strategic Industries and Entrepreneurship; and
  • $1.5 million for the Office of Cybersecurity and Aerospace.
  • Authorization for four new P-TECH schools across the state (with two already opened in Baltimore). P-TECH schools are public schools that allow students to graduate from a public high school with a high school diploma and an associate degree, as well as the ability to earn pre–apprenticeship certificates and other career certificates in six years or less.
  • $1 million for the Partnership for Workforce Quality.

 

Indiana, Marylandstate budget, state budgets