SSTI Digest

The Colorado Governor's Energy Office added to its staff three regional representatives: Bob Mailander, Joani Matranga and Mona Newton.

Gov. Rick Perry appointed Bill Morrow as the new chairman of the Texas Emerging Technology Advisory Committee. Morrow replaces David Spencer, who remains a member on the committee.

Thomas Rainey was named the new president and CEO of the Northern Arizona Center for Emerging Technologies.

The Rhode Island Manufacturers Association and the Rhode Island Manufacturing Summit have joined forces to serve as one voice for manufacturing in the state.

The Pittsburgh Technology Council appointed Audrey Russo as president and CEO.

The Idaho communities of Greenleaf, Homedale, Grand View, Marsing, Melba, Parma and Wilder have formed the Western Alliance for Economic Development.

The North Carolina Biotechnology Center selected Rick Williams to lead its Business Acceleration and Technology Out-licensing Network, a new technology transfer program.

Only a dozen seats remain available for new registrations to attend SSTI's 11th Annual Conference, which will be held Oct. 18-19 in Baltimore's fun-packed Inner Harbor. That's 12 seats, not a baker's dozen of 13. Given the two-week lead time before the event, SSTI strongly anticipates we will not be able to accommodate walk-in registrations the day of the conference. We encourage those of you making arrangements or planning to attend to register as soon as possible. Registrations can be taken over the phone (614.901.1690) or on our secure webpage: https://www.ssti.org/Conf07/registration.htm We're called crazy when we do it, but SSTI firmly believes that it is in the best interest of our conference participants to limit the size of the audience. It stimulates better discussion during the 19 dialogue-intensive breakout sessions. It makes it much easier to start and continue conversations during the 30-minute networking breaks, breakfasts, lunch and two receptions. Overall, it is meant to convey SSTI's commitment to a quality event. Our attendees are participants in the TBED community's premier professional development event of the year, not merely…

Just a few short months ago, many states were wrapping up their 2007 legislative sessions and preparing for the start of a new fiscal year. Laying the groundwork for a successful 2008 session, two governors recently announced major TBED initiatives that will be presented to lawmakers in the coming months.

Socially-responsible entrepreneurs at the University of Maryland now have a new financial resource available to help them get new businesses off the ground. The university's Impact Pre-Seed Fund program will offer grants to students with business plans that could offer potential benefits to global society. Students participating in the university's Hinman CEOs program and the Hillman Entrepreneurs program will be eligible for two kinds of grants: Seed Fund grants of $2,000 to $5,000 will be awarded to students with complete, well researched business plans, and Opportunity Assessment grants of $500 to $1,000 will be available to fund promising ideas that require additional research. Each grantee will be assigned a mentor to help guide the new business and to monitor the use of the award. Warren Citrin, co-founder of the Solypsis Corporation (now Raytheon Solypsis), donated $250,000 to launch the fund. Citrin hopes it will provide students with the financial support they need to exert a positive influence on the world around them. "The weakest link for student entrepreneurs has always been the funding," says Citrin in a press release announcing the new…

Earlier this year, Arizona Gov. Janet Napolitano and the Arizona State Legislature committed $100 million over four years to support Science Foundation Arizona, a nonprofit public-private partnership to coordinate the state’s R&D investments in science and technology. The catch? The law required a dollar-to-dollar match of non-government funding of the annual $25 million allotment before the state could release its funding to Science Foundation Arizona.   The initial $35 million appropriation for 2007 did not come with the restriction. Science Foundation Arizona allocated $30 million of that funding to 55 recipients for projects ranging from improving science and math education to commercializing new research discoveries.   The first funds to be affected by the tight purse strings are for fiscal year 2008, which potentially created a sizable hurdle for developing and sustaining a long-term S&T investment strategy for the organization and state.   In steps the Stardust Charitable Fund with a $25 million check to cover the FY 2008 obligation. The Stardust Charitable Fund, a foundation…

At some point, most start-up businesses require an infusion of outside capital to grow into a profitable enterprise. This infusion often comes in the form of venture capital (VC) investment, which provides capital and some degree of managerial guidance in exchange for an equity stake in the company. Venture investment can be a blessing for entrepreneurs looking to survive the risk-filled early stage of firm development and to professionalize their business, but it also reduces the entrepreneur's incentive to create a highly profitable company. The entrepreneur loses some of the freedom to govern the company as he sees fit, and once the company makes a successful exit, the venture investors will claim their share of the profits.   Despite the visibility of the VC industry, only 10 percent of start-ups receive VC support. The remaining 90 percent turn elsewhere for outside funding, often from commercial banks. Bank loans do not come with the same strings attached as venture investment, but borrowers do not have access to the managerial and industry guidance that may be available through venture firms. Entrepreneurs are forced to make it on their own…