SSTI Digest

Investments and policy to support innovation-focused agendas have flourished with the close of the 2014 legislative sessions in several states. Crowdfunding legislation, incentives for attracting talent, higher education affordability, punishing patent trolls, and encouraging greater accountability are some of the areas where lawmakers focused their efforts. States Support Crowdfunding LawsTwo states passed legislation to amend state securities laws in order to allow entrepreneurs to raise capital through crowdfunding platforms. Maine passed LD 1512 last month (see related Digest article) and more recently, a measure (HB 2023) was passed in Washington that enables businesses to raise up to $1 million through crowdfunding websites. The law stipulates that contributions must come from residents and businesses in the state. At least five other states have passed similar laws, and a related bill is making its way through the Alabama legislature. Enhancing Incentives for Job CreationNebraska lawmakers passed LB 1114, a measure that extends for another five years the Business Innovation Act, a program that offers technical assistance and R&D grants to…

Increased scrutiny for public investments has grown in recent years amid tight budget conditions. Returns on innovation-focused efforts often take time, and as a result TBED groups are always looking to improve metrics and reporting to meet greater demand for transparency. In Utah, lawmakers recently passed a bill providing more oversight for the state’s signature innovation-capacity building program following a critical audit last year. At the same time, lawmakers continued to embrace the concept of the agency they established eight years prior, and appropriated level funds to continue USTAR’s efforts in research and commercialization. The legislature also passed a bill dedicating $20 million to the STEM Action Center created last session.   USTAR is slated to receive $22 million in FY15 funding, the same as last year. USTAR accomplishes its economic objective to increase innovation, entrepreneurship and investment through three components. This includes star faculty recruitment, building world-class research facilities, and the business development technology outreach teams that specialize in commercialization. The oversight bill passed by…

The fourth installment of SSTI’s Tech Talkin’ Govs series includes excerpts from speeches delivered in Illinois, Massachusetts and Utah. Read part I, part II and part III.  Illinois Gov. Pat Quinn, State of the State Address, Jan. 29, 2014 "Part of our jobs strategy is investing in industries that are the future of a 21st century economy. ... "... And that's why now, we're going to invest in a new bio-hub for pharmaceutical, medical device, and health IT startups.” Massachusetts Gov. Deval Patrick, State of the Commonwealth Address, Jan. 28, 2014 “And let’s give our public colleges and universities the resources they need to freeze tuition and fees once again. … “… Let’s keep playing to our strengths by supporting the life sciences and advanced manufacturing, by expanding our clean tech initiatives, including in the burgeoning water technology cluster, by encouraging technology clusters of every kind.” Utah Gov. Gary Herbert, State of the State Address, Jan. 29, 2014 "Science, technology, engineering and math are…

Ted McAleer has resigned as executive director of USTAR. Also Gary Herbert has announced the appointment of former Lt. Gov. Greg Bell as chair of the USTAR Governing Authority. Bell, now president and CEO of the Utah Hospital Association, takes the place of outgoing chair Dinesh Patel. Martha Connolly has been named director of bioentrepreneurship, a new program supported by the Maryland Technology Enterprise Institute (Mtech) and the A. James Clark School of Engineering. Matthew Nemerson, president of the Connecticut Technology Council for the past decade announced he has taken a new position as Mayor Toni Harps’ economic development director in New Haven. Iowa Gov. Terry Branstad and Nebraska Gov. Dave Heineman announced  the formation of a two-state, regional economic development organization, Advance Southwest Iowa. Mike Dellinger, who currently works with the Council Bluffs Area Chamber of Commerce, will lead Advance Southwest as its executive director. Dellinger will have an office at the Greater Omaha Chamber.

As the outlook for general revenue funds improves in many states, governors are looking to boost investment in higher education and STEM as a means for growing the economy and enhancing the workforce. Universities' economic return to states can be quite impactful. A recent study commissioned by the Presidents Council, State Universities of Michigan, found the state's 15 public universities have a $23.9 billion economic footprint — collectively supporting more than $12 billion in earnings in 2012. Governors in Alaska, Missouri, Utah, Virginia, and Washington recently unveiled budget recommendations for the upcoming fiscal year or biennium calling for additional funds to support university-based initiatives including research, infrastructure, tuition freezes, and funding to graduate more students in STEM fields. In Alaska, Gov. Sean Parnell proposed a $5 million digital teaching initiative for middle- and high-school students as part of the FY15 budget plan. The three-year demonstration project begins with funding to expand capacity of digital teaching already underway in three school districts during year one. The project will continue by adding two more…

On the heels of their big win last week in Portland, OR, SSTI’s 2013 Excellence in TBED award winners have announced more exciting news surrounding their programs’ impact and new initiatives to support regional growth strategies. This year’s winner for Most Promising TBED Initiative, ASU Entrepreneurship & Innovation Group (EIG), has attracted a new partner to expand on their model for entrepreneurial support by repurposing existing library space. The Massachusetts Life Sciences Center announced nearly $200,000 in grants for STEM education as they continue to improve the competitiveness of the life sciences sector, and in Utah, two impact reports have been released by partners of USTAR detailing progress made to expand research capacity. Gordon McConnell, Assistant Vice President for Innovationand Entrepreneurship at ASU The city of Phoenix soon may partner with the Alexandria Co-working Network, a program of ASU EIG, to turn another library into space for entrepreneurs. Called EUREKA spaces, these areas provide access to experienced mentors from ASU’s network alongside physical and digital access from the libraries. Classes taught…

