SSTI Digest

SSTI conference attendees are invited to enjoy the Ecotrust Natural Capital Center's Rooftop Terrace and take in the stunning Pearl District skyline. The Opening Reception is being hosted by Business Oregon on Sunday, Sept. 15 from 6:00 – 8:00 PM PT. The history of Ecotrust is a story of innovation, adaptation and evolution. Led by Spencer Beebe, the organization's mission has evolved into an ambitious one: to lead an American economic revolution by deploying new business models that build economic, social and environmental wellbeing. Register now and save big on SSTI's 17th Annual Conference being held Sept. 15-17 in Portland, OR - registration fees increase on June 16!

Envisioned as a comprehensive state-level program to support an entrepreneurial ecosystem, the HI Growth Initiative was approved by lawmakers to diversify the state's economy and promote the development of high-growth, entrepreneurial businesses. Backed by Gov. Neil Abercrombie, the initiative has three main objectives focused on helping entrepreneurs commercialize intellectual property, access business mentors, network with global investors, and gain access to follow-on capital. Funds will be managed by the Hawaii Strategic Development Corporation. Lawmakers approved $6 million for the effort in FY14. The governor had requested $20 million over two years (see the Feb. 27, 2013 issue of the Digest). View the bill: http://www.capitol.hawaii.gov/session2013/Bills/HB858_CD1_.PDF

Both venture capital dollars invested and total deals declined in the first quarter of the year, according to the PricewaterhouseCoopers/National Venture Capital Association (NVCA) Moneytree survey. The capital-intensive life science and clean technology sectors were particularly hard hit, along with seed and early stage investments. Within the data, however, a number of bright spots remained for entrepreneurs seeking capital. Seed and early stage investments continue to comprise more than 50 percent of all deals and first-time fundings remain within a healthy range. New reports from the University of New Hampshire's Center for Venture Research (CVR) and the annual Halo Report also suggest that the angel investment market continues to grow at a modest rate.

SSTI is hosting an informational call on May 8 at 3:30 PM ET to provide helpful hints on applying for the 2013 Excellence in TBED awards. Knowledge is power, and this is a great opportunity to gain a competitive edge by learning more about the application process. We also will share tips on writing an outstanding application. The awards recognize exceptional achievements in expanding research capacity, commercializing research, building entrepreneurial capacity, increasing access to capital, and improving competitiveness of existing industries. A promising initiative that has demonstrated innovativeness also will be recognized.  Register now at: http://www.sstiawards.org/.

NASA, USAID, the State Department and Nike have partnered to issue an innovation challenge for inventors to develop new, sustainable materials and methods for manufacturing fabric. The winners will have their technology presented at NASA's 2013 LAUNCH System Challenge Forum in Pasadena, CA. The LAUNCH Forum is directed by a council of entrepreneurs, scientists, government, academia, and business leaders and is used by NASA to promote sustainability initiatives, including projects related to global health, renewable energy, and agriculture. Read the announcement...

Innovation is not a causal, linear process, but a dynamic and ever-changing network of actors connected by activities and linkages, according to a report from the Council of Canadian Academies. Despite this complexity, however, by identifying behaviors that feed firm innovation, regions can make informed decisions about high-tech economic development. In the report, the council identifies quantitative ways to measure the actual and potential impact of innovation investments, along with presenting a new firm-centric model of innovation ecosystems.

Increase your visibility through Sponsorship Opportunities during SSTI's 17th Annual Conference in Portland, OR, Sept. 15-17. Due to numerous requests, we have unveiled highly visible interactive opportunities at the right price point. A few of the exciting options include:

NIST MEP has finalized cooperative agreements to create new MEP Centers in Arizona and Rhode Island. NIST is awarding $1 million to the Arizona Commerce Authority and $750,000 to the University of Rhode Island Research Foundation to serve small- and mid-sized manufacturers in their states. Read the release...

Shortly after the first anniversary of the Jumpstart Our Business Startups Act (JOBS Act — see the March 28, 2012 issue of the Digest) Mary Jo White was sworn in as the 31st Chair of the Securities Exchange Commission (SEC). In the crowdfunding and tech communities, Chairperson White's appointment sparked significant discussion about the future of SEC regulation of equity-based crowdfunding and when the regulations would be released. According to a recent Bloomberg article, Chairperson White intends to prioritize establishing rules mandated by the JOBS Act by pushing for changes that will allow hedge funds to advertise to the general consumers.

Bill Kirkland will head the new Office of Economic Engagement that will begin operations July 1 at the University of South Carolina. The new entity will facilitate business development statewide, and work through USC&'s seven regional campuses.

John Carey, a former state representative, was appointed by Gov. John Kasich as the chancellor of the Ohio Board of Regents.

Nancy Bryan will be welcomed as the new president & CEO of BioFlorida at their 10th Annual Celebration of Biotechnology on May 9.

Nashville Mayor Karl Dean has created a new Office of Innovation to make government services more efficient and transparent, and to help with economic development. The city has hired Kristine LaLonde and Yiaway Yeh as co-chief innovation officers.

To encourage communities to strengthen their industrial ecosystems, the U.S. Department of Commerce has announced it will make awards to up to 25 communities to launch implementation strategies. The solicitation for the awards will be released in May, and awards of up to $200,000 each will be issued by the end of September. The awards are one part of a four–phase plan announced by Deputy Secretary of Commerce Rebecca Blank last week that also includes listening sessions and a proposal to award five to six communities $25 million each.

Details for the cross-agency initiative, the Investing in Manufacturing Communities Partnership (IMCP) that will provide coordinated assistance to manufacturing communities, were outlined by the deputy secretary. The first of four phases will be listening sessions coordinated by federal agencies throughout 2013 to seek input on a 2014 competition. In the partnership's second phase, the grants of up to $200,000 will be awarded to 25 communities to create strategic plans that strengthen their industrial economies.

Maryland often has been at the forefront of innovation with a longstanding reputation for investing in science and technology to capture new opportunities for economic growth. This year's legislative session was no different. Lawmakers backed Gov. Martin O'Malley's proposals to support the state's bioscience sector, expand the R&D tax credit, enhance workforce training, and promote measures to establish the state as a leader in cybersecurity.