SSTI Digest

The National Science Foundation (NSF) has announced a $27.5 million, five-year grant to the University of Maryland for a multi-disciplinary research center focused on the interplay of human activity and healthy ecosystems. The grant is the largest ever received by the university and will provide funds for research in environmental sciences, public policy, engineering, computer science and economics. Additional funding will be provides by the University of Maryland, College Park, the university's Center for Environmental Science, Resources for the Future (a nonprofit research organization) and the state of Maryland. Read the announcement...

Women are still vastly underrepresented in science, technology, engineering and mathematics (STEM) jobs and have been for the past decade, even as their share of the college-educated workforce has increased, finds a new report from the Commerce Department's Economic and Statistics Administration. Women occupy only 24 percent of STEM jobs today, compared to 48 percent of all jobs, and although the gender wage gap is smaller (14 percent in STEM fields compared to 21 percent in non-STEM occupations), a clear gender disparity exists nonetheless. While the report does not explain the gender differences in STEM, it does urge greater support of women in STEM fields to help build a skilled workforce to support the nation's competitiveness. This is the second in a series of reports on STEM. Read the report...

The Kiva City program will extend small business access to microloans in U.S. cities facing the greatest small business stress. Kiva, a nonprofit organization, offers personal microlending services. Building upon Kiva's Internet-based lending model, the goal of the Kiva City program is to spur job growth and economic recovery through microfinance by building connections between Kiva's global network of 592,000 individual lenders and small business owners across the country. Kiva also intends to reach out to credit unions or other financial institutions partners at a local level to facilitate the loans and community groups and civic leaders to build awareness among small business owners and refer them to the program. Kiva.org, in partnership with Visa Inc., will administer the program. Read the press release...

Spending time at a technology or business incubator may be the key to learning about entrepreneurship. Some universities, seeking to ramp up entrepreneurship programs, are turning to incubators as real-world teachers. A recent Washington Post article points to several business schools pairing traditional education, such as courses and lectures, with less-conventional approaches, including incubators and business competitions to prepare students for opportunities outside the classroom. Recent announcements of new and emerging technology incubators from across the U.S. and Canada are included below.

The 10 regional councils established earlier this year to stimulate economic development and improve the business climate statewide are tasked with five primary responsibilities, and can compete for funding from a pool of $1 billion to support projects they determine to be a part of their regional strategy. Gov. Andrew Cuomo recently unveiled a blueprint for how the councils will operate with information regarding resource allocation, structure and leadership, and performance measurement.

The National Science Foundation (NSF) Innovation Corps (I-Corps) program, a public-private partnership, intends to connect NSF-funded scientific research with a project team, made up of professionals from the technological, entrepreneurial and business communities, to help transition NSF-funded scientific and engineering discoveries at institutions of higher education into commercial technologies, products and processes. I-Corps grants will provide financial support to project teams in determining the commercialization potential of the technologies developed through previous or current NSF awards. Each I-Corps team will include a principal investigator, an entrepreneurial lead and an I-Corps mentor. The outcome of each I-Corps funded project will be:

A clear go/no-go decision regarding viability of products and services; A transition plan to do so (only if the decision is to move forward); and A technology demonstration for potential partners.

 

Lt. Gov. Gavin Newsom hopes that by the fall, lawmakers will enact a comprehensive legislative reform of state economic development entities in order to begin implementing a plan for growth and competitiveness that builds on the diverse strengths of California's regional economies. The lieutenant governor last week presented the first statewide economic plan in more than 10 years, outlining steps to develop a new economic model that "embraces the shift from a consumption-based economy to a production economy focused on global trade."

The plan calls for consolidating state economic development functions into a single cabinet-level office to serve as both the entry point for business assistance and to integrate state efforts in support of regional economic strategies. State commissions would be replaced with a public-private advisory group modeled after the national Council on Jobs and Competitiveness.

Internet-specific investments hit a ten year high in the second quarter of 2011, driving overall venture investment up 19 percent over the previous quarter. The National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC) report that venture capitalists invested $7.5 billion in 966 deals during the second quarter. This represents an increase of about 19 percent over the first quarter in both the number of deals and total dollars invested. The gain, however, was less significant when compared to the second quarter of 2010. Compared to that quarter, venture dollars rose only 5 percent and venture deals fell by 32 percent. The greatest increases in activity were seen in the three largest venture markets, California, Massachusetts and New York.

Venture for America (VFA), nonprofit organization, announced its official launch and the acceptance of applications for its inaugural pool of "fellows," approximately 50, selected from the graduating class of 2012. The organization hopes to "spur enterprise and encourage entrepreneurship in parts of the U.S. that struggle to attract top college graduates."

Beginning in fall, fellows will take jobs at startup companies in economically-challenged U.S. cities. VFA will match the fellows with startup companies in "industries of great potential or future importance" (e.g., energy, biotech, and materials sciences) from targeted cities including Detroit, Providence and New Orleans. The startup will hire fellows at a discounted salary of up to $38,000 per year. After two years, the startup may retain the fellow under new terms of employment.

The University of Nebraska-Lincoln's Bureau of Business Research and Department of Economics has released its latest edition of the State Entrepreneurial Index, a state-by-state analysis of entrepreneurial activity. The index uses five components — percentage growth and per capita growth in business establishments, its business formation rate, the number of patents per thousand residents and gross receipts of sole proprietorships and partnerships per capita — to rank states in business formation and innovation. New York, Washington and Massachusetts placed in the top three spots, while Oregon, Delaware, Kentucky, Texas and Rhode Island all rose more than 25 spots since the last list was published in 2008. Read the list...

The University of Connecticut seeks a vice president for economic development to provide strategic leadership and direction in building and capitalizing on facilities, expertise and technology available at UConn and in improving state economic prospects in high-value industries. This is a new position reporting directly to the president.

Recent legislative actions supporting technology-based economic development include level funding for the Massachusetts Life Sciences Center, funding to support programs of the Minnesota Science and Technology Authority and the expansion of two state programs in support of technology and life sciences companies in New Jersey.

MassachusettsThe Massachusetts Life Sciences Center, a quasi-public agency charged with implementing the state's 10-year, $1 billion Life Sciences Initiative, will receive $10 million in FY12, the same as last year. The appropriation is contingent upon a consolidated net surplus for FY11. The center has so far committed $217 million in state funds, leveraged more than $710 million in additional outside investment, and created a projected 7,000 jobs, according to the agency.

The full budget can be viewed at www.mass.gov/gaa.