SSTI Digest

Attracting and retaining talented workers is a critical element in a technology-based economy.  In the U.S., a major source of this talent comes from international students, many of whom stay in the United States to work after graduation – especially in STEM industries. New research from economists at the University of California at Santa Barbara examines why international students may choose to study in the U.S., as well as what compels them to either remain in the country or go elsewhere after earning their degrees. Citing future job opportunities as the main reason, most international students (48 percent) hope to stay in the United States after graduation, while only 12 percent wish to leave, and 40.5 percent are undecided. The undecided group may represent a critical pool of STEM talent that could become part of the workforce, according to the authors. Will They Stay or Will They Go? International STEM Students Are Up for Grabs, a newly released report by Richard Appelbaum and Xueying Han at the University of California at Santa Barbara on behalf of the Kauffman Foundation, explores the characteristics of domestic and international students enrolled in…

A month after a federal court ruled that high-speed Internet service can be defined as a utility, four states have announced commitments to expand high quality, reliable broadband services to rural areas and other underrepresented groups. Two Midwest states, Wisconsin and Minnesota, will provide funding to help support projects that improve access to broadband and spur economic prosperity. California and Virginia are exploring strategies to improve their respective state’s broadband networks. The Minnesota Department of Employment and Economic Development (DEED) announced $35 million in broadband funding to expand broadband infrastructure in Minnesota. Approved during the 2016 legislative session, DEED will award grants through its Border-to-Border Broadband Development Grant Program to pay for up to 50 percent of project development costs in unserved and underserved areas of the state, according to mhta.org. A maximum of $5 million per grant will be available. Under the new funding, $5 million will be targeted for underserved areas of the state and $500,000 for projects that propose to expand the availability and adoption of broadband service to areas…

As part of the Federal and State Technology (FAST) Partnership Program, the U.S. Small Business Administration has awarded up to $200,000 to organizations in 21 states to provide outreach and technical assistance to science and technology-driven small businesses.  With an emphasis on socially and economically disadvantaged firms, the FAST program provides funds to organizations helping businesses better prepare to compete for Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) funding. Candidates for the FAST program were submitted by state governors and evaluated by panels comprised of SBIR program managers, the SBA, the Department of Defense, and the National Science Foundation. Examples of support provided by FAST funding awardees could include areas such as: Assistance with small business research and development; University technology transfer to small businesses; Diffusion of technological innovation that benefits small businesses; Mentoring and professional development for small businesses applying for SBIR grants; and, Commercializing technologies that are developed through SBIR grants.

Kentucky and New Hampshire recently have announced job training initiatives to address the needs of key industries at both the local and state levels. The Kentucky Work Ready Skills Initiative, a $100 million statewide bond program, is intended to meet “the needs of employers and promote sustainable incomes for Kentuckians.” Meanwhile, the launch of New Hampshire’s Manufacturing Sector Partnership, a statewide collaboration for industries to address their workforce needs, was announced. The effort will build a network that includes manufacturing professionals, educators and state economic development officials to develop a cross-collaborative career pathway for future workers. In Kentucky, Gov. Matt Bevin announced the launch of the Kentucky Work Ready Skills Initiative, an attempt to address the state’s shortage of workers with proper skills and credentials. The funding will infuse resources to expand career and technical education facilities and allow those facilities to upgrade equipment to current and future industry standards through local partnerships between private industry and educational institutions.  The…

The National Science Foundation (NSF), in partnership with the American Association of Community Colleges (AACC), announced the winners of the Community College Innovation Challenge – a competition that challenged teams of community college students to propose innovative science, technology, engineering and mathematics (STEM)-based solutions to real-world problems. A team from Forsyth Technical Community College in North Carolina placed first in the challenge with its Energy Efficient Nanotech Solar Greenhouse idea. Minnesota’s Normandale Community College placed second with its proposals to install and implement hydrokinetic turbines in wastewater treatment plants to generate renewable energy. The top-ranked teams were decided after 10 finalists attended a four-day innovation boot camp. Other finalists proposed projects on innovative, research-based solutions to challenges at the nexus of food, energy, and water systems such as autonomous technology lake algae, junk-yard generators, water conservation technologies, and improvements to wind towers. Read the announcement…

At the end of 2015, there were concerns that the Venture Capital (VC) industry had peaked and there would be a quick return to 2013 VC investment levels. While there is still six months for the VC markets to see a more rapid slow down, Q1 and Q2 VC numbers indicate that there has only been a slight slowdown in the VC markets. However, a troubling trend from 2014 continues to dominate the VC industry – the strong VC market is driven by investment in mature, late-stage companies – either full-fledged unicorns or their slightly lower-valued counterparts. While unicorns are attracting eye-popping rounds of funding, smaller, younger startups are struggling to attract VC-backing, according to a recent report from PitchBook. In many cases, unicorns are pushing off IPOs due to the substantial rounds of funding that they receive. In PitchBook’s U.S. Venture Industry Report: 2Q 2016, the authors found that VCs invested $22.3 billion across 1,906 deals in the second quarter of the year. Of that $22.3 billion invested, a record 40 percent of investment ($8.8 billion) went to unicorns – more than double the $4.1 billion (20 percent) during Q2 of 2015. …

