SSTI Digest

State Also Begins Work on $150M Stem Cell Research Center An agreement between Gov. Jon Corzine and state legislative leaders will result in a $450 million bond referendum being put before New Jersey voters this fall. If approved, the money will be used to augment support for the state’s stem cell research initiative over the next 10 years. New Jersey already has committed to spending $270 million on stem cell research (see the Jan 8, 2007 issue of the Digest)

 

On the same day the bond issue agreement was announced, the New Jersey Economic Development Authority (NJ EDA) approved $9.2 million in preconstruction costs for the planned Stem Cell Institute facilities in New Brunswick. The New Brunswick Development Corporation will oversee the development of the new research facilities. Major construction is slated to begin next year and is expected to conclude sometime in 2011.

 

North Carolina does not, at first glance, seem to be a venture capital underperformer. In 2006, venture capitalists invested close to $510 million in North Carolina, almost $60 million of which was invested in seed and early-stage businesses, according to the Pricewaterhouse Coopers Moneytree Survey of VC investment. However, while the state ranks 12th in seed/early-stage investment, many in the state perceive the lack of seed funding to be a major obstacle to economic growth. Earlier this year, a survey conducted by the Wilmington-based Council on Entrepreneurial Development (CED) revealed that access to capital, particularly to seed-stage equity investment, was one of the top concerns of entrepreneurs in the state.

 

The field of nanotechnology is progressing in terms of size and maturity. The federal investment, alone, as proposed by the Administration in the 2008 Budget under the National Nanotechnology Initiative, was $1.45 billion. As public and private sector investments are pumped into this field, distinct concentrations of nanotech activity are being created in regions across the country.



One might think these emerging hotspots are located in close proximity to the leading nanotechnology research institutions. The May/June 2007 edition of Small Times magazine lists the top universities in the micro and nano fields, in categories such as research, education, facilities, and commercialization leadership. Two versions of these top 10 lists are provided, one for the universities that completed the Small Times survey and one version developed from opinions of peers in the field. Besides these rankings, the magazine provides a profile of many of these research-intensive universities where nanotechnology clusters may develop.

With a projected national shortage of more than 280,000 math and science teachers by 2015, key stakeholders must begin initiating strategies to recruit, retain and renew the nation’s teaching workforce, says a new report by The Business-Higher Education Forum (BHEF).

 

The report provides a comprehensive action plan to transform the quality of the teaching workforce and address the growing shortfall of math and science teachers. According to the authors, the annual turnover rate for math teachers is the highest of all subject areas at 16.4 percent, followed by science teachers at 15.6 percent. In addition, U.S. students are losing ground to their international counterparts in math and science performance - areas imperative to American economic competitiveness.

 

Recommendations fall under three key factors of recruitment, retention and renewal, recognizing the need to align and coordinate contributions from federal government, state government, school districts, higher education and business and foundations. Key recommendations include:

The Bureau of Economic Analysis (BEA) has published its latest update on the real gross domestic product (GDP) growth of each state. The update includes advance estimates for 2006 data, as well as revisions to data from 2003-2005.

 

SSTI has prepared a table showing every state’s real GDP per capita from 2003 to 2006. Besides these values, the table also includes:

The field of tech-based economic development has changed dramatically since the creation of SSTI in 1996 and continues to change almost daily. With these changes in mind, SSTI is releasing a new mission statement that better defines the organization's current direction.



SSTI's new mission is to lead, support, and strengthen efforts to improve state and regional economies through science, technology, and innovation.



SSTI has many ongoing mission driven initiatives, including:

Alabama Gov. Bob Riley and lawmakers recently gave the state's Department of Education a substantial boost by increasing the budget for the Alabama Math, Science and Technology Initiative (AMSTI) by two-thirds for fiscal year 2008 – a leading example in science, technology, engineering and math (STEM) education.



Historically, Alabama has ranked low in educational attainment compared to the rest of the country. In 2005, Alabama ranked 47th in the nation in percentage of adults age 25 or older with a bachelor’s degree or higher (see the Nov. 27, 2006 Useful Stats table in the Digest). However, last week, Gov. Riley signed into law a record education budget, investing more funding than ever before in Alabama’s history. AMSTI, the Department of Education’s initiative to improve math and science teaching statewide, will receive $35.8 million, a significant increase from the FY07 appropriation of $22 million.

Should a fall of 11 places in international rankings for broadband penetration be of concern for U.S. policymakers? Expanding broadband access for business and residents has become a key element of many regional development strategies. The Internet has become a key resource for entrepreneurs and small businesses, as well as a necessary ingredient in preparing students for the modern workforce. Widespread broadband use offers many advantages for regional economies, especially in regions that have traditionally lagged in high-tech development, but may now be able to access information and markets that were once beyond their reach.

What are the main reasons the innovative output of one locale differs from another? If one wanted to explain the differences in patent production between two states, it may be reasonable to look at metrics such as the amount of R&D investments by each state, and the number of employed researchers in the state’s workforce. In other words, one can investigate how inputs to innovation affect the outputs of innovation.



Taking this discussion a step further, what if the physical organization of these inputs within a locale also influences the development of innovation? That the differences in the spatial organization of these inputs, also referred to as the economic geography, can also explain the differences in the generation of innovation is the topic of a recent working paper by Riccardo Crescenzi, Andres Rodriguez-Pose, and Michael Storper.

The National Science Foundation has released the 2004 results of its annual survey of Federal Funds for Research and Development series. The report provides a breakdown of federal R&D obligations by R&D and R&D plant for federal agency, type of performer, character of work, field of science and engineering, and geography. Estimates for 2005 and 2006 obligations are included for most statistical tables, with the exception of geographic distribution of funds. The most recent data available by state is for fiscal year 2004.



Securing more federal R&D funds captivates significant attention from many state TBED initiatives. Tables 128-131 provide historical data by state from 1985-2004.

Building on past reports calling for higher levels of educational achievement in the South, the 2007 Southern Growth Polices Board Report outlines a three-pronged strategy to aid the southern region in attaining its goal of building a globally competitive workforce. The annual Report on the Future of the South, released earlier this month, labels its new approach "Convene-Connect-Commit," addressing the process in detail.



The report condenses information from many sources to illustrate the status of the Southern workforce. The authors reveal that, in 1980, 16 percent of the nation’s population 25 years and older had attained a bachelor’s degree or higher, compared to 14 percent in the South. However, in 2000, these numbers had risen to 24 percent for the nation and 20 percent for the South. While the percentage of degree attainment is rising, the gap is widening.

Fantastic Marketing Opportunities Still Available Excitement for SSTI's 11th annual conference is growing as the entire exhibit space is now sold out - several months before the event. There are, however, several other options available to build awareness of your TBED program and generate beneficial relationships with the nation's top state and regional TBED decision makers at this year's event.



Learn how your organization can join with our current partners to take advantage of this powerful networking and outreach opportunity. Contact Noelle Sheets, SSTI director of membership services, at sheets @ ssti.org to discuss how an SSTI conference partnership can enhance your marketing strategy.



SSTI would like to thank our current 2007 Conference Partners:

Conference Kick-Off Breakfast: