SSTI Digest

In 2011, the nation's city finance officers report that the fiscal condition of cities has continued to weaken and placed pressure on cities to cut spending on personnel, infrastructure investments and key services, according to a new research brief, City Fiscal Conditions Survey: 2011, from the National League of Cities (NLC). The results were taken from a survey of over 270 city finance officers from across the United States. The authors contend that sagging local and regional economies, characterized by struggling housing markets, slow consumer spending and high levels of unemployment, are driving the decline in city revenues necessitating the budget cuts. Several key findings from the 2011 survey include: Finance officers project declining revenues, with corresponding spending cutbacks in response to the economic downturn; The pace of decline in property tax revenues quickened in 2011, reflecting the inevitable and lagged impact of real estate market declines in recent years; Ending balances, or "reserves," while still at high levels, decreased for the third year in a row as cities used these balances to weather the effects of the downturn; The most…

The New England Clean Energy Foundation (NECEF), in partnership with the Connecticut Clean Energy Finance & Investment Authority, announced a new initiative to spur innovation and research in clean technology across New England. According to the Boston Business Journal, The New England i6 Green Program leverages a $1.25 million i6 Challenge award from the U.S. Department of Commerce's Economic Development Administration and an additional $1.65 million raised by over 40 partner organizations (e.g., state agencies and nonprofit organizations) to fund a consortium aimed at addressing the region's gaps in the current clean energy innovation ecosystem through a combination of capacity- and network-building. NECEF's i6 program initially will be tasked with two responsibilities: The creation of an online tool to facilitate the exchange of ideas among the region's clean tech stakeholders; and, The establishment of a network to provide funding and services to assist in the commercialization of promising clean tech innovations. Read more about the New England i6 green program at NECEF's website...

Illinois Governor Pat Quinn recently released details about Advantage Illinois, an initiative that will provide financing and assistance to entrepreneurs and small businesses. Initial funding for the initiative will be provided by the federal government through the U.S. Treasury's State Small Business Credit Initiative (SSBCI). The Illinois Department of Commerce and Economic Opportunity will administer the program, will use the $78 million in federal funding to spur private lending to small- and medium-sized businesses. Advantage Illinois will incorporate four individual programs, including: Capital Access Program — to encourage financial institutions to make loans to startups and small business that do not meet conventional lending requirements; Participation Loan Program — to support projects to create or retain Illinois jobs or to modernize businesses, especially minority-, women-, disabled- or veteran-owned businesses, by mitigating lender risk; Collateral Support Program — to establish savings accounts or CDs to enhance the collateral levels of small businesses; and, Invest Illinois Venture Fund Program — to provide venture capital…

The North Carolina Innovation Fund has announced plans to support a new accelerator that would promote life science technology transfer from the state's universities. Published reports indicate that the accelerator would launch later this month and focus on companies developing biopharmaceutical therapeutics, diagnostics and medical devices. Participating startups could receive capital investment from the accelerator's associated funds. Learn more... Innovation Works president and CEO Richard Lunak and entrepreneur and writer Sean Ammirati will explore the rapid rise of business accelerators at SSTI's 15th Annual Conference. Join us in Columbus on Nov. 8-9, 2011 to learn more about the accelerator model and hear some lessons learned from Pittsburgh's successful AlphaLab accelerator. Register today!

A recent paper from the Kauffman Foundation on women entrepreneurs finds that while women are making significant strides in advancing to high rank within corporations, several barriers are keeping them from breaking out to start their own high-growth firms. Pointing to the untapped potential of women's contributions to the economy, the author correlates support for women's entrepreneurship with significant economic expansion and job creation. The types of high-growth firms described in the paper ideally would become prominent niche firms, creating jobs prolifically and serving global or national markets. Deterring this type of economic growth, however, is an entrepreneurship gender gap. The author finds stark differences in women's entrepreneurial participation compared to men, especially given their current and projected participation in the workforce. The gap widens even further when looking at growth measures in number of women-owned firms and by revenue. For example, census bureau data indicate that women-owned firms with paid employees grew only 7.6 percent from 1997-2007. In terms of revenue, an American Express OPEN report found women own 1.8…

No longer limited to a niche group of practitioners, promoting growth through innovation and technology has achieved widespread acceptance as the key to our economic prosperity. You'll find it in blog posts and opinion pages from across the political spectrum, and in virtually every corporate or civic dialogue today on revitalizing America's economy. A wave of new leaders at the federal and state level over the past couple of years has ushered in new ideas for sustaining economic growth that for many states is changing how science and technology-focused programs are structured and funded. Meanwhile, at the same time policymakers and practitioners are embracing the importance of supporting innovation-based companies, the already limited resources for these programs are becoming more scarce. Put simply, all of economic development is at a crossroads. As the year's best event for connecting leaders in the tech-based economic development field to share best practices and lessons learned, SSTI's 15th Annual Conference will make sense of it all. You'll walk away with practical tips and new ideas to apply, including those that can have an impact even with a limited budget.…

SSTI's Annual Conference is the only economic development conference this fall with the senior leaders of the Economic Development Administration (EDA), National Institute of Standards and Technology (NIST) and the U.S. Small Business Administration (SBA) speaking. John Fernandez of the U.S. Department of Commerce, Sean Greene of SBA and Phillip Singerman of NIST will kick off an important dialogue among all conference attendees on how we communicate the value of investments in innovation, encourage collaboration, and adapt to changing economic and fiscal conditions. Prepare for a highly interactive session in a moderated, thought-provoking dialogue on how economic development programs at all levels are (or should be) changing as a result of today's realities. Learn more...

