SSTI Digest

Angel networks are often seen as an effective way to make sense of hodgepodge of individual investors, institutional funds and investment groups that make up the early-stage capital industry. Though many regions suffer from a lack of early-stage capital, this problem is often exacerbated by insufficient knowledge among entrepreneurs about local angel investors and groups and vice versa. Angel networks can fill this void by facilitating communication between local investors and entrepreneurs, thereby increasing the number of opportunities available to both. Several states provide financial support for angel networks, including Wisconsin (Wisconsin Angel Network), Pennsylvania (Pennsylvania Angel Network), Mississippi (Mississippi Angel Network) and Washington (WTC Angel Network).

As community leaders plan the physical development of their regions, some recent research may offer insight into the benefits of encouraging close proximity between firms. A group from Statistics Canada has published a paper exploring the various gains in productivity that manufacturing firms experience due to geographic concentration. In Urban Economies and Productivity, John Baldwin, Desmond Beckstead, W. Mark Brown and David Rigby use longitudinal data from a collection of approximately 20,000 manufacturing establishments across Canada.  

Together, we’re growing a strong and vibrant tech-based economic development community. State Sponsors Virginia Economic Development Partnership Washington Life Sciences Discovery Fund Affiliates Center for Advanced Engineering & Research City of Dublin, Ohio Defense Metals Technology Center Idaho National Laboratory Nashville Area Chamber of Commerce Wisconsin Security Research Consortium

As part of the budget deal agreed upon earlier this week between Gov. Ed Rendell and Pennsylvania lawmakers, two of the governor’s major TBED priorities - the Jonas Salk Legacy Fund and an alternative energy fund - will be voted on later this year.    Under the budget agreement, lawmakers committed to a roll call vote in November to decide on the Jonas Salk Legacy Fund, which proposes borrowing $500 million from the state’s tobacco settlement proceeds to invest in scientific research (see the Feb. 19, 2007 issue of the Digest). The initiative will be matched on a dollar-for-dollar basis, yielding $1 billion in new bioscience investments, according to the governor’s press office.  

The deepest mine in the U.S. has been selected by the National Science Foundation as site of its Deep Underground Science and Engineering Laboratory. Also known as the “Homestake” in the Black Hills of South Dakota, the site contains 375 miles of tunnels, some extending more than 8,000 feet into the earth. Why build a national laboratory with some components more than a mile below the earth’s surface? Because the unique environment deep under the earth allows for some very interesting experiments to occur. In the field of particle physics for example, thousands of feet of rock can be used to shield equipment from the cosmic rays that make particle detection difficult. In microbiology, tiny organisms living without sunlight miles below the surface with the ability to degrade waste and produce energy can be observed and studied. And in the earth sciences, geophysical characteristics of the earth’s crust including thermal properties and tectonic stresses can be further explored.

From federal, state and local governments to nonprofit organizations and private industry, nearly every sector has a stake in recruiting youth to the high-tech manufacturing jobs of the future in order to maintain a competitive advantage.   According to a 2005 Survey by the National Association of Manufacturers (NAM), 80 percent of U.S. manufacturers indicated they face a moderate-to-severe shortage of qualified workers. The survey finds that “this human capital performance gap threatens our nation’s ability to compete in today’s fast moving and increasingly demanding global economy.”   In addition, research shows a direct relationship between manufacturing’s negative image – which is tied to the old stereotype of the assembly line – and the decreasing number of young people pursing manufacturing careers, according to NAM. Several states have enacted programs and partnerships to address not only the shortage of qualified workers, but also the stigma of traditional manufacturing.  

Every year, the National Science Foundation releases its Academic R&D Expenditures report, filled with statistics concerning the characteristics of research and development at U.S. colleges and universities. Using these reports, SSTI has prepared two tables detailing the funds provided by industry from 2001 to 2005 for institutions of higher education in each state and the District of Columbia. The first table displays the amount of R&D funds provided by industry for each year from 2001 to 2005, the percent change over the years, and each state’s ranking by this percent change. Over the five years, industry’s contribution to academic R&D increased by 184 percent in Rhode Island, growing from $2.28 million in 2001 to $6.34 million in 2005. South Dakota, Hawaii, Indiana, and Ohio rounded out the states with the largest increases, while 26 states witnessed decreases in funding over the five-year period. For the U.S. as whole, total R&D funding from industry to academia increased by 3.3 percent.

The business development organizations Ann Arbor SPARK and Ann Arbor IT Zone are in the process of finalizing a merger. The resulting organization will be Ann Arbor SPARK. Canada's 17 research parks have agreed to join forces, creating a formal association. Conexus Indiana, a new initiative focused on the state’s advanced manufacturing and logistics industries, will be led by President and CEO Carol D’Amico, former executive vice president and chancellor of Ivy Tech Community College. Utah Gov. Jon Huntsman has named Dr. Ragula Bhaskar chairman of the Governor's Office of Economic Development (GOED) Board. In addition, GOED has appointed Tamara Goetz as the state's new science advisor.

The business development organizations Ann Arbor SPARK and Ann Arbor IT Zone are in the process of finalizing a merger. The resulting organization will be Ann Arbor SPARK.

Canada's 17 research parks have agreed to join forces, creating a formal association.

Conexus Indiana, a new initiative focused on the state’s advanced manufacturing and logistics industries, will be led by President and CEO Carol D’Amico, former executive vice president and chancellor of Ivy Tech Community College.

Utah Gov. Jon Huntsman has named Dr. Ragula Bhaskar chairman of the Governor's Office of Economic Development (GOED) Board. In addition, GOED has appointed Tamara Goetz as the state's new science advisor.