Around the world, accelerator programs continue to multiply, prompting the need for continued research on what they are, how they operate, and how they can be evaluated. The Global Accelerator Report 2015, recently released by Gust and Fundacity, highlights the global development of the accelerator industry and includes details on how accelerators are funded and insights into the industry’s future. The report, which examines accelerator programs in five regions, includes several ways to characterize the global industry, including profit structure, monetization sources, corporate partnerships, and exits. A separate analysis, as featured in CB Insights, suggests the importance of follow-on funding as a measure to evaluate accelerator programs. To craft the Global Accelerator Report 2015, authors from Gust and Fundacity surveyed 836 organizations around the world. Of these, the authors found that 387 initiatives qualified as accelerator programs using the definitions established by British economists Paul Miller and Kirsten Bound in 2011, which consider accelerators as having five features: An application process that is open to all, yet highly competitive;…

Skilled technology workers are gravitating toward cities where the cost of living is lower and more jobs are available, according to real estate research firm CBRE's annual Scoring Tech Talent report, a ranking of 50 U.S. and Canadian markets based on their perceived ability to attract and grow tech talent. Large, established tech markets such as the San Francisco Bay Area, Washington, D.C., and Seattle ranked the highest in CBRE's Tech Talent Scorecard index, which uses 13 metrics for each market and weights each by their relative importance to those companies seeking tech talent. Columbus, home of SSTI's 2016 Annual Conference, ranked first among smaller markets analyzed in the report. "Tech talent," as defined by the report, includes workers in the following occupation categories: software developers and programmers; computer support, database and systems; technology and engineering related; and, computer and information system managers. Although 37.3 percent of tech talent workers are in "core high-tech" sectors such as computer software and services and computer product manufacturing, their occupations exist in every industry sector,…

Indiana Gov. Mike Pence announced plans to invest $1 billion over the next 10 years to advance innovation and entrepreneurship in the state, and to ensure the Hoosier State plays a leading role in solving 21st century challenges, while supporting Indiana’s long-term economic growth, job creation and talent attraction. The 10-year proposal centers on and seeks to enhance the collaborative partnerships between government, education and research institutions, as well as communities in the private sector, while focusing on further advancing Indiana’s current economic momentum and innovation activities. The proposal includes: requesting the Indiana Public Retirement System invest $500 million in in early stage and mid-market Indiana companies; $300 million for 21Fund, which directs investments and grants into early stage, mid-market and high-growth companies; $100 million for transferability of the Venture Capital Investment tax credit to increase the accessibility of private sector funding for innovators and startup companies; and, $100 million to further advance innovation and entrepreneurship education, programs and practice through strategic partnerships with higher…

The National Science Foundation (NSF) announced approximately $10 million in new funding through its Partnerships for Innovation (PFI) program. The PFI program offers NSF-funded researchers at institutions of higher education opportunities to connect new knowledge to societal benefit through translational research efforts and/or partnerships that encourage, enhance, and accelerate innovation and entrepreneurship. Via the new announcement, Accelerating Innovation Research- Technology Translation (AIR-TT), NSF intends to make up to 50 awards to institutions of higher education (including community colleges) to move previously NSF-funded research results with promising commercial potential along the path toward commercialization. Eligible proposers are required to submit a letter of intent to NSF by September 8. Read the FFO...

In June, Virginia Gov. Terry McAuliffe announced that Virginia businesses can offer registered apprenticeships to individuals in three cybersecurity occupations – Information Security Analyst; Cyber Security Analyst; and, Incident Response Analyst. The Virginia Apprenticeship Council approved the three new registered apprenticeships as well as the criteria that registered apprentices in cybersecurity must learn and demonstrate through the program for the necessary proficiency in the cybersecurity field. Administered by the Virginia Department of Labor and Industry, the state’s registered apprenticeship program combines on-the-job learning with classroom-related instruction – classroom instruction is often delivered by a local community college or career and technical education center. To incentivize companies to hire cybersecurity apprentices, the state also recently launched the Registered Apprenticeship Related Instruction Incentive Program – a tax incentive program that provides companies up to $1,000 per year per registered apprentice for up to 10 registered apprentices. These new registered apprenticeships are part of Gov. McAuliffe’…

The National Science Foundation (NSF) released its Strategic Framework for Investments in Graduate Education for FY 2016-FY 2020 that addresses NSF’s goals in supporting graduate education and formulates a set of strategic objectives to meet those goals by 2020. The three goals outlined by NSF include: Advance Science and Engineering (S&E) Research; Broaden Participation to Promote Excellence in Research and Build the Next Generation STEM Workforce; and, Build Effective Models of Graduate Education and Workforce Development. To advance these three goals, the document also provides five strategic objectives: Prepare the Discoverers of Tomorrow; Invest in Broad Research and Education Experiences; Support Research on Cultivating Diverse and Effective Science Teams; Convene a National Dialogue on S&E Graduate Education; and, Enhance What NSF Knows About Investments in S&E Graduate Education. Each of the five strategic objectives includes specific action items and initiatives that will receive NSF funding or other forms of support. In addition to emphasizing the importance of graduate STEM education to the nation’s scientific discovery and…