SSTI Digest

Geography: Ohio

TBED People and Orgs

Rebecca Blank, the acting U.S. secretary of Commerce, is expected to be the next chancellor of the University of Wisconsin at Madison. The Board of Regents is scheduled to vote on the recommendation April 5.

TBED People and Orgs

President Obama nominated Ernest Moniz as the next secretary of Energy, Gina McCarthy as administrator of the Environmental Protection Agency, and Sylvia Mathews Burwell as director of the Office of Management and Budget. The nominations require confirmation by the Senate.

Creating Shared Value through Locally Focused Venture Capital Funds

In the January 2011 edition of the Harvard Business Review, Michael Porter and Mark Kramer called for a redesign of the existing business model and their role within society. Instead of simply embracing corporate responsibility and corporate giving, businesses should work to create shared value within their community by helping to support local clusters and institutions to address societal needs and issues. In the face of great uncertainty for the overall venture capital industry, it seems that some corporations might be heeding their advice. Over the last few years, there has been a rapid rise in the number of corporate-backed venture capital funds with long-term acquisition and absorption as the driving force. However, the lack of early stage capital in regions across the country also may be ushering in an era of public-private partnerships to create industry-led, locally focused venture capital funds.

TBED People and Orgs

Karen Mills, head of the Small Business Administration since 2009, has announced her departure. She will stay on until her successor is confirmed.

More Funding for Higher Ed Sought in FL, OH, PA and TX Tied to Performance

Upbeat revenue forecasts and shared economic principles have Republican governors in four states requesting more funds for higher education tied to performance metrics or workforce outcomes. Recent budget proposals introduced in Florida, Ohio, Pennsylvania and Texas focus on competing for talent and jobs through efforts to encourage STEM learning and teaching and incentivizing outcomes such as graduating more students in high-demand fields, conducting research and more. College affordability is addressed through measures that would freeze tuition or cap increases.

To Spur Regional Economic Growth, Community Colleges Look Beyond National Graduation Goals

In July 2009, President Obama challenged community colleges to graduate an additional five million students by 2020. According to the president's speech, community colleges uniquely are positioned to fuel the future of U.S. competiveness by developing an educated, skilled workforce to address the needs of a 21st century workplace. However, community colleges across the country are going beyond the president's challenge and establishing new initiatives to help support regional innovation ecosystems focused on encouraging entrepreneurship and nurturing tech-based startups.

TBED People & Orgs

SSTI is pleased to welcome Reese Neader to our team as a research associate. Reese is the former policy director for the Roosevelt Institute Campus Network and is a political science graduate from Denison University.

OH, PA, WV Collaboration to Host Pilot Manufacturing Innovation Institute

On Thursday, the Obama administration announced it had selected the TechBelt region, encompassing northeast Ohio, western Pennsylvania and northern West Virginia, to host the pilot institute of the National Network for Manufacturing Innovation (NNMI). The new National Additive Manufacturing Innovation Institute (NAMII) will operate as a partnership of more than 60 companies, research universities, community colleges and nonprofit organizations from the region. As the pilot effort of NNMI, the partnership will receive $30 million in initial federal funding, with another $40 million from regional partners. The institute will be housed at Youngstown Business Incubator in Youngstown, OH.

TBED People & Orgs

Caren Franzini, the CEO of the New Jersey Economic Development Authority, stepped down after leading the agency for 21 years. Michele Brown, Gov. Chris Christie's appointments counsel, will take over as CEO.

Report Proposes New Statewide Commercialization Effort for Ohio

A new report from the Ohio Board of Regents proposes a statewide commercialization ecosystem to create jobs, promote economic growth and increase wealth in the state. According to the report, recent research suggesting that, when compared to other states, Ohio lags behind in the commercialization of technology. In The Condition of Higher Education in Ohio: Advancing Ohio's Innovation Economy, there are several recommendations to improve the state's technology transfer pipeline to turn academic research into market-ready products and services including:

Community College Entrepreneurship Initiative to Go Nationwide

Northeast Ohio's Lorain County Community College (LCCC) plans to bring its unique approach to entrepreneur assistance to other parts of the country with support from the Kauffman Foundation. On Thursday, LCCC announced a $1 million grant from Kauffman would help establish pilot versions of the community college's Innovation Fund in three U.S. communities. The current Innovation Fund provides entrepreneurship education, mentoring and early stage funding for the region's startups. The nationwide effort, dubbed Innovation Fund America, will select its three new communities in the next few months. Read the press release...

TBED People & Orgs

Tom Walker is departing i2E to join TechColumbus as CEO. Walker, a founding member of i2E, has served the private nonprofit for 14 years. Walker replaces Tim Haynes, who has been serving as interim CEO.

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