SSTI Digest

LEESBURG -- Lake County commissioners agreed to partner with the city and the University of Central Florida to beef up a business incubator in hopes of attracting more start-up companies. The partnership includes $85,000 in county funds for the UCF Research Foundation to support the incubator's staffing. The incubator, which was created last year, is at the Leesburg Business & Technology Center on Market Street. This is UCF's first incubator in Lake. It is designed to provide training and infrastructure to upcoming companies. Through an incubator program, businesses have a better chance of thriving, county officials say. The partnership also includes the combined efforts of the Lake-Sumter Community College Business Resources Center and the Leesburg Chamber of Commerce.

Status of some of the major legislation in the 2009 session of the 52nd Oklahoma Legislature as of Feb. 6: SB 1 by Gumm NICK'S LAW: Would mandate coverage by private health insurers of the diagnosis and treatment of autism. Referred to Senate Retirement and Insurance Committee. SB 59 by Rice VETERANS INSURANCE: Would make some uninsured veterans eligible for a state premium assistance insurance program. Passed by the Senate Appropriations Subcommittee on Health and Human Services, sent to full Senate. SB 255 by Ivester VETERANS TUITION: Would waive tuition expenses for Oklahoma veterans attending Oklahoma colleges and universities. Passed by the Senate Appropriations Subcommittee on Education, sent to full Senate. SB 291 by TEACHER SALARIES: Would give state teachers pay raises of $9,000 over a three-year period. Passed by the Senate Appropriations Subcommittee on Education, sent to full Senate. SB 315 by Mazzei INCOME TAX: Would delete the 4 percent trigger in revenue growth needed to reduce the state income tax from 5.5 percent to 5.25 percent. Passed by the Senate Finance…

DATELINE: OLYMPIA, Wash. Gov. Christine Gregoire, D-Wash., issued the following press release: Gov. Chris Gregoire today praised the state's Economic Development Commission, which just released its strategic plan to help guide Washington as it develops a stronger, 21st century economy. "This report confirms that Washington is on the right track to build a more sustainable economy," Gregoire said. "I applaud the commission for its tireless work to review our programs and ensure that Washington will continue to support and strengthen our local businesses." In 2007, the state Legislature charged the commission with creating a statewide economic development strategy to guide the operation of the state's economic development programs, infrastructure investments, work force training and small business assistance. The commission's economic development strategy was formulated by business, education, research and government leaders from across the state. "An innovation economy requires doing new and different things very well," said Egils Milbergs…

DATELINE: PARIS France Biotech, the professional association for French life science companies and their partners ( www.france-biotech.org ), has reported a major drop in equity investments in French biotech companies: funding fell by 79% in 2008, relative to 2007 ((EURO)143 million in 2008 versus (EURO)694 million in 2007). Investment in listed companies collapsed (only (EURO)12 million in 2008 - a fall of 98%). Venture capital investments in private companies ((EURO)132 million in 2008) fell by 27%. The trend for early 2009 appears to show continued degradation. Philippe Pouletty MD, France Biotech's Chairman, commented that "in order to underpin the optimism of our entrepreneurs, we must adopt an aggressive stimulus plan for young, innovative companies. Assuming that they can access finance, today's innovative SMBs will become tomorrow's multinationals and thus constitute an essential driver of strong, sustainable economic growth". Paradoxically (and in contrast to French President Nicolas Sarkozy's declarations on 22 January), the French government has weakened its support for young, innovative…

DATELINE: CONCORD, N.H. The New Hampshire Business Resource Center issued the following news release: New Hampshire Manufacturing Extension Partnership (NH MEP) announced today that it has partnered with the New Hampshire Division of Economic Development to launch a research study to assess the progress of state manufacturers in adopting strategies to win in the global economy. The Next Generation Manufacturing Study is the first step in a long-term effort to help state manufacturers weather today's recession and improve manufacturing competitiveness over the next decade. The web-based study, which starts February 10 and ends March 15, is confidential and takes approximately 30 minutes to complete. Manufacturing participants will receive a customized benchmarking report comparing their progress to the overall results as well as to other respondents of similar revenue and number of employees. The questionnaire asks manufacturers to rank their progress toward the world-class performance benchmarks of Next Generation Manufacturing, a framework of strategies that will drive…

DATELINE: Washington The following information was released by the National Association of State Universities and Land-Grant Colleges: The lack of highly qualified science and mathematics teachers in middle and high school classrooms across America is a crisis that is well-established. If the U.S. is to remain a leader in engineering, technology and innovation in the global market place, the state of science and mathematics education must be reversed. The presidents of 74 public universities and 11 university systems representing an additional 33 campuses have taken a bold step toward reversing the crisis by formally committing to the Science and Mathematics Teacher Imperative (SMTI) developed by NASULGC, A Public University Association (To see a complete list of institutions, click here). SMTI institutions commit to increase substantially the diverse pool of highly qualified science and mathematics teachers in their states. Institutions will work with appropriate state agencies to identify their immediate and longer term needs for high school teachers. They will bolster partnerships…

Spectrum Bridge Inc. has become the first graduate of the University of Central Florida's Incubation Program Seminole County/Winter Springs office. According to a release, the Lake Mary-based Internet marketplace and mapping technologies company joined the program in February 2008. The company has begun generating revenue and completed rounds in venture capital funding totaling $8.1 million, said Esther Vargas-Davis, site manager at the Seminole County incubator office, in a release. UCF's incubator program includes courses related to company growth, market growth and investment/funding strategy sessions for start-up businesses. The program, which opened in 2008, is partnered with UCF, the city of Winter Springs, Seminole County and the Florida High Tech Corridor Council.