This year's conference will kick off with an Opening Reception hosted by TechColumbus at COSI. Attendees can experience science, technology and innovation at work through more than 300 interactive exhibitions and more than 100,000 square feet of exhibit space while reconnecting with colleagues and networking with conference attendees, speakers and our local host over drinks and hors d'oeuvres. The reception will begin Monday, Nov. 7 at 6:30 PM. After an intense opening day of keynotes, educational sessions, exhibits and more, conference-goers will have an opportunity to relax and have some fun as networking takes center stage at SSTI's annual National Innovation Reception. The early evening affair provides the opportunity to continue conversations begun earlier in the day, visit our exhibiting sponsors and begin new relationship.

Beyond the numerous breakout sessions and insightful plenary sessions, SSTI's 15th Annual Conference offers attendeesseveral activities that other conferences typically don't offer including networking with other practitioners at some of the city's finest restaurants (Dine A-Rounds), maintaining your normal exercise regimen (a morning 5k run/walk) and sharpening your mind (morning Hatha Yoga). Dine A-Round Columbus On Tuesday November 8, take a break from the typical conference experience and network over dinner with old and new friends by attending one of six Dine A-Rounds. Our local host has lined up some of the best places to eat in Columbus offering conference goers a variety of culinary options at various price points. Reservations for parties of eight will be for 7:00 PM on Tuesday, Nov. 8. Each attendee is responsible for his/her own bill and gratuity. The six restaurant options will be posted shortly at ssticonference.org. Advance registration also will be made available on the conference website. Morning 5K Run/Walk Back by popular demand! Join fellow fitness-minded conference attendees for a sunrise walk or run on Tuesday, Nov. 8…

This year's SSTI Annual Conference will provide attendees with many opportunities to explore the issues that drive technology-based economic development. When planning your conference experience, make sure to check out our breakout sessions, which will allow participants to focus on the topics that interest them. Featured topics at this year's conference include: Capital Access — In Strategies to Catalyze Private Follow-on Investment, experienced investors with a history of working with TBED organizations will lead a discussion about building stronger relationships with angel groups and venture capital firms. Seasoned nonprofit fund managers Peter Longo and Tom Walker will present some lessons learned on how to generate healthier returns in the Creating Evergreen Funds for Equity/Preseed Investment session. Research Commercialization — Accelerating the Commercialization of Research will offer insights from state and regional organizations that have successfully worked with research institutions and universities to create new, local companies. In Infusing Technologies into Companies, representatives from the NIST Manufacuting Extension Partnership…

As an SSTI conference sponsor, you have the chance to showcase your organization with the decision makers responsible for crafting and implementing local and state-level policies and programs that directly contribute to the nation's competitiveness. Today's marketplace is about belonging and staying connected. No other event brings together so many of the nation's top players in the TBED community. SSTI believes conference sponsors deserve to stand out to attendees, so exhibits are placed prominently in a highly visible location. Only a select group of sponsors and host partners are provided with the opportunity to exhibit to avoid that trade show feel. The conference draws on average more than 300 representatives from 39 states and 190 organizations. As a conference sponsor you gain: Access. You have the opportunity to interact and engage with attendees during the conference. SSTI's conference provides in-person networking that can't be beat. Exposure. You become part of the TBED community's most powerful network. Please contact Noelle Sheets to become an Exhibiting Sponsor or request a complete listing of the current…

Now in its fifth year, SSTI's Excellence in TBED awards program has recognized 20 of the most effective, innovative and transferable initiatives for growing tech-based economies from across the country. This year, six new programs will be crowned winners of this prestigious award, held as models of best practice worthy of emulation. Join your friends and colleagues for a special ceremony celebrating this outstanding achievement following our keynote speaker on Nov. 8. Our first ever recipient of the "Most Promising TBED Initiative" also will be announced. Gain information and advice most fitting for your needs directly from the award winners during a dedicated breakout session later in the conference. Learn more... Excellence in TBED Award Winners 2007-2010 Expanding the Research CapacityMaine Technology Asset Fund (2010)James & Esther King Biomedical Research Program (2009)Georgia Research Alliance Eminent Scholars® Program (2007) Commercializing ResearchWashington Technology Center Research & Development Program (2009)Maryland Technology Transfer Fund (2008)Georgia Research…