SSTI Digest

The second installment of SSTI's Tech Talkin' Govs' series includes excerpts from speeches delivered in Arkansas, Connecticut, Idaho, Kansas, New Hampshire, Virginia, Washington, and Wyoming. Our first installment was in the Jan. 5 Digest. ArkansasGov. Mike Beebe, State of the State Address, Jan. 11, 2011"I want to tie funding for higher-education institutions more closely to coursework completion and graduation rates, not simply to enrollment. These tax dollars must produce college graduates, not just fill up seats. We can and must double the number of college graduates in Arkansas by 2025 if we are to stay competitive. This is a lofty goal aimed at the future, but we must begin implementing it today." ConnecticutGov. Dan Malloy, Inaugural Address, Jan. 5, 2011"We will put in place an economic development strategy that makes sense for the 21st century economy, aggressively competing with other states and nations for lucrative biotech, nanotech, fuel cell technology and stem cell research jobs. "We will join Connecticut to the Energy Economy, attracting companies that reduce our…

Connecticut has certified its first fund manager under the state's revised Insurance Reinvestment Tax Credit program, which has now expanded beyond its focus on insurance-related companies to support early stage and high-tech firms. Advantage Capital Partners has raised $72 million to invest under the revamped program. Fund managers may invest in any Connecticut-based business. One quarter of the investments must support green technology firms, and three percent must go toward pre-seed stage projects. Read Governor Joni Rell's press release ...

TBED People Walter Bumphus has been named the next president and CEO of the American Association of Community Colleges. Bumphus currently serves as a professor in the Community College Leadership Program and chair of the Educational Administration Department at the University of Texas at Austin. Bumphus will begin his tenure with AACC in January. Deborah Clayton resigned as the commissioner of the Kentucky Department of Commercialization and Innovation. She has accepted a position at the Argonne National Laboratory in Chicago. Warren Nash, deputy commissioner of the same department, also has resigned. Kansas Governor-elect Sam Brownback appointed State Rep. Pat George to his cabinet as secretary of the Department of Commerce. George is expected to start after Brownback is sworn in on Jan. 10 and the Senate confirms his appointment. Brian Hannafin, senior vice president of the Center for Economic Growth in Albany, NY is joining M+W Group as a senior executive team member for business development. The Connecticut Venture Group has appointed Elizabeth (Liddy) Karter as its new executive director beginning in January. Karter is an experienced…

The Small Business Administration (SBA) announced the selection of 10 regional economic development and job creation efforts through a new pilot program, Innovative Economies, that supports small business participation in regional economic clusters. SBA's funding is designed to expand the opportunities and the role small businesses play in these regional collaborations. The awardees were selected from among 173 applicants. Awards went to organizations in: Alabama, California, Connecticut, Illinois, Michigan, Minnesota, Mississippi, North Carolina, Ohio and South Carolina. Read the full release

Specialized and high-tech incubators provide crucial services and resources to promote and enhance Commercialization & Entrepreneurship, one of the six thematic tracks of this year's annual conference. Three sessions tied to this theme will be explored during SSTI's annual conference, focusing on direct lessons from successful and proven TBED programs, regional innovation clustering, and more. They include: Distributed, Non-University Models for Commercializing New Technologies Technology Entrepreneurship: Direct Contact Required Sustaining Entrepreneur-in-Residence & Mentoring Programs Announcements of new incubators designed to hatch ideas, speed commercialization of university-based inventions, and grow technology-focused companies across the nation are detailed below. Connecticut Gov. Jodi Rell announced last month a new tech business incubation initiative at the University of Connecticut (UConn) Health Center. The UConn Health Center incubator will focus on attracting participants from industry sectors including bioscience, medical devices, bio materials, and other science-, technology- and math-based ventures. During the first year, funding…

"In order for educational programming in science and technology to be transformative, it must be comprehensive, sustained, and authentic." - Susan Palisano Click here to listen to SSTI's Interview with Susan Palisano of the Connecticut Center for Advanced Technology (CCAT) SSTI has an effective new learning tool for TBED policymakers and practitioners seeking guidance in approaches to building and sustaining tech-based economies. Through exclusive interviews with Excellence in TBED Award recipients, find out first-hand how these award-winning initiatives successfully responded to a critical need by applying innovative approaches to generate substantial economic gains for their region. 2009 Winner for the Enhancing the Science & Technology Workforce category CCAT's Education Initiative has established a core philosophy for the development of K-12 programs that emphasizes experiential, authentic learning and focuses on meeting the demands of the digital workplace by exposing students and teachers to real-world high technology applications. Over 1,200 students from both Connecticut and across the country have…

