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SSTI Digest
K-12 Pilot Programs Shape Tomorrow's Entrepreneurs
A well rounded K-12 educational system has long been regarded as a prerequisite for robust regional growth. An accessible supply of early stage capital is another key ingredient for entrepreneurship. Can both be accomplished simultaneously?
A recent white paper from CFED suggests yes, public school systems can do more to prepare students for participation in the entrepreneurial community. Linking Youth Savings and Entrepreneurship proposes it could be as simple as combining existing education programs to encourage entrepreneurship while promoting sound personal fiscal management. The result is students building their own nest eggs to launch entrepreneurial opportunities once they finish high school or college.
Several pilot programs specifically address the need for entrepreneurial education in K-12 schools, adding a finance twist as well:
Census Bureau Survey Provides Key Data on Nations Population Changes
The Census Bureau recently released a 2005 update for American Community Survey (ACS), the most detailed demographic information available for nearly 7,000 areas including congressional districts, counties, cities and American Indian/Alaska native areas with a population of 65,000 or more.
ACS addresses one of the greatest challenges for demographers and economic development policy researchers -- the availability of current data on the nations changing and diverse population. Prior to the annual ACS, this information was historically gathered once a decade.
The 2005 ACS data include demographics such as sex, age, race, education, place of birth, marital status, education, veterans, disability status and U.S. citizenship. Additionally, the data represent the first update of key population characteristics since 2000 for 75 of the top 100 fastest-growing cities in the nation.
The ACS website allows comparison of several geographic units at once as well as mapping capabilities.
Useful Stats: Industrial Support for Academic R&D by State, 2000-2004
In 2004, U.S. industry-financed academic R&D totaled more than $2.1 billion -- a $54.9 million decrease from 2003, according to the National Science Foundations Survey of Research and Development Expenditures at Universities and Colleges, Fiscal Year 2004.
For the 2000-04 period, the U.S. as a whole experienced a decrease of 3.26 percent in academic R&D expenditures funded by industry sources -- 2004 was the third consecutive year that the U.S. total has slipped. It should be noted that during the 2000-04 period, academic R&D from all sources of funds saw an almost 43 percent increase (see SSTI's table from last week).
People
Mary Lawyer is leaving the Iowa Department of Economic Development to be the president and CEO of Des Moines' Downtown Community Alliance, effective Sept. 14.
Maneesh Sagar has been named director of investments at Connecticut Innovations.
Purdue University has hired Mark Smith as its new Workforce Innovations in Regional Economic Development project administrator.
People
Mary Lawyer is leaving the Iowa Department of Economic Development to be the president and CEO of Des Moines' Downtown Community Alliance, effective Sept. 14.
People
Purdue University has hired Mark Smith as its new Workforce Innovations in Regional Economic Development project administrator.
Benefits of Undergraduate S&E Programs Not Limited to High-Tech Economy, According to Report
Students who receive a bachelor's degree in science or engineering (S&E) frequently find themselves on non-technical career paths, but according to a recent study, most of these graduates later report that their S&E education plays an important role at work. Nearly 73 percent of people whose highest level of education is an S&E bachelor's degree do not work in traditional S&E occupations. However, almost two-thirds of that group report that their current job is related to their degree. This finding suggests that there are benefits to additional state and university investment in S&E programs beyond filling jobs that have traditionally been considered part of the high-tech economy.
Mega Money Headed toward BioFuel R&D
The potential opportunity for bio-based fuels to supplement or supplant some of the nations fossil fuel addiction has enticed two entities with deep pockets - one public, one private - to separately offer $750 million to support research in the growing field. Working independently, both entities are planning to concentrate their investments in only 1-2 research institutions, creating instant anchors for growing localized clusters for the new industry.
On Aug. 2, the U.S. Department of Energy launched a competition for proposals to select two new bioenergy research centers as part of the Office of Science Genomics program. The winning centers will receive up to $125 million over a period of five years $25 million in the first year for start-up costs and up to $25 million per year for operations during the subsequent four years.
NBIA, NYSTAR Release Incubator Resources
There are a number of reasons why developing a business incubation program may be appropriate for your organization or community. Whether it is creating new jobs or developing and commercializing new technologies, business incubators can provide a variety of resources to help ensure that companies succeed. Two new handbooks document some of the best practices and successful business incubation models across the country.
Developing a Business Incubation Program
In Developing a Business Incubation Program: Insights and Advice for Communities, the National Business Incubation Association (NBIA) sheds light on ways to strengthen or expand business incubation programs. Because each incubator development project is different, a how-to book on the topic is not possible, NBIA states in a press release. Instead, author Kathleen Boyd spent more than a year interviewing experts and practitioners about the underlying assumptions, challenges and activities that are essential to the process.
Department of Commerce Addresses Need for New Ideas in Measuring Innovation
Commerce Secretary Carlos Gutierrez recently announced the creation of a 15-member advisory committee to examine methods used around the country to measure innovation. The panel, dubbed the Measuring Innovation in the 21st Century Economic Advisory Committee, will be composed of academia and private industry representatives and will convene this fall to identify new ways to assess regional innovation activity and the impact of innovation policies. An interim report is due in early 2007, with a final draft to follow by the end of next year.
In his announcement, Gutierrez singled out the need to expand the commonly understood definition of innovation to include not only new products and services, but also process improvements that boost business productivity.
Useful Stats: Academic R&D Expenditures by State, 2000-2004
In 2004, U.S. academic R&D expenditures totaled $42.9 billion up 7.21 percent from 2003, according to the National Science Foundation's Survey of Research and Development Expenditures at Universities and Colleges, FY 2004. The NSF report details R&D expenditures at public colleges and universities by geographic location, institution, science and engineering fields, and source of funding.
Using NSF data, SSTI has prepared a table presenting state rankings and figures for academic R&D from 2000 to 2004. Over the five-year period, North Dakota and South Dakota more than doubled their academic R&D expenditures, with an increase of 125.07 percent and 107.27 percent, respectively. In addition to the Dakotas, six other states increased academic R&D by more than 60 percent: New Hampshire, Vermont, West Virginia, Indiana, Tennessee and Mississippi.