SSTI Digest

The White House recently released Capturing Domestic Competitive Advantage in Advanced Manufacturing, a blueprint intended to serve as a national framework for the sustainable resurgence in advanced manufacturing in the United States. The report was written by the Advanced Manufacturing Partnership (AMP) steering committee, a national public-private partnership formed by the Obama administration in 2011 to help increase public and private investments in advanced manufacturing and create high-paying manufacturing jobs. The report outlines a set of 16 recommendations around three pillars — enabling innovation, securing the talent pipeline and improving the business climate. For a sustainable resurgence in advanced manufacturing, the report's authors contend that the government and industry must work together with a sustained focus, aligned interests and coordinated actions to adopt the report's proposed recommendations. Recommendations include: The establishment of a national advanced manufacturing strategy that would put in place a systematic process to identify and prioritize critical cross-cutting technologies; A starter list of cross-cutting technologies…

Financial Industry Regulatory Authority (FINRA), the largest independent regulator of securities firms doing business in the United States, invites public comment on the appropriate scope of FINRA rules that should apply to firms engaging in equity crowdfunding activities, either as funding portals or as brokers. Under crowdfunding exemptions of the JOBS Act, intermediaries performing crowdfunding on behalf of entrepenuers and startups must register with the Securities and Exchange Commission (SEC) as a funding portal or broker. They also are mandated to register with an applicable self-regulatory organization (SRO) such as FINRA.The comments should address the specific rules that a funding portal must adopt to become a FINRA registered funding portal. Comment areas of particular interest include possible rules concerning supervision, advertising, anti-money laundering, fraud and manipulation, and just and equitable principles of trade. FINRA also solicits comments on the application of existing FINRA rules for crowdfunding activities of FINRA registered broker-dealers. Comments must be received by August 31, 2012. Read the notice...

While taxes and regulations comprise the basic framework for state competitiveness, ample opportunity exists for other strategic interventions that can create a vibrant, entrepreneurial state economy, according to a pair of reports released this week by the National Governors Association (NGA). The first report examines six factors that drive state competitiveness and the kinds of policies states use to encourage economic growth. A second report lays out 12 recommendations for state leaders, with examples from successful initiatives around the country. The reports are the product of NGA's year-long initiative to shed light on the key elements that drive economic growth and to share best practices for state leaders involved in economic development. The first report, Growing State Economies: A Policy Framework, attempts to distill the essential forces that shape a state's business environment. Taxes and regulations are the most basic of these forces, since they play a large role in attracting startup, small and large businesses to the state, according to NGA. Because every state has its own unique mix of taxes and regulations, these factors help to determine the…

Pennsylvania Gov. Tom Corbett has signed off on a series of bills intended to give state-owned universities more flexibility in working with regional businesses and creating new advanced degree programs. The bills are collectively known as the Higher Education Modernization Act and apply specifically to the Pennsylvania State System of Higher Education (PASSHE), which is the nation's tenth largest state university system, incorporating Pennsylvania's 14 state-owned institutions. Under the new legislation, PASSHE universities would be allowed to create new applied doctoral programs to meet the needs of Pennsylvania businesses. Also, faculty, staff and students would be allowed to enter into agreements with businesses, enabling them to participate in entrepreneurial activities, internships and mentoring programs. Read the announcement...

With veteran unemployment rates exceeding the already-high national unemployment rate, organizations and agencies around the country are seeking ways to plug veterans into the innovation economy. These efforts capitalize on the leadership skills and technical knowledge of military veterans by helping them become entrepreneurs. Operation Boots to Business is a new nationwide initiative, backed by the U.S. Small Business Administration (SBA), that will provide entrepreneurship training courses at military bases to help veterans transition into business ownership. Arizona State University's Venture Catalyst will offer a version of its Rapid Startup School program for veterans as part of a more extensive effort to help veterans become a part of the innovation community. U.S. Small Business AdministrationThe SBA, along with the Department of Veterans Affairs and the Department of Defense, will launch a pilot program to provide veterans with basic entrepreneurial skills and business counseling. Operation Boots to Business will offer entrepreneurship courses at U.S. Marine Corps bases in Quantico, VA, Cherry Point, NC, Camp Pendleton, CA, and Twenty-Night Palms, CA,…

Although the economic ramifications of the recent global recession still remain, countries across the world have remained committed to supporting their innovation economies. Several initiatives across the globe highlight these efforts including the European Union (EU) announcing that it will commit significant funding to three innovation-focused programs and an economic development strategy in British Columbia, Canada, to support the province's technology sector and spur job creation. A recent report also found that a positive link exists between economic development, technology transfer, increased rates of innovation and the strengthening of IPRs in both developed and developing countries. European UnionThe European Commission announced the largest financial commitment to support research and innovation across the EU. Approximately €8.1 billion ($9.94 billion US) will be committed in 2013 to support projects and ideas that will boost Europe's competitiveness and provide solutions to societal issues such as human health, protecting the environment, urbanization and waste management. This commitment will make up approximately 75 percent of EU's…

