SSTI Digest

Washington State is attempting to replicate the success of North Carolina’s Research Triangle in promoting regionalism and industry clusters through a new Innovation Partnership Zones initiative.   Gov. Christine Gregoire announced last week the designation of 11 Innovation Partnership Zones throughout the state -- five of which were also awarded state grants totaling $4.3 million allocated in the fiscal year 2007-09 capital budget (see the April 30, 2007 issue of the Digest).  

The angel market may be showing the first signs of leveling off following four years of moderate sustained growth. Angel investment in U.S. companies fell 6 percent in the first two quarters of 2007, according to the University of New Hampshire's Center for Venture Research (CVR). The decline itself is modest but is also the first indication that the angel market, which is a valuable capital source for many early-stage companies, may not be able to continue its pattern of steady post-tech bust growth.   The CVR report also finds that the average deal size fell by 4 percent during the first half of the year, and the number of deals declined marginally at 2 percent. At the same time, however, the number of investors per deal increased by 10 percent, signaling the increasing importance of angel networks in the industry.

The National Governors Association (NGA) Center for Best Practices has selected seven states to participate in a year-long policy academy named State Strategies for Promoting Innovative Clusters and Regional Economies. Teams from the seven states – Georgia, Illinois, Iowa, Kentucky, Maryland, Oregon and West Virginia – will collaborate with staff from the NGA to create action plans for improving each state’s competitiveness and economy through cluster development. Additionally, during the next year, the selected states will learn about research on clusters and best practices for cluster improvement, perform an analysis to gain insight on their existing state clusters, and plan strategies to orient state investments, workforce development, and education initiatives around potential clusters.  

Announced last week, Ivy Tech Community College will receive a $3.18 million grant for training individuals from a 14-county region in North Central Indiana in science, technology, engineering, and math (STEM) fields. The grant, a component of the $15 million Indiana Workforce Innovation in Regional Economic Development (WIRED) initiative funded by the U.S. Department of Labor, will establish the New Pathways to STEM-based Careers program. The New Pathways program will be concentrated into three distinct areas:

Mark Allen was named the new senior vice provost for research and innovation at Georgia Tech. Allen replaces Charlie Liotta, who has returned to the school's faculty. Gov. Linda Lingle announced 18 appointments to the Hawaii Innovation Council, which will work with groups statewide to increase the economic impact of Hawaii's innovation resources. Co-chairmen include Mark Benioff, Ron Higgins and Jay Shidler. George Burrell resigned as president and CEO of Innovation Philadelphia. Kelly Lee, the organization's executive vice president, is running day-to-day operations until Burrell's successor is named.

Mark Allen was named the new senior vice provost for research and innovation at Georgia Tech. Allen replaces Charlie Liotta, who has returned to the school's faculty.

Gov. Linda Lingle announced 18 appointments to the Hawaii Innovation Council, which will work with groups statewide to increase the economic impact of Hawaii's innovation resources. Co-chairmen include Mark Benioff, Ron Higgins and Jay Shidler.

George Burrell resigned as president and CEO of Innovation Philadelphia. Kelly Lee, the organization's executive vice president, is running day-to-day operations until Burrell's successor is named.

Jim Cookinham, founder of the Northeast Ohio Software Association and vice president of networks and education for COSE (Council for Smaller Enterprises), said he will retire at the end of 2007.

Eric Cromwell is the new president of Tennessee Technology Development Corp., an organization designed to leverage state, federal and private sector investments in science and technology infrastructure for economic value.

Michael Dailey was elected president of the Maryland Business Incubation Association.

Martin Donnelly has been named the regional director of the South Central Indiana Small Business Development Corp. Former Region Director Brian Kleber resigned earlier this year to take a job in the private sector.