SSTI Digest

Virginia's Center for Innovative Technology (CIT) announced on Monday a new investment initiative to help close the capital gap for the state's early-stage technology businesses. CIT, a state-chartered nonprofit corporation, will launch the Growth Acceleration Program (GAP) on Dec. 15, 2003, to address the funding void created by a recent shortfall of angel capital. CIT's GAP will invest up to $100,000 in early-stage technology companies that successfully complete a seven-step investment process. All GAP investments will take the form of convertible notes with outstanding principal and interest converting to a CIT equity position in the firm at the time of a qualifying financing event. CIT may attach warrants to GAP investments as a function of loan term, interest rate and payment schedule. Under the program guidelines, any Virginia-based company involved in communications, biotechnology, information technology, nanotechnology, materials or sensors would be eligible for GAP funding. Eligible companies must have a high-potential prospect for commercialization and follow-on funding and be able…

To expand on the state's Centers of Innovation strategy, Gov. Sonny Perdue announced in November the creation of the Middle Georgia Aerospace Innovation Center (MAIC). The center is comprised of numerous partners, including the Georgia Department of Industry, Trade & Tourism's Office of Science and Technology, the University System of Georgia, private institutions and companies, and the Warner Robins Air Logistics Center (ALC). Researchers from Georgia Tech, Mercer University and Macon State College will work directly with the ALC and industry partners to develop new technologies to transform lifecycle support for aircraft. All technologies developed in MAIC will be evaluated and potentially implemented by its partner organizations. These technologies eventually will be commercialized and licensed by the state Board of Regents to corporate partners including Boeing and Lockheed-Martin. As aircraft become more complex and expensive, the challenge of extending their life cycle grows. The combined talents of academic, military and commercial organizations in Middle Georgia will develop solutions…

With $90 million already secured in state and private support, a 400-acre automotive research campus to be developed by Clemson University promises to make South Carolina a hub of the nation's automotive and motorsports industry. The Clemson University International Center for Automotive Research will house a new graduate engineering education center, distinctive research and testing facilities, and private industry research and development operations that will help support the region's growing automotive industry cluster. The first non-academic tenant on campus, BMW Manufacturing of South Carolina, plans to occupy an Information Technology Research Center to be built adjacent to Clemson's graduate school. The 84,000-square-foot center will support research focusing on improving automotive software systems and software/hardware compatibility for BMW products. The $15 million facility will be owned by Clemson and leased by BMW. State funding to build the center is part of the state incentive package offered to BMW last year when the company announced an additional investment of $400 million…

Federal laboratories' ability to contribute to local economic development efforts may depend most on the quality of technical and business assistance they can offer, suggests a new report issued by the U.S. Department of Commerce's Office of Technology Policy (OTP). The report, Partners on a Mission: Federal Laboratory Practices Contributing to Economic Development, documents nine programs that go beyond immediate laboratory missions to provide communities with greater access to lab technologies and facilities. The report was developed with information from interviews with labs interested in highlighting their local economic development efforts. The nine cases included in the report were selected as representative of other U.S. laboratories and programs conducting similar activities. Numerous issues affecting the labs' ability to actively support economic development and related activities surfaced among the nine that were visited: Representatives in some federal labs would like policymakers to clarify their intent, regarding federal lab participation in technical and business assistance and…

Steve Bryant has been named the project director for the Bloomington Life Sciences Partnership in Indiana. Patrick Rea recently was selected as administrator for the Small Business Administration's six-state region involving Indiana, Illinois, Michigan, Minnesota, Ohio and Wisconsin. The Idaho Economic Development Association has named Jan Rogers as new president. The Grand Forks Region Economic Development Corp. has named Klaus Thiessen as its new president. The Association of American Universities has selected Patrick White as the new director of federal relations.

Steve Bryant has been named the project director for the Bloomington Life Sciences Partnership in Indiana.

Patrick Rea recently was selected as administrator for the Small Business Administration's six-state region involving Indiana, Illinois, Michigan, Minnesota, Ohio and Wisconsin.

The Idaho Economic Development Association has named Jan Rogers as new president.

The Grand Forks Region Economic Development Corp. has named Klaus Thiessen as its new president.

The Association of American Universities has selected Patrick White as the new director of federal relations.

240 events already posted on SSTI's web calendar Although only a few events remain for 2003, SSTI's web calendar of science and technology (S&T) items has brief descriptions and contact links for 240 regional or national conferences, meetings and workshops planned for 2004. The first and foremost one to put on your schedule will be SSTI's 8th annual conference, which will be held Oct. 13-15, 2004, in Philadelphia. Other items on SSTI's calendar range from venture capital forums and workshops on how to secure federal technology funding for programs such as the Small Business Innovation Research program to professional development opportunities for tech-based economic developers. Annual meetings for many associations involved with tech-based economic development also are included, as are several research and policy symposia on issues encouraging regional innovation and entrepreneurship. The calendar is available at http://www.ssti.org/calendar.htm. Suggestions for additional events for inclusion should be directed to calendar@ssti.org. Note: events…

The Modernization Forum reported on Thursday that Congressional appropriators have agreed to gut the Manufacturing Extension Partnership (MEP), the main federal program serving America’s small manufacturers. The move came Wednesday night, despite the pleas of more than 300 members of Congress who supported $110 million in letters to the CJS Subcommittee. The U.S. has lost 2.5 million manufacturing jobs since the beginning of 2001. Congress will provide only $39.6 million for MEP this year, a 63 percent cut from the current funding level. Last year, Congress provided MEP with $106.6 million. The cut to MEP came during last-minute wrangling over a final Omnibus Appropriations bill that would provide about $700 billion for up to 12 federal departments. As of press time, the Omnibus bill had not been approved by Congress. Funding levels were unknown for the Advanced Technology Program, Economic Development Administration, and other programs of interest to the tech-based economic development community. MEP assists small manufacturers and helps boost their productivity, sales, employment and investment…