To continue the momentum surrounding economic gardening, innovation and entrepreneurship efforts that began last year, lawmakers provided level funding and added funds for arts and cultural programs and community-focused workforce initiatives in the FY13 budget. Michigan's higher education institutions will receive a 3 percent increase in funding, which is tied to performance metrics that include R&D expenditures and degree granting in critical skills areas. The FY13 budget signed into law this week by Gov. Rick Snyder provides $100 million for business attraction and economic gardening and $25 million for innovation and entrepreneurship (the same as last year). Both programs are operated by the Michigan Economic Development Corp (MEDC). A new appropriation of $10 million is included for the Talent Fund for Job Training and Skills Development to address joblessness in distressed cities. The governor had proposed $15 million for the initiative in the executive budget, but later revised his request down to $10 million. Arts and cultural programs will receive a $3.6 million increase for a total $6.15 million. MEDC also will receive $25 million for tourism promotion…

A new report from the Ohio Board of Regents proposes a statewide commercialization ecosystem to create jobs, promote economic growth and increase wealth in the state. According to the report, recent research suggesting that, when compared to other states, Ohio lags behind in the commercialization of technology. In The Condition of Higher Education in Ohio: Advancing Ohio's Innovation Economy, there are several recommendations to improve the state's technology transfer pipeline to turn academic research into market-ready products and services including: Expose Students to co-op/internships — to provide students with real life entrepreneurial experiences, and supported in promoting their intellectual property ideas; Expanded tenure review process — to ensure that professors' commercialization activities are recognized in the tenure and promotion processes; Open innovation Intellectual Property (IP) Methods — that increase the frequency and sophistication of interaction between seekers and solvers to include advanced data base techniques, marketplaces and possibly IP auctions; More exposure to entrepreneurial education — through new…

Some of the brightest, most innovative ideas are made in the tech-based economic development field. Every day, practitioners are discovering new ways to support companies and entrepreneurs who are building the next economy. SSTI recognizes these achievements through the award for Most Promising TBED Initiative. Last year's winner, NorTech wowed the judges with their systematic approach to growing industry clusters. Submit your accomplishments by July 17 and become the next winner of this prestigious award. Proposals should address a specific need in a community geared toward improving overall economic conditions. This is a great opportunity to capture national recognition and secure support for your program. More information is available at: http://www.sstiawards.org/.

A new online flexible degree program backed by Gov. Scott Walker and the University of Wisconsin (UW) System aims to significantly raise the number of college graduates by allowing adults with some college experience to work at their own pace, earn credit for what they already know, and pay reduced rates through partnerships with employers. In order to appeal to the nearly 700,000 Wisconsin adults with some postsecondary education credit, the UW Flexible Degree provides a more personalized, self-paced college experience and a shortened time to degree completion. Courses are offered in smaller segments and are based on competency so those who have knowledge in certain areas from past schooling or work experience can move faster. Wisconsin officials say no other state institution offers a program like this, although a few states such as Indiana, Texas and Washington have added Western Governors University (WGU) satellites to their state programs. Similarly, most WGU students have some college credit when they enroll, but they pay a flat fee of $6,000 a year for as many courses as they can complete. With no mention of how the state would contribute financially to the…

Foreign-born inventors and entrepreneurs play a vital role in the U.S. innovation economy, yet these individuals face many obstacles if they wish to remain in the country. Last year, more than three-quarters of all patents at the top ten patent-producing universities had at least one foreign-born inventor, according to report from the Partnership for a New American Economy. The report lays out several policy changes that could help the country retain more foreign-born innovators trained at U.S. universities and is the latest in a series of publications that have emphasized the importance of immigrants in the high-tech economy. The recent U.S. Supreme Court decision on Arizona's SB 1070 immigration act and the White House's decision to help undocumented youths obtain work visas has brought immigration reform back into the national spotlight. With immigration on the agenda, the Partnership for a New American Economy report is a timely exploration of the role foreign-born researchers play in the innovation economy and the difficulties they face in remaining in the country. The group consists of 450 U.S. mayors and business leaders, including New York Mayor Michael…

The Biotechnology Industry Organization (BIO) released a report on the significant economic impact of university and nonprofit institution patent licensing on the U.S. economy between 1996 and 2012. According to The Economic Contribution of University/Nonprofit Inventions in the United States: 1996-2010, the economic impact data related to patent licensing from university and nonprofit institutions indicated: The impact on U.S. gross industry output is as much as $836 billion; The impact on U.S. gross domestic product is as much as $388 billion; University and nonprofit licensing supported as many as 3 million jobs; and, In 2010 alone, academic and nonprofit research institutions spun out approximately 651 new companies. Read the report... BIO President and CEO Jim Greenwood credits the establishment of the technology transfer system by the Bayh-Dole Act of 1980 as a key underpinning of the U.S. innovation economy and catalyst for these impacts in a press release press release. Bayh-Dole enabled the patenting and commercialization of federally-funded university and nonprofit institution research that expanded the economy and improved the nation's health and…