SSTI Digest

Illinois Governor Rod Blagojevich has appointed Julie Curry as deputy chief of staff for economic development and labor.

Midwest Angel Network Association Launched in Illinois Several Chicago area investors and numerous local organizations have launched MANA, or Midwest Angel Network Association, in an effort to make seed-stage investment a greater reality. MANA will be dedicated to strengthening the existing angel community and providing assistance and education to potential investors looking to join or form an angel fund or network. Although MANA does not provide angel funding directly, entrepreneurs can also look to MANA's website for direction in how to access angel funding and advisors or service providers who want to help start-ups.

Pam McDonough, director of the Department of Commerce and Community Affairs for the past four years, has been appointed to the Illinois Labor Relations Board by outgoing Governor George Ryan. Joseph Hannon will serve as the department's director for the remainder of Ryan's term, which ends in January.

On Thursday, Illinois Governor George Ryan announced nearly $3 million in state grants for eight Illinois Technology Enterprise Corporation (ITEC) centers, quadrupling the number of ITECs. Funded by the Illinois Department of Commerce and Community Affairs (DCCA), the centers assist technology-based start-up businesses and serve as incubators for the new ventures.

The grants announced for the centers will continue to fund operations at Northwestern University in Evanston and the University of Illinois in Champaign and support six new centers in Chicago, Naperville, Lemont, Peoria, Carbondale and Springfield.

The Illinois Biotechnology Industry Organization has appointed David Miller to serve as president, effective September 3.

The Illinois General Assembly has passed legislation to encourage venture capital investment in technology businesses across the state. HB3212 creates the Technology Development Fund, which permits the State Treasurer to use up to 1 percent of the state's total investment portfolio for equity investments through Illinois venture capital firms.

The Chicago Tribune reported last Friday that the total amount of state funds available for venture capital investment will be as much as $60 million.

Eligible Illinois venture capital funds to receive monies from the new Technology Development Fund must use the state funds to place investments in technology businesses seeking to locate, expand, or remain in Illinois.

John S. Maxson has been named as the new president of The Illinois Coalition. Mr. Maxson fills the position vacated by Shaye Mandle earlier this spring.

The Illinois Innovation Initiative has named Jerry Mitchell to serve as commercialization manager. Mr. Mitchell is also president of the Midwest Entrepreneurs Forum.

Shaye Mandle has resigned as president of the Illinois Coalition to accept a position as the new executive director of the East West Corporate Corridor Association in DuPage County.

More than $1.26 billion in royalties were collected by U.S. colleges and universities in FY 2000, according to the tenth annual licensing survey released by the Association of University Technology Managers (AUTM). In addition, the FY 2000 Annual AUTM Licensing Survey reported 347 new products were introduced to market and at least 454 spin-off companies were created by the institutions, where inventors filed for more than 8,500 U.S. patents.  Attesting to the localized economic development impact of strong university research, more than 80 percent of the start-up companies were located in the academic institution's home state or province.  Other survey highlights include: 

Illinois  The March 7 Chicago Tribune reported that the new 840-acre DuPage County Technology Park has hired its first executive director. Jack Tenison, deputy administrator for county government in Dupage, will start the position April 1 and will work to link development of the property with the nearby Fermi National Accelerator Laboratory, Argonne National Lab, the area universities, and the adjacent airport. The Trib says a $34 million state grant will pay for planning and preliminary construction of the park.  Indiana 

This is the final installment in this year's coverage of the Governors' State of the State and Budget Addresses highlighting issues of importance to the tech-based economic development community. Illinois George Ryan, State of the State/Budget Address and Supporting Press Materials, February 20, 2002