TBED Programs Changing with the Times

Economic downturns have a way of encouraging states, universities and communities to assess, refine and re-invigorate their strategies to promote growth and prosperity. The current recession is no exception. With the widely recognized roles played by science and technology in economic success, the news of changes and additions to tech-based economic development strategies from across the country is not too surprising. Here are some recent highlights:

Alabama

The Alabama Dept. of Economic & Community Affairs (ADECA), in partnership with BizTech, Huntsville's technology-based business incubator, has launched an e-mentoring program for SBIR applicants. The program, funded in part through the state's FAST award, is a web-based coaching program to help SBIR and STTR applicants increase their competitiveness and create better proposals with help from previous SBIR winners called E-Mentors. Experienced entrepreneurs and SBIR veterans, the E-Mentors provide strategic guidance, advising, and counseling but not consultation-type services like writing proposals or work plans.

Arizona

The Arizona Republic reported the Arizona Department of Commerce has established the Office of Innovation, Technology and Entrepreneurship as part of its most recent reorganization. The paper adds Sandra Watson, named to direct the office, is meeting with the state tech-based economic development community to assess their needs and define the new office's activities.

Arkansas

The University of Arkansas' new Innovation Incubator Program signed its first two companies, according to the Arkansas Democrat-Gazette. Funded through a three-year, $840,000 grant from the National Science Foundation's Partnerships for Innovation program, the incubator program will perform proof-of-concept research for private individuals, state and regional companies interested in expanding or starting a small business. Each start-up receives a $30,000 grant, which includes the cost of a graduate student to work for the company on research evaluation, and a $10,000 credit for the company's use for on-campus research.

California

EC2, the six-year-old non-profit internet/tech business incubator and media research center focusing on digital technology at the University of Southern California, is closing effective June 30, reports the June 6 Los Angeles Times. The $1.5 million operating cost for the facility was born by the Annenberg Center for Communication and declining investment yields for the Center's foundation forced the re-evaluation of the strategy, the article asserts. The Los Angeles Regional Technology Alliance located at the facility will be relocating with EC2's closure.

Michigan

The Michigan Economic Development Corporation announced the 18 projects to share this year's portion of the state's $1 billion, 20-year life sciences commitment. Totaling $45 million, the projects include $14.7 million in additional funding for the Core Technology Alliance (CTA), a consortium of five Michigan universities and research facility laboratories that provide cutting edge technology services to the state's life sciences community. This year's award represents the continuation of an approximately $67 million, five-year commitment from the Michigan Life Sciences Corridor Fund. Other awards target applied research, demonstration and commercialization projects, including funding to organizations that provide seed capital for start-up life science companies.

Mississippi

The Biloxi Sun Herald reports the Mississippi Technology Alliance is launching a quarterly magazine in July to help tell the state's story in science and technology. The magazine, titled Point Innovation, will have an initial circulation of approximately 30,000.

Ohio

Ohio University is one of several key investors in Adena Ventures, a $34 million venture capital enterprise created to provide equity investments and operational assistance to small businesses operating in central Appalachia. The fund, the first created through the SBA's New Markets Venture Capital program, will focus on 29 Appalachian counties of southern and eastern Ohio, the state of West Virginia, the three Appalachian counties of western Maryland, and the quadrant of Kentucky lying to the east of I-75 and north of I-64.

Oklahoma

The Oklahoma Capital Investment Board has approved an investment of $1.5 million into Emergent Technologies Oklahoma, LP to provide seed capital to start-up biomedical companies created as spin-offs from university-generated research. The fund, which will cap out at $5 million, is the 11th supported by the $100 million state authority since its establishment in 1991.

Tennessee

The Technology Leadership Center, a two-year-old pilot partnership between the Tennessee Technology Development Corp and the University of Tennessee, has ended with the graduation of 26 students — at least temporarily, according to the Knoxville News-Sentinel. The entrepreneurship course allowed students to study and experience all aspects of starting a technology business through becoming an actual owner/operator. The article reports students in the class, which met once a week for two years, launched 13 companies, negotiated eight licenses from Oak Ridge National Laboratory for technology commercialization, and secured $470,000 in federal grants and contracts. Despite the success, the article states, the program is not being continued, because the two-year track does not fit the new, abbreviated 18-month MBA program offered by the university.