SSTI Digest

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:

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.

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.

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: 

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

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.

A popular strategy in the TBED community is the attempt to both recruit and develop academic entrepreneurs that may have a substantial effect on the growth of a region's economy. Successful efforts to attract researchers, such as the Georgia Research Alliance and Kentucky's Bucks for Brains programs, are being replicated across the country. However, if one of the hoped-for payoffs is the successful creation of innovative companies, what types of researchers are best suited for this role? A recent discussion paper by Dirk Czarnitzki and Andrew Toole released via the Centre for European Economic Research contributes to the growing collection of studies that measure the impact of the background of entrepreneurial researchers on their firms' performance.