SSTI Digest

A number of crucial TBED initiatives introduced earlier this year by North Dakota Gov. John Hoeven were recently enacted by the state legislature, including a $42 million renewable energy plan, $20 million in new funding for university-based Centers of Excellence, a 25 percent R&D tax credit, and additional investments in research and workforce development.   A comprehensive renewable energy plan aimed at supporting both state and national energy goals was created to help maximize use of the state’s renewable energy resources. The package also includes funding for programs that support the 25 x 25 Initiative, a nationwide goal that calls for 25 percent of the nation’s energy to come from renewable resources by the year 2025.   Funding for renewable energy investment programs and alternative energy development is central to the plan. This includes a new Biomass Energy Center to conduct research on biomass production and conversion; $5 million for the Biofuels PACE Fund, an interest buy-down program; and, $7.3 million for the governor’s Ethanol Production Incentive Fund, offering counter-cyclical support for ethanol…

University administrators most commonly measure success for their technology transfer efforts by revenue generation. Public institutions, however, increasingly have state legislators, governors and local civic leaders expecting those licenses and spinoffs to occur within their political borders. Tech transfer does not always equate to regional economic development to the degree desired by policymakers.   The carrot and stick analogy plays well to the different approaches states are attempting to keep more of the technology commercialization at home. Ohio's new Technology Commercialization Incentive (TCI) Fund is one of the latest carrots - rewarding the best schools, whether public or private, with cash.   Two weeks ago, the Ohio Board of Regents selected three universities as the first-ever recipients for TCI awards, totalling $500,000. The annual reward is based on an index score, calculated with weighted measures of: 1. Each university’s research expenditures provided by in-state companies, normalized by the total statewide research contributions from in-state companies during the previous fiscal year. (…

At the 2007 SSTI annual conference, the Trent Lott National Center of Excellence for Economic Development & Entrepreneurship <http://www.trentlottcenter.com/> intends to make an award to the researcher or research team that has made the most significant impact on the field of technology-based economic development in the last five years. The chosen researcher will receive a significant honorarium and will present findings at the 2007 SSTI Annual Conference, Oct 18-19 in Baltimore. Judges will include active researchers who have significant practical experience in TBED. Judges will consider the quality of the research, the applicability and impact of the research findings on TBED policy and practice, and the ability of the selected researcher to present at the 2007 SSTI annual conference. Please enter nominations at http://www.trentlottcenter.org/researchaward.htm or e-mail nominations to ken.malone@usm.edu with the names of nominees; contact information of nominees, including e-mail, mailing address, and/or phone number; references to journal articles (preferred), conference presentations, websites or a very brief…

A big week for big cheeses: Idaho Gov. Butch Otter selected James Ellick to head the Idaho Department of Commerce. Ellick brings a tech perspective to the department, having run four venture capital backed tech companies in Silicon Valley in his past. Kentucky Gov. Ernie Fletcher named John Hindman, retired former vice president of strategic communications and public affairs for UPS Airlines, to run the state's Economic Development Cabinet. John Mengacci, CEO of Connecticut Innovations, announced his resignation. New Mexico Gov. Bill Richardson appointed Fred Mondragon as the director of the state's economic development department. Mondragon had been economic development director for the city of Albuquerque. New York Gov. Elliot Spitzer nominated Edward Reinfurt to serve as executive director of the New York State Foundation for Science, Technology and Innovation. Reinfurt has been vice president of the Business Council of New York State, a statewide 4,000-member chamber of commerce, since its founding in 1980.

Idaho Gov. Butch Otter selected James Ellick to head the Idaho Department of Commerce. Ellick brings a tech perspective to the department, having run four venture capital backed tech companies in Silicon Valley in his past.

Kentucky Gov. Ernie Fletcher named John Hindman, retired former vice president of strategic communications and public affairs for UPS Airlines, to run the state's Economic Development Cabinet.

John Mengacci, CEO of Connecticut Innovations, announced his resignation.

New Mexico Gov. Bill Richardson appointed Fred Mondragon as the director of the state's economic development department. Mondragon had been economic development director for the city of Albuquerque.

New York Gov. Elliot Spitzer nominated Edward Reinfurt to serve as executive director of the New York State Foundation for Science, Technology and Innovation. Reinfurt has been vice president of the Business Council of New York State, a statewide 4,000-member chamber of commerce, since its founding in 1980.

The 2008 SSTI Annual Conference could come to your city! Increase your national and international visibility by showcasing the success of your state and/or community’s tech-based economic development efforts to thousands of TBED professionals through SSTI's conference. This is your opportunity to shine in the spotlight. Some of the host benefits include:  Minimal or no travel expenses incurred for conference attendees from your state. This cost savings and convenience facilitates greater participation and attendance at the conference by your key state and local decision makers and practitioners in the region's tech-based economic development community. The result can be a better understanding and stronger commitment among legislators and civic leaders to building a tech-based economy, as well as reinvigorating your program staff and board with fresh ideas, perspectives and professional development tips from peers from around the country. Opportunity to host an Opening Reception, welcoming all SSTI conference attendees. 40 complimentary registrations for SSTI's 12th Annual Conference for distribution as…

Bills have been passed and budgets approved with the close of several 2007 legislative sessions in the western states. The below article is part of the Digest's continuing coverage of the legislative outcomes of some of what governors proposed in their State of the State and budget addresses (see SSTI’s Tech Talkin’ Govs Series in the Jan. 8, Jan. 15, Jan. 29 and Feb. 19, 2007 issues of the Digest).   Washington The 2007 legislative session ended last month with the approval of the first installment of $70 million over the 2007-09 biennium for the Life Sciences Discovery Fund. Created in 2005, the fund provides grants for promising life science university research within the state. The bill allocates $35 million per year from strategic tobacco settlements for 10 years beginning in 2008 (see the May 16, 2005 issue of the Digest).   Legislation was passed to fund Innovation Partnership Zones (HB 1091) at the request of Gov. Christine Gregoire and the Global Competitiveness Council. The fiscal year 2007-09 capital budget includes $5 million for the zones — designated areas of Washington where globally…

Experience can be an invaluable, and sometimes irreplaceable, asset during the intense and complicated process of building a new firm. Many theorists believe that past entrepreneurial experience, whether with successful or unsuccessful firms, prepares entrepreneurs for the pressures and risks involved in starting a company. In his book, New Venture Creation: Entrepreneurship for the 21st Century, JA Timmons observes that failure is a prerequisite for entrepreneurial success and that entrepreneurs frequently fail in creating their first company only to succeed in their second. Failures teach lessons that can only be imparted through "real world" experience and firsthand exposure to what can go wrong during the tenuous early stages of venture development. In a recent article, however, Georg Metzger of the Centre for European Economic Research reports that not all entrepreneurial experiences are created equal. In general, prior experience with other start-ups increases the likelihood of success with future ventures. If at least one of its managing firm owners has had previous experience with forming a business, a new venture is likely to create more…