Not all of the news coming out of governors' offices is bad for TBED strategies. For example, just in the past week, governors in Missouri, Ohio and Texas proposed increases in state investments for job creation in emerging fields, higher education scholarships, and technology commercialization and research programs. The following overview provides highlights of their recommendations for TBED proposals in the upcoming fiscal year or biennium. Missouri During his first State of the State Address last week, Gov. Jay Nixon outlined his priorities for the upcoming fiscal year, which include a 38 percent increase in funding for job creation and workforce development programs, an expanded college scholarship program, and level funding for a statewide science, technology, engineering and mathematics (STEM) initiative through the Department of Elementary and Secondary Education. Announced in January, the Show Me JOBS initiative focuses on growing small businesses throughout the state and expands upon the current Quality Jobs Program and the Missouri BUILD program. Last month, the governor signed three executive orders in support of the initiative. Executive Order…

As part of the 2010-11 biennial budget unveiled last week, Gov. Tim Pawlenty proposed a package of tax incentives directed toward small, emerging businesses and companies that create green jobs and services. The governor's proposed Minnesota Jobs Recovery Act calls for a sizable investment over the next biennium with even greater costs beginning in 2012. Within the Department of Employment and Economic Development, the governor is proposing investment tax credits totaling $50 million, deferred until 2012. Under the proposal, $38 million in tax incentives would be available to insurance companies for early-stage investments in certified capital companies. This proposal creates a 60 percent tax credit in the form of an insurance premium tax credit and is allowed only in the fifth calendar year after the investment is made at a rate not exceeding 20 percent of the earned credit in any taxable year, according to budget documents. Another $12 million is recommended for angel investments in regional investment funds, including a 25 percent tax credit for investments in funds that invest in qualified businesses meeting defined criteria. The credit would be allowed only…

Facing a $1.6 billion budget deficit, Arizona legislators set their sights on the state's three-year old 21st Century Competitive Initiative Fund. A group of four Republican lawmakers led the effort to remove the program's $22.5 million from the 2009 state budget, which was signed by new Governor Jan Brewer last week. The fund was started under former Democratic Governor Janet Napolitano, who recently left office to join the Obama administration as secretary of Homeland Security. The Fund supported the efforts of Science Foundation Arizona (SFAz), a non-profit corporation that matched the state dollars with private funds to strengthen Arizona's biomedical research and industry. With the cuts, the future of the organization is uncertain. When the initiative was announced in 2006, it was conceived as a way to leverage private funding to support bioscience education, research and commercialization. Three local groups, Greater Phoenix Leadership, the Southern Arizona Leadership Council and the Flagstaff 40, created the SFAz that year to help support bioscience and technology-based growth. Governor Napolitano provided an initial $35 million in funding for SFAz and committed…

Geographic Concentration Continues as California Share Grows, SSTI's VC Dashboard Shows U.S. venture investment experienced its first yearly decline since 2003 last year, according a recent PricewaterhouseCoopers and National Venture Capital Association (NVCA) MoneyTree Report. The report finds that total investment dollars dropped eight percent in 2008, while deal volume decreased by four percent. A press release accompanying the announcement cited market insecurity and a slowdown in exits for the fourth-quarter declines that led to the lower numbers. Those losses were not equally spread out around the country. California, by far the nation's largest venture capital market, made modest gains in invested dollars and only a slight decrease in the number of deals. Firms invested more than $14.2 billion in the state last year in 1,552 deals. Though these figures only account for a 3.34 percent increase and a 1.33 percent decrease respectively, in the current economic climate they represent a substantial uptick in California's national venture influence. As of 2008, the state accounts for more than half of the nation's venture investment (50.41 percent), up from 45.64…

The fifth installment of the Tech Talkin' Govs series includes highlights from state of the state, budget and inaugural addresses from governors in Alabama, Michigan, Ohio, Oklahoma, Pennsylvania and Utah. Alabama Gov. Bob Riley, State of the State Address, Feb. 3, 2009 "And let's make Alabama more competitive with other states for higher paying jobs. Our current incentives focus almost entirely on manufacturing, and Alabama will continue to be aggressive in the pursuit of those jobs. But in today's economy we need a more balanced approach. One that makes more industries eligible for our economic incentives: knowledge-based industries that typically pay higher wages like research and development facilities, corporate headquarters and other entrepreneurial ventures. . ". As we seek to lessen our dependence on foreign oil, there are many companies working to create new and cheaper forms of energy right here in America. These companies also create 21st century jobs that are here to stay. But Alabama doesn't provide tax incentives to these companies. So our recovery plan makes sure Alabama will be a leader in the emerging green economy. .…