SSTI Digest

The available pool of equity capital grew substantially last Thursday as the board of trustees for the $31.7 billion Alaska Permanent Fund approved the placement of 8 percent of the fund's value into alternative assets, such as venture capital funds and hedge funds. The Associated Press reports the current value of all alternative investments held by the Permanent Fund totals $292 million. With the new authorization target, equity capital could comprise more than $2.5 billion at the fund's present value. The change will happen gradually, however, as the board increased the mandate to Crestline, the fund’s current absolute return manager, from $250 million to $500 million. The board also increased the allocation for absolute return strategies from 1 percent to 4 percent. The target asset allocation to private equity also is at 4 percent. Moving more of the public fund into riskier placements is coupled with more secrecy as the board also approved regulations to keep more of the fund's activities confidential. Earlier this year, the state legislature passed House Bill 215, which…

While Indiana has demonstrated strong competitiveness in industry and university R&D and performed well in entrepreneurial programs, the state lags most of its regional competitors and many of the 50 states in terms of production of new innovation workers and educational attainment, says a new report from Techpoint and the Indiana Chamber of Commerce. The report, Indiana Technology Profile, benchmarks the state's progress against five peer states and all 50 states using 23 metrics in four broad categories, which include education and workforce, dynamism, digital infrastructure, and research and creativity. Results indicate that despite good effort and thoughtful initiatives, Indiana's progress has been disappointing, and there are clear challenges ahead, the report states. For nine metrics, Indiana improved in rank from 2001 to 2005. However, for the remaining 14, it slipped relative to other U.S. states or did not move at all, according to the report. The lack of educational attainment is particularly disconcerting, the report says, given the strong presence of higher…

Last week, Congress passed HR 2862, the fiscal year 2006 appropriations bill for State, Science, Justice, and Commerce. SSTI covered the federal budget request in the Feb. 14 issue of the Digest. Overall, Congress proved more financially supportive of the programs and agencies most utilized by state and regional tech-based programs than the Administration's FY06 request. Following are highlights from the selected bill, which now goes to the president for his anticipated signature. Changes from FY05 appropriations are noted in parentheses. Department of Commerce The Economic Development Administration - $284 million (no change) to provide grants for economic development assistance. Within the Technology Administration, the National Institute of Standards and Technology (NIST) received $761.8 million (a $62.6 million increase over the FY05 appropriations, according to the American Institute of Physics Bulletin). The Office of Technology Policy received $6 million. NIST Advanced Technology Program (ATP) No funding was requested for…

The Association of University Technology Managers (AUTM) has released the 92-page summary report for its 14th annual survey of university licensing, revealing steady growth in the field. AUTM U.S. Licensing Survey: FY 2004 provides quantitative information about licensing activities at universities, hospitals and research institutions across North America. With a 25 percent increase above 2003 figures in the number of starts-ups formed as a result of academic research, the 2004 survey reverses declines posted in each of the two previous surveys. Also, at least 635 new products were introduced to the market during the year, the survey found. SSTI has prepared a summary table by state and province of selected data from the 2004 survey, including: total research expenditures, number of licenses executed, research funding relating to licenses, total licensing income, number of licenses yielding income, invention disclosures received, patent applications filed, U.S. patents issued and number of licensed technology that became available in 2004. Users should note because 12 survey respondents…

Robert Cresanti was nominated by President Bush to become the next undersecretary of Commerce for Technology. Jim Denn was named deputy executive director of the New York State Office of Science, Technology and Academic Research (NYSTAR). Peter Gold was appointed associate provost for economic initiatives at Rutgers-Camden. Eric Griego was appointed assistant secretary of economic development for the New Mexico Economic Development Department. Hunt Lambert was selected as the new associate vice president for economic development in the Colorado State University system. Jim Pennekamp will be the executive director of Southern Illinois University Edwardsville's research and business park, effective Dec. 1. John Reardon will be new Charles County Economic Development Department chief in Maryland, effective in December. Steven Weathers is the new president and CEO of the Regional Growth Partnership in Toledo, Ohio.

Robert Cresanti was nominated by President Bush to become the next undersecretary of Commerce for Technology.

Jim Denn was named deputy executive director of the New York State Office of Science, Technology and Academic Research (NYSTAR).

Peter Gold was appointed associate provost for economic initiatives at Rutgers-Camden.

Eric Griego was appointed assistant secretary of economic development for the New Mexico Economic Development Department.

Hunt Lambert was selected as the new associate vice president for economic development in the Colorado State University system.

Jim Pennekamp will be the executive director of Southern Illinois University Edwardsville's research and business park, effective Dec. 1.

John Reardon will be new Charles County Economic Development Department chief in Maryland, effective in December.