SSTI Digest

Innovation and tech entrepreneurship take money — different amounts at different stages with different strings. As a result, increasing access to capital is an objective of many state and local technology-based economic development programs.

“States fill a critical gap in available finance for many of the nation’s start-ups," said Sue Strommer, chief executive officer of the National Association of Seed and Venture Funds (NASVF). Discovering just how many programs across the country are working toward filling the financial needs of tech-based innovation is the goal of a current NASVF project to survey programs. All state equity-related financing programs are encouraged to participate before March 15, 2006.

For the second year in a row, Florida cities dominate the Milken Institute's top 200 largest U.S. metropolitan areas in the ability to create and sustain jobs. The top performer, Palm Bay-Melbourne-Titusville, moved up 31 places from last year and is followed by last year's top scorer, Cape Coral-Fort Myers, and Naples-Marco Island, respectively.

Located near the John F. Kennedy Space Center, the Palm Bay-Melbourne-Titusville area has a diversified economy with many aerospace and defense-related industries, the report states. The area's economy has expanded at a brisk pace over the past two years, with job growth rising to 5.3 percent in 2004.

To further accommodate and cater to fledgling biotechnology, high-tech and start-up companies, the University of Pennsylvania Science Center in Philadelphia recently announced plans to add 1.85 million sq. ft. through the construction of six new buildings with retail and parking components.

According to media reports, the projects are part of a master plan titled, "Transforming the University Science Center into a Complete Venture Ecosystem." The master plan will roll out in five phases, with the first phase scheduled for July 2006 and consisting of a 150,000-square-foot building to house laboratory and retail space. The next two phases are slated for completion in 2010.

On Friday, the National Science Foundation (NSF) released Science & Engineering Indicators 2006, an update for the nation's most significant, quantitative and neutral assessment of the health of the U.S. and international science and engineering communities. And, according to America's Pressing Challenge ­ Building a Stronger Foundation, a companion report to Indicators released by the National Science Board, the prognosis for the U.S. should cause concern.

Calling for "drastic changes" for America's K-12 science and mathematics classrooms, the National Science Board asserts, "Our Nation risks raising generations of students and citizens who do not know how to think critically and make informed decisions based on technical and scientific information."

National R&D spending increased by $10.1 billion in fiscal year 2003, according to a recent National Science Foundation (NSF) InfoBrief. The increase followed an $8.1 billion decrease in FY 2002 expenditures over the FY 2001 level, the data show.

The NSF report, Increase in US Industrial R&D Expenditures Reported for 2003 Makes Up for Earlier Declines, breaks down R&D expenditures into three technology areas: biotechnology, materials synthesis and processing, and software development. According to the report, national tech-based R&D expenditures for FY03 totaled $14.2 billion for biotechnology, $15.9 billion for materials synthesis and processing, and $27.1 billion for software development.

Sometimes, the economic advantages of consolidating state and local initiatives addressing different elements of building tech-based economies outweighs any potential dilution of specific efforts. Other times, the addition of an entirely new entity is required to provide concentrated focus on specific needs or activities. Here are a few of the most recent examples of the realignment of the TBED community:

The Utah Information Technology Association (UITA) and the Utah Life Science Association are merging in March to become the Utah Technology Council. UITA President and Chief Executive Officer Richard Nelson will provide leadership for the new council. A new Life Sciences director position will be added to the staff.

The National Governors Association (NGA) seeks a senior policy analyst with substantial expertise in technology-based economic development and the role state governments can play in promoting it. The job involves assisting governors promote innovation by helping their advisors target, govern and measure the impact of investments in emerging technologies; improve the technology transfer and commercialization process; identify and assist potential gazelles; encourage inventive entrepreneurship; and promote regional cluster strategies. Such help is provided in a variety of written and oral forms, ranging from memos and issue briefs to on-site consulting. Qualified candidates will have an advanced degree in a related area, excellent communications skills, and strong project development and management skills. For the full job description and application information, go to http://www.ssti.org/posting.htm.

George Bald is returning to serve as Commissioner of the New Hampshire Department of Resources and Economic Development. Bald served in the position from 1998-2004.

Dr. R. Kelly Dawe was named the inaugural Georgia Research Alliance (GRA) Distinguished Investigator, a new level of investment made by GRA.

Douglas Foy, Secretary for Commonwealth Development for Massachusetts, announced his resignation effective in March.

George Bald is returning to serve as Commissioner of the New Hampshire Department of Resources and Economic Development. Bald served in the position from 1998-2004.

Dr. R. Kelly Dawe was named the inaugural Georgia Research Alliance (GRA) Distinguished Investigator, a new level of investment made by GRA.

Douglas Foy, Secretary for Commonwealth Development for Massachusetts, announced his resignation effective in March.

Aaron Greenfield will serve as the new director of the Anne Arundel County Economic Development Corp. in Maryland.