SSTI Digest

Two venture capital associations and the Southern Technology Council are offering free electronic newsletters to the general public that may be of interest to SSTI Weekly Digest readers. Occasionally stories offered in these publications overlap with Digest articles, however, each provides additional information and perspectives for the S&T community.

The Community Development Venture Capital Alliance (CDVCA) distributed the first issue of its periodic e-mail newsletter this week, which includes updates on the organization and a discussion of the status of the Clinton Administration’ New Markets initiative and the Republican’s Renewal Communities proposal.

The National Governors' Association has released its third paper in the New Economy Series. Nurturing Entrepreneurial Growth in the New Economy, written by Thom Rubel and Scott Palladino, outlines eleven different approaches states have implemented to encourage entrepreneurship:

Mark Your Calendars! Book your Flights! Make your Reservations! Pack Your Bags!

Planning is underway for SSTI's fourth and largest annual gathering of S&T policymakers and practitioners. The event will be held October 3-4, 2000 in Chicago, Illinois. As in the past, two limited-seating in-depth workshops will precede the conference on Monday, October 2.

Jack MacLennan, Manager of the Office of Business Technology and Competitiveness within the Illinois Department of Commerce & Community Affairs, has announced he will be leaving state government at the end of February.

As part of his FY 2001 budget request, Illinois Governor George Ryan announced a five-year, $1.9 billion package of technology-related initiatives intended to put Illinois in a leadership position among states in science and technology. Illinois VentureTech includes several education and computer technology acquisition programs and the following S&T and research-related initiatives:

Shaye Mandle is the new President of the Illinois Coalition.

The Coleman Foundation has allocated up to $1,000,000 for this year's Entrepreneurship Awareness and Education Grant program. The program will award a one-time grant of up to $25,000 to any university, college, community college or community-based nonprofit organization to establish or significantly expand an entrepreneurship initiative that focuses on any of the following areas:

Tom Thornton is resigning his position as President of the Illinois Coalition to join a Midwest Venture Capital firm.

Cary Nourie has been named Vice President of Policy and Planning for the Illinois Coalition; he previously was with the North Carolina Governor's Washington Office.

John Dougherty resigned his position with the Illinois Coalition to accept a job in the private sector.

In his first budget address, Illinois Governor George Ryan outlined a series of initiatives which would catapult Illinois into the top tier of states for technology-based economic development spending. Coupled with the $3-million-plus technology initiative announced earlier this year by Chicago Mayor Richard Daley, Illinois S&T investments could grow to $20 million annually, a threshold only six other states have crossed and maintained: Georgia, New York, North Carolina, Ohio, Pennsylvania, and Texas.

On Monday, Chicago Mayor Richard Daley announced a series of initiatives to promote technology development for the city, including an information technology incubator, formation of a Mayor’s Council of Technology Advisors, and a Civic Network to support capacity needs for Internet commerce by Chicago businesses.

The cornerstone of the Mayor’s technology initiatives, however, is the formation of the Chicago Technology Growth Fund, a $3 million venture capital fund to provide seed-stage financing in conjunction with private investors for high-tech startup firms located within Chicago. The Illinois Coalition was named to manage the fund for the city.