SSTI Digest

Indiana University is launching a $10 million venture capital fund to invest in technology companies coming out of the university. Half of the fund will be dedicated to seed- and early-stage companies, while the other $5 million will support later-stage firms. Last month the university dedicated a new $10 million Innovation Center, which will work with the fund to support university-affiliated companies.  Read more at: http://newsinfo.iu.edu/news/page/normal/12745.html

Indiana University is launching a $10 million venture capital fund to invest in technology companies coming out of the university. Half of the fund will be dedicated to seed- and early-stage companies, while the other $5 million will support later-stage firms. Last month the university dedicated a new $10 million Innovation Center, which will work with the fund to support university-affiliated companies.  Read more at: http://newsinfo.iu.edu/news/page/normal/12745.html

Robert Fritzinger has been named the director of the new SUNY Fredonia Business Technology Incubator.

Ioanna Morfessis, a consultant from Phoenix, was unanimously appointed as the executive director of the Rhode Island Economic Development Corporation by the board of directors. Morfessis is expected to start work in January, and will serve as acting director until the Senate confirms her appointment.

Alan Rebar, senior associate vice president for research and executive director of Discovery Park, and Richard Cosier, dean and Leeds Professor at the Krannert School of Management, have been named to lead Purdue University’s Burton D. Morgan Center for Entrepreneurship.

While maintaining a $1 billion reserve over the next biennium, the 2009-11 budget signed into law by Gov. Mitch Daniels reduces by half funding for the state's 21st Century Research and Technology Fund and appropriates only a fraction of the requested $70 million for the Indiana Innovation Alliance, an initiative to grow the state's life science industries.

Indiana's 21st Century Research and Technology Fund administered by the Indiana Economic Development Corporation (IEDC) will receive $35 million over the next two years - half the amount appropriated last biennium. Supporting numerous entrepreneurial ventures over the last 10 years, IEDC uses the fund to offer loans and grants to companies bringing new technologies to market, to match SBIR grants, and to create University Centers of Excellence. Additionally, no funding was included for IEDC's High Growth Business Incentive Fund, which received $3 million last biennium.

The Technology Development Grant Program, which supports the creation and expansion of technology parks, will receive $3.8 million over the biennium, $400,000 less than last biennium.

J. Mike Books is leaving his post with the Indiana Health Industry Forum to become the first economic development director for the city of Columbia, Missouri. He also will serve as president of the Regional Economic Development Inc. Brooks will assume his new responsibilities on July 15.

Agriculture Secretary Tom Vilsack announced the appointment of Judith Canales as Administrator for Rural Business and Cooperative programs in USDA's Rural Development agency.

Donald Cardon, who has been serving as director of the Arizona Department of Housing since March, was named director of the Arizona Department of Commerce.

Karl Fooks, a past managing director for J.P. Morgan & Co. in Asia, is the new president of the Hawaii Strategic Development Corporation. Fooks replaces John Chock who retired last year.

The U.S. Senate confirmed by unanimous consent President Barack Obama's nomination of Karen Gordon Mills as the 23rd Administrator of the U.S. Small Business Administration.

The following overview is a synopsis of select recent announcements from research parks across the nation, including groundbreakings and development plans to support vibrant regional economies based on science, technology and innovation. 

Pennsylvania Gov.

During his presentation of the fiscal year 2009-11 budget last week, Gov. Mitch Daniels said the state's weakening economy will require the suspension of funds for some initiatives supported by his administration. For the TBED community, the governor's proposal delays funds for research aimed at building the state's life sciences portfolio, including elimination of a $20 million Life Sciences Fund at the Indiana School of Medicine and Purdue University and $3 million for the High Growth Business Incentive Fund to encourage high-wage companies to locate or expand in the state.

Tony Armstrong, Indiana University executive director for engagement, has been chosen as the Indiana University Research and Technology Corporations new president and CEO. Jeff Costantine will retire this fiscal year as president of the Nashville Technology Council. The board of directors has begun the search for a new president. Joseph G. Danek stepped down as executive director of the EPSCoR/IDeA Foundation. He will continue work at the foundation as its senior advisor and will also remain senior vice president of the Implementation Group, a Washington consulting firm. James B. Hoehn, a senior associate at the foundation, became its executive director. 

Offering customized workspace such as wet laboratories and specialized research equipment is one of the many benefits provided by technology-focused incubators. Access to university research, business mentoring and administrative support services often accompany the reduced rent facilities with the goal of growing technology companies into successful, self-sustaining enterprises. Following are select announcements of recently launched incubators and partnerships from across the nation.    GateWay Community College recently received a recommendation from the Phoenix Parks, Education, Bioscience and Sustainability subcommittee of the Phoenix City Council to enter into an intergovernmental agreement with the college to build a bioscience incubator laboratory with wet lab space, the Arizona Republic reports. The wet lab would be a minimum of 5,000 sq. ft. and located near the Phoenix Biomedical Campus.  

The Beaver County (Pa.) CO-OP announced it will change its name to StartingGate. The incubator will continue to assist entrepreneurs and new business start-ups and help expand existing businesses.

Joe Dedman was chosen as the first executive director of the Southeast Indiana WIRED.

Brian DuBoff was named the director of Maryland's southern region Small Business Development Center, which is hosted by the College of Southern Maryland.

Barbara Goodman has joined the Illinois Biotechnology Industry Organization as its executive director.

Mark Long has stepped down as the CEO of the Indiana University Research and Technology Corp.