Georgia Tech has launched a crowdfunding resource for university-based students and faculty. Originally announced in the spring, Georgia Tech joins several other universities that are using crowdfunding to finance commercialization and the development of startups based on university research. The field has become common and relevant enough that an online community has started tracking this growth. Georgia Tech’s new crowdfunding site, Georgia Tech Starter, launched last week will allow science and engineering researchers an alternative source of funding in a time of restricted government grants. Unlike other crowdfunding services, online investors in the research will not receive any tangible rewards, although they may receive a tax deduction. In addition, the university will provide project review, administration and facility upkeep, which makes the fee paid to Georgia Tech significantly higher at 35 percent than other crowdfunding sites. Currently, only members of the Georgia Tech community can utilize Georgia Tech Starter, although this may expand in the future. Georgia Tech is not the first university to embark on an experiment in hosting and utilizing a…

States across the U.S. are directing their attention to science, technology, education and technology (STEM) education, and already have passed a plethora of new initiatives in the current legislative session.  These programs are directed at various levels of education including primary education and higher education, with one program specifically designated for the state’s community colleges. A number of states have created STEM advisory councils under the governors’ offices, following the lead of Iowa and Massachusetts. Such measures suggest that STEM is no fleeting policy issue and that states are beginning to recognize the economic value of making long-term investments in students. Both Connecticut and Massachusetts included funding for STEM initiatives within their most recent budgets. The Massachusetts budget included a line item of $4.75 million for a new STEM Starter Academy that will work with one or more community colleges in the state to train students interested in STEM career fields. Connecticut allocated $1.5 billion to University of Connecticut campuses over the next 10 years to expand STEM facilities and enrollment. See SSTI’s…

Rebecca Blank, the acting U.S. secretary of Commerce, is expected to be the next chancellor of the University of Wisconsin at Madison. The Board of Regents is scheduled to vote on the recommendation April 5. President Obama announced he has chosen Thomas Perez, the head of the U.S. Justice Department's Civil Rights Division, to be the next secretary of Labor. The nomination, announced Monday, will require Senate confirmation. Lars Hasselblad Torres has been named the director of the Vermont Department of Economic, Housing and Community Development's Office of the Creative Economy. David Goodman was appointed director of the Ohio Development Services Agency by Governor John R. Kasich. Previously, Chris Schmenk held the position. Vincent Mikolay has been hired as managing director of business outreach and international trade for the Utah Governor's Office of Economic Development. Tim Priest has been hired as Innovate Washington's chief marketing and development officer. Aram Nerpouni has been named president and chief executive officer of BioEnterprise. Last Sept., Nerpouni was named interim president of BioEnterprise in…

A technically skilled workforce is one the key elements found in thriving, tech-based economies, and nurturing a pipeline of individuals that match employers' high-tech needs has become a priority for several states focused on competitiveness. Lawmakers in Utah recently threw their support behind an ambitious statewide educational attainment goal and dedicated new funds for targeted investments in science, technology, engineering and math (STEM). With the passage of the state budget last week came increased funding for public and higher education with an economic development focus. Lawmakers dedicated $8.5 million in one-time funds and $1.5 million in ongoing funds to establish a STEM Action Center within the Governor's Office of Economic Development. The STEM Center will promote best practices and become a repository of curriculum, programs and activities, according to the governor's office. This includes coordinating grant opportunities, providing resources to assist students and teachers, developing industry-government partnerships, and providing more pathways to STEM-related occupations. Ultimately, the goal is to ensure students are better prepared in…

The fifth installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Connecticut, Illinois, Oklahoma, and Utah. Our first four installments were in the Jan. 9, Jan. 16, Jan. 23 and Jan. 30 issues of the Digest. ConnecticutGov. Dan Malloy, Biennial Budget Address, Feb. 6, 2013“... Even as we find savings, even as we continue to support our towns and cities — we have to work to grow jobs. “To start with, I am proposing the Bioscience Innovation Act. This new program will establish a 200 million dollar fund to strengthen Connecticut's bioscience sector over the next ten years. ... “... Historically, we've ranked among the top states for patents on a per-capita basis. But now, we're in a global economy. The competition has gotten stiffer. My proposal is that we get Connecticut and UConn back in the game, in a big way. We can do it with an injection of more than 1.5 billion dollars over the next ten years into a new program: Next Generation Connecticut. “This funding will drive innovation, enhance job creation and spur economic growth. It will allow us…

On November 6, in addition to the presidential election, eleven state and two territorial gubernatorial contests will be decided. Seven of these races (Delaware, Missouri, North Dakota, Puerto Rico, Utah, Vermont, and West Virginia) include a sitting governor running for re-election, while the remaining six (American Samoa, Indiana, Montana, New Hampshire, North Carolina and Washington) are open races. Of the races involving incumbents, four are a Democratic governors being challenged, while three sitting Republican governors are up for re-election — two of them for a full term after completing the terms of the previous governors who left for other positions. Five of the open races are a contest for a seat being vacated by a Democrat, while only one is currently held by a Republican. SSTI took a look at the TBED platforms of the candidates for governor. Delaware Jack Markell (D)Gov. Jack Markell has pursued a multi-pronged approach to economic development that includes providing small businesses access to credit, creating tax incentives for businesses to hire Delawareans, expanding the research and job training facilities at the…