State and Local Tech-based ED RoundUp

San Pablo, CA, College to Use $2.1M EDA Grant to Build Biotech Incubator

Contra Costa College has secured a $2.1 million federal grant for a biotech startup center, the Contra Costa Times reported earlier this month. A matching requirement set up by the federal Economic Development Administration, the source of the $2.1 million, means the project will receive additional funding from nearby cities. San Pablo gave all of the amount asked of it, and Richmond contributed about half the match money, the Times states. Other cities putting up brief commitments will evaluate their support on a continuing basis. The 14,000-square-foot biotech incubator will allow space for eight tenants, once construction – expected to be done by next summer – is completed.

Camden, AR, Celebrates Groundbreaking for Incubator

The City of Camden, Ark., held a groundbreaking ceremony on Wednesday for its new business incubator, the Ouachita Valley Business and Technology Center, according to the Associated Press. Three years ago, the Environmental Protection Agency awarded Camden a $250,000 grant to clear and decontaminate a brownfield site for the incubator and a light industrial park, the AP reports. Then, in 2002, the city won a $1.5 million grant from the federal Economic Development Administration. Camden, with a population just over 13,000, will finance the incubator with a one-cent sales tax approved by voters in July 2001. The sales tax is expected to raise $6 million over four years to support downtown business revitalization efforts.

Despite Unstable Environment, Continued Steady Growth Projected for Connecticut’s High Tech Sector

A study co-sponsored by Connecticut Innovations, the state’s high-tech investment arm, and PricewaterhouseCoopers indicates that Connecticut's Emerging Technology companies employ 52,000 people — more than a 15 percent increase over last year. Emerging Technology companies, defined as those with fewer than 500 employees whose sustainable competitive advantage is based on technology or technology expertise, number 200 less than a year ago. The decrease in the number of companies correlates with year 2002 revenues, which were $9.5 billion and represent a decrease of 7 percent from revenues for year 2001. However, average per company revenue increased from the $7.5 million average projected for 2001 to $7.9 million projected for 2002. Respondents, in total, are predicting employee growth – 57,000 employees for this sector are forecasted by the end of 2003. Revenues are forecasted to be $12 billion.

Indiana University Launches Emerging Technologies Center

An estimated 300 academics, business professionals, sponsors and civic and government leaders attended a recent ceremony to dedicate the Indiana University Emerging Technologies Center (IUETC). A part of the Central Indiana Life Sciences Initiative launched in February 2002, IUETC functions as a business incubator and accelerator for life sciences, biotechnology and bioinformatics companies. The City of Indianapolis directed $500,000 toward starting the incubator, which will be overseen by IU's Advanced Research and Technology Institute.

MEDC Launches $2M Entrepreneur Fund for Pfizer Layoffs

As part of its $30 million Life Sciences Corridor awards this year, the Michigan Economic Development Corporation has authorized the creation of a $2 million emergency fund to assist recently laid-off Pfizer scientists and professionals in beginning new business ventures. An Associated Press story reports Kalamazoo's Southwest Michigan First, which had 6,500 Pfizer employees in 2002, anticipates having 17 business proposals ready from former Pfizer employees when the fund opens. Additionally, Southwest Michigan First recently announced new biotech businesses formed by Pharmacia researchers not offered jobs when Pfizer bought out the company will have access to a $1.6 billionnational venture capital network called the National City Life Sciences Fund Network. More information on the 2003 Michigan Life Science awards is available at: http://medc.michigan.org/lifescience/

University of North Dakota Gets $2.6M to Expand Center for Innovation

Expansion of the University of North Dakota's Center for Innovation moved one step closer to reality last week with $1.8 million in private donations and an $800,000 state appropriation, according to the Grand Forks Herald. Ray Rude, a retired airplane-part manufacturer of western North Dakota, gave $1.5 million to fund a 19,000-square-foot building to be named after his late wife, Ina Mae. An anonymous member of the center's board donated another $300,000 for a total of $2.6 million, moving the center closer to its $2.9 million goal. The incubator currently hosts 21 tech ventures employing more than 80 people with advanced degrees, or people working on advanced degrees. When completed, the Ina Mae Rude Entrepreneur Center will be able to house 50 additional entrepreneurs, students, mentors and investors.

TEDCO, U.S. Navy Partnership Will Increase Tech Transfer

The Maryland Technology Development Corp. (TEDCO) recently became the first agency to sign a Partnership Intermediary Agreement (PIA) granted by the U.S. Navy with the Indian Head Division - Naval Surface Warfare Center (IHDIV - NSWC). The partnership will enable the two agencies to develop a more effective outreach program to small businesses, state agencies and academic institutions to increase technology transfer and the collaborative use of Indian Head facilities. TEDCO's mission is to foster the development of a technology economy that will create and sustain businesses throughout all regions in Maryland. IHDIV specializes in the research and development of energetic materials for the Department of Defense.