A jobs bill that garnered near unanimous support in both legislative chambers was signed into law by Gov. Jodi Rell last week. The bill includes pre-seed funding for innovative ideas, a program authorizing tax credits for insurers investing in many different types of businesses, including technology startups, student loan reimbursements to retain green collar workers, a small business loan pool, and a green manufacturing pilot program. The enacted jobs bill includes several components introduced by Gov. Rell earlier this year as part of an economic recovery package (See the Feb. 10, 2010 issue of the Digest). Specifically, the new legislation: Authorizes $5 million in bonds for Connecticut Innovations, Inc. to provide capital and support services to businesses developing new concepts; Authorizes personal income tax credits for angel investors who invest at least $100,000 in Connecticut start-up businesses in specified sectors. The credit equals 25 percent of the cash investment, up to $250,000; Expands the focus of Connecticut's Insurance Reinvestment Tax Credit Program so investors may receive credits for a broader array of investments. Qualifying funds must invest…

Jeff Blodgett, Vice President of Research, at the Connecticut Economic Resource Center, Inc. is retiring. The University of Virginia has named W. Mark Crowell, vice president for business development at The Scripps Research Institute, to the newly created position of executive director and associate vice president for innovation partnerships and commercialization. Maryland Gov. Martin O'Malley will receive the BIO Governor of the Year Award this week at the 2010 BIO International Convention. Guido Silvestri will serve as chief of the Division of Microbiology and Immunology at Emory University's Yerkes National Primate Research Center as a Georgia Research Alliance Eminent Scholar.

The fourth installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Alaska, Connecticut, Maryland, Michigan, Nevada, and Oklahoma. The first three installments are available in the Jan 13, Jan. 20 and Jan. 27 Digests. Alaska Gov. Sean Parnell, State of the State Address, Jan. 20, 2010 "We will create even more jobs by funding construction of two new statewide buildings, the Anchorage crime lab I mentioned earlier and we will construct the Life Sciences building at [the University of Alaska, Fairbanks]. … "… Where energy is concerned, we will continue reducing dependency on diesel across Alaska. And we are putting $25 million toward more in-state renewable energy projects. … "… With the Governor's Performance Scholarship proposal, all Alaskan high school students can earn tuition for an in-state university or job-training program. They must complete a more rigorous curriculum than what's now required to graduate from high school. Four years each of math, science, and English and three years of social studies. But for students who take this curriculum, better…

Gov. Jodi Rell last week unveiled her FY11 midterm budget adjustments, eliminating or reducing funding for several TBED initiatives in the second year of the biennium. At the same time, the governor proposed an economic recovery package that includes a lending program for small businesses, a student loan forgiveness program to retain green collar workers, and a sales tax exemption for green energy industries. The governor's proposal includes the following eliminations and reductions in the second year of the biennium within the Department of Economic and Community Development (DCED): Eliminate FY11 funding for CCAT Manufacturing Supply Chain ($400,000). Eliminate FY11 funding for Hydrogen/Fuel Cell Economy ($237,500). Eliminate FY11 funding for Entrepreneurial Centers ($135,375). Eliminate FY11 funding for CCAT Energy Application Research ($100,000). Reduce FY11 funding for CONNSTEP ($40,000 decrease).   In total, the adjustments decrease funding for DECD by $4.1 million in the coming year. Within the Office of Workforce Competitiveness, the governor recommends a $60,000 reduction for the Nanotechnology Study and a $37,500 reduction for…

Most impact models look at broad measures, sometimes including multiplier estimates for indirect effects. Connecticut Innovations (CI) takes a different approach, but one that might be expected from the venerable equity investment program – the direct capital return to its initial stakeholder, the state. Bottom line: the program pays for itself, according to recent impact study performed by Connecticut’s Department of Economic and Community Development.. In fact, it has paid nearly $2 for every dollar invested between 1995 and 2008. The pool of investment capital available to CI originated from the sale of state-issued bonds worth $106 million. During the study period, CI made investments in 84 portfolio companies, investments that resulted in $209 million of net revenue to the state. In sum, the results of the 14-year study period reveal $1.97 of state revenue for every state dollar invested. Looking at the impact on an annual basis, the study also calculated an average of 1,610 jobs and $256 million in GDP added to the economy each year. The full study, which includes an overview of Connecticut Innovation’s funding programs in…

High-tech manufacturers in Connecticut seeking to innovate and diversify their processes are eligible for grants of up to $25,000 each under a new pilot program announced last week by Gov. Jodi Rell. The goal of the Connecticut Small Business Innovation and Diversification Program is to help the state's small businesses develop, produce and commercialize new products while streamlining delivery of products and services, according to the governor's press office. Matthew Nemerson, president and chief executive officer of the Connecticut Technology Council, said in a New Haven Register article that the money will be helpful in the innovation process for companies that have not yet received seed money, but are trying to develop a model or prototype or advance research. The program, administered through the Small Business Innovation Research Office at Connecticut Innovations, is open to Connecticut-based companies with fewer than 500 employees and requires matching funds. A press release is available from the governor's office at:  http://www.ct.gov/governorrell/cwp/view.asp?A=3675&Q=452840.