SSTI Digest

To help business incubator managers match start-up businesses with private investors through an Internet-based network, the National Business Incubation Association (NBIA) has partnered with LocalFund, Inc., a network service provider based in Billings, Mont. The program allows incubator managers to establish their own entrepreneur-investor networks where potential investors can learn more about local start-up companies ready for investment. Entrepreneurs submit business plan summaries through a secure website, and potential investors search the site for companies that match their interests. Investors then contact entrepreneurs directly. Under the partnership agreement, NBIA members receive discounted rates on all LocalFund software. By creating a local entrepreneur-investor network, incubator managers provide new businesses with access to capital and give angel investors opportunities to develop their portfolios.

The SSTI Weekly Digest will be taking a brief spring break and will resume publication on Friday, May 3. 

Want to expand broadband in your state or community? Looking to launch a biotech initiative? Getting into commercializing university research? Are tight budgets leading to more rigorous program evaluation? Or do you simply want to help your community understand the importance of technology?  Any of these efforts should get easier with the 17 new titles added to Resources for Building Tech-based Economies, SSTI's publications catalog. A three-page PDF supplement of the new titles is available on the SSTI website as is the entire revised catalog, replete with more than 125 great resources to make your programs more effective and your job more rewarding.  As always, SSTI sponsors and affiliates receive a 10 percent discount on all purchases.  Both the new titles supplement and complete catalog are available at: http://www.ssti.org/Publications/publications.htm

The Ohio Department of Development, which works collaboratively with businesses, communities and the Ohio Legislature to develop financial and technical programs, seeks to fill the position, Grants Administration Manager. The position's duties include managing the outside Grant Administration Team, assessing project results and progress, and performing other duties assigned by the Deputy Director of the Technology Division. Candidates must show the following: a Bachelor of Science in Business or Public  Administration or a related area of study; a minimum of five years  experience in public administration, economic development or a related field; proficient in the use of computers (e.g. Word, PowerPoint, Excel, database spreadsheets); and excellent written & verbal communication skills. Candidates also must be able to travel up to 40 percent of time. Previous supervisory experience is  preferred. More detailed information is available on SSTI's website at: http://www.ssti.org/posting.htm

At almost every turn, the important roles played by universities and colleges in a knowledge-based economy seem to be validated. Industry and political leaders across the country are talking of the need for strong institutions of higher education, particularly public research universities, to improve national, state, and local competitiveness.  Whether it is the generation of new ideas or innovations or the development of a skilled workforce, higher education is a critical component of almost every high tech hot spot (see for example, Annalee Saxenian's analysis of Silicon Valley and Route 128, Regional Advantage, or the Milken Institute's report, America's High Tech Economy: Growth, Development, and Risks for Metropolitan Areas) or the most successful state and local tech-based economic development strategies. 

To give environmental technology entrepreneurs the chance to have their business plans analyzed by experts and win money for it, the National Environmental Technology (NET) Incubator in Wilberforce, Ohio, is hosting the first annual National Business Plan Competition. Prizes including $10,000 for first place, $5,000 for second place and $2,500 for third place will be awarded. The company deemed "Most Likely to be Funded" will have the opportunity to present its plan before a panel of investors at the Energy and Environmental Network's Early Stage Capital Forum in Boston on May 8. In addition, two years of free rent in the NET Incubator will be granted to the finalist with the business plan deemed most likely to succeed, yet not ready for equity funding.

With more than 110 great titles to aid the policy, practice and study of tech-based economic development, the SSTI Publication Catalog, Resources for Building Tech-based Economies officially is online. Placing the catalog on the World Wide Web is the latest effort to reflect the SSTI's commitment to making available quality information on science and technology policy issues and tech-based economic development. From Accessing Capital to Commercializing Technology, 17 categories arranged by the most common objectives of local, state and national entities make it easy for users to locate specific titles. Whether you're new to the field or a seasoned professional, SSTI is confident at least one publication in Resources for Building Tech-based Economies will significantly improve your understanding and application of tech-based economic development policies. Visit the SSTI Publication Catalog online at: 

While visions of sugarplums will be dancing in the heads of most Americans, SSTI's staff will be boxing up its files and moving to new offices on Dec. 20-21.

Due to the move and because SSTI will be closed during the week of December 24-28, the next issue of the SSTI Weekly Digest and the funding supplement will be published January 4, 2002.

That said, we extend a special holiday wish to all readers, friends and supporters. SSTI especially thanks the Economic Development Administration, without whose generous support, the Digest would not be possible.

Wishing you a more peaceful and successful 2002, Dan, Becky, Cathy, Ruth, Sue, Mark S. and Mark K.

State and local strategies to assist start-up business formation often focus on three elements to help nascent firms: securing much-needed funding or capital (either private or public), lowering the overall cost of doing business, or gaining the skill set or access to intellectual resources to succeed. These objectives of tech-based economic development are, perhaps, most important in a recession, particularly a downturn like the current experience which comes after such a sustained period of growth.  Because most successful nonprofit technology business incubators address all three elements, it isn't too surprising to find the newspapers around the country carrying several stories on new incubators opening or existing incubators expanding their operations. The latter phenomenon, with examples in Maryland, Idaho, Missouri, and the Upper Peninsula of Michigan, attests to the economic development benefits that can be achieved through properly executed incubator strategies. 

Bruce Johnson is the new Director of the Ohio Department of Development. Mr. Johnson formerly served in the Ohio Senate. 

In an effort to create a high tech center, officials in Ohio's Butler County anticipate spending more than $100 million during the next five years to increase telecommunications, biomedical innovations, electronic commerce, and other research. Funding for the measure would come from as much as a half-penny sales tax hike, according to a story published August 1 by the Cincinnati Enquirer.  Butler County already has approved $2.7 million for an 86-mile fiber-optic network, the article reports. Another $113 million in matching funds may come from the State of Ohio for related projects, including start-up help for high-tech entrepreneurs and the construction of highways to improve transportation. Technical assistance also is coming from the Milken Institute, a California-based company paid almost $300,000 in 2000 to develop a high-technology plan for the Butler County economy and to assist in its implementation. 

The Air Force Dual Use Science & Technology (AF DUS&T) Program is part of a congressionally mandated, tri-service program to cost-share research projects with industry for the development of a technology that has both military utility and sufficient commercial potential to support a viable industrial base. A main objective of the AF DUS&T Program is to obtain for defense procurements the economies of scale, accelerated product improvements, and increased sustainability inherent in the commercial marketplace.