SSTI Digest

A new Virginia council will coordinate the state’s efforts to help young people create businesses. Gov. Terry McAuliffe recently signed Executive Order 47 establishing the Governor’s Council on Youth Entrepreneurship, following up on a series of roundtables with students and faculty. The council will issue recommendations later this year on how to give students more rights over their research and intellectual property, promote collaborative spaces for entrepreneurs and students to meet, integrate entrepreneurship into university curriculum, identify ways to award students academic credit for starting a business and remove cost barriers to student entrepreneurship. Read the announcement at: https://governor.virginia.gov/newsroom/newsarticle?articleId=12468.

Tennessee leaders hope to raise $10 million in public and private funding over the next five years to support an effort to attract 200 agricultural technology entrepreneurs and establish 100 ag-tech businesses by 2020. USDA Rural Development and the Tennessee Department of Agricultural recently announced they would seed that effort by contributing $220,000 to AgLaunch, a program to aid early-stage ag-tech companies. Memphis Bioworks Foundation will lead the initiatives, providing mentoring and programming opportunities for entrepreneurs. The program will begin in 2016.

A new report from the President’s Council of Advisors on Science and Technology (PCAST) proposes new categories for IT research investment in the coming years. Federally-funded IT research is currently grouped in eight categories introduced in 1995 for the purposes of budgeting and tracking. PCAST is recommending an overhaul of these categories to reflect the contemporary IT landscape. Other recommendations focus on continued investment in cybersecurity, Big Data, health IT and other hot topics. However, PCAST also advocates stronger federal support for education and workforce training with on-ramps for underserved communities.

For many states, broadband connectivity is becoming an increasingly important tool used to improve the economic well-being of residents, especially in rural areas. While some have paved the way for publicly funded municipal broadband providers, others, such as North Carolina and Tennessee, have filed suit with the Federal Communications Commission and joined the telecommunications industry in their opposition. Over the course of the summer, several states announced their own measures to improve broadband adoption as a means to support economic development and improve the quality of life in rural areas.

Recently announced programs in the St. Louis and Minneapolis-St. Paul regions offer startups and major corporations new chances to connect and work together. Pioneered by Illinois’ Corporate Startup Challenge, these types of programs seek to build bridges between important components of the innovation ecosystem: revolutionary new products and services and established market leaders.

Research performed by U.S. businesses grew by 6.7 percent in 2013, reaching $322.5 billion, according to the National Science Foundation’s Business R&D and Innovation Survey (BRDIS). The increase was the largest since the survey began in 2008. As businesses recovered from the economic crisis in 2009-2010, U.S. business R&D fell by 4.1 percent, but then began to recover. Most of the increase in 2013 was due to research funded by the companies themselves, with information technology companies posting the largest growth (22.2 percent). Read the NSF InfoBrief…

New York Gov. Andrew Cuomo announced the next steps of his administration’s Nano Utica initiative, an effort to revitalize the Mohawk Valley regional economy through nanotechnology innovation. Originally announced in October 2013, Nano Utica is a public-private partnership spearheaded by the SUNY College of Nanoscale Science and Engineering (SUNY CNSE) and the SUNY Institute of Technology (SUNYIT), along with more than $1.5 billion in investment from global technology companies.

Connecticut Gov. Dannel Malloy recently announced the launch of a manufacturing apprenticeship program that will provide wage subsidies and tuition reimbursement to participating students. The effort will begin as a two-year, $7.8 million initiative, focused on advanced manufacturing industries, including aerospace, medical devices, composite materials, digital manufacturing and others. Funding will derive from the state’s Manufacturing Innovation Fund. A recent report from The New England Council, Advanced to Advantageous: The Case for New England’s Manufacturing Revolution, notes that the region is in need of new models of apprenticeship to help smaller manufacturers find qualified workers while defraying the time and financial cost of training new hires. Read the announcement…

Over the past few weeks, the State of Oregon has announced a number of new capital opportunities for small businesses. Business Oregon, the state’s economic development agency, will invest $250,000 to support a new Inclusive Startup Fund that will invest in Portland-area startups founded by women and people of color. Fund leaders hope to raise a total of $3 million and match portfolio businesses with mentoring and business advising services. The agency also announced a new $250,000 loan program to help small manufacturers expand. The Oregon Growth Board announced its own $250,000 investment in an angel fund launched by TiE Oregon. The TAP Fund will co-invest with TiE Angels Oregon to support early-stage startups.

The National Institute of Standards and Technology's (NIST) Hollings Manufacturing Extension Partnership (MEP) is conducting three regional forums on the proposed recompetition of MEP Centers in 11 states and Puerto Rico. The regional forums are intended to provide interested entities more information about the MEP program, the federal funding opportunity and answers to any questions regarding the funding announcement prior to its targeted release of January 2016. MEP centers up for recompetition under the 2016 announcement include Alabama, Arkansas, California, Georgia, Louisiana, Massachusetts, Missouri, Montana, Ohio, Pennsylvania, Puerto Rico and Vermont.

Dates and locations of upcoming forums include:

Despite media reports that the most recent economic recovery has been largely driven by job growth in low-paying positions, a new report from the Georgetown Center for Workforce and Education finds that it is actually high-paying jobs that are leading this growth, and nearly all of them are going to individuals with at least a college degree. According to Good Jobs Are Back: College Graduates Are First in Line, during the economic recovery from 2010 to 2014, good jobs – those that pay more than $53,000 annually and are more likely to be full-time and offer benefits – represented 44 percent of all job gains, or 2.9 million jobs. Low-wage jobs paying $32,000 or less accounted for just 27 percent (1.8 million) of the jobs added in the recovery, while middle-wage jobs represented 29 percent (1.9 million jobs). Using a methodology that segments populations of workers by occupations rather than industries, the authors are able to compare individuals with similar sets of skills and who earn similar wages against each other, providing a more accurate picture of the economic recovery.

Finding private-sector champions, building strong mentor networks, and creating organizational flexibility rank among the most critical elements of success, according to leaders of the 2014 Excellence in TBED award recipients. Expert insights on how these and other issues can be addressed are found in the latest SSTI Awards podcast series. The awards program and podcasts reveal best practices in supporting university startups, building meaningful relationships between leaders of industry and local startups, investing in early stage companies, launching an accelerator program that creates successful graduates, and bringing together regional assets to support the growth of an industry cluster. Each of these conversations with award-winning programs provides listeners with practical and proven strategies to improve their own organization's performance and regional impact.

The current podcast series includes: