SSTI Digest

Former New Mexico Gov. Garrey Carruthers (1987-1990) has been named vice provost for economic development at New Mexico State University.

New Mexico Firms Would Receive $30M in Venture Funding New Mexico might be close to closing on two venture deals worth a combined $30 million, the Albuquerque Journal recently reported. The New Mexico State Investment Council (SIC) gave preliminary approval of the $30 million to two Santa Fe-based firms early last month. Flywheel Ventures, one of the two companies in consideration for the money, was said to be raising its own $30 million for investment in seed and early-stage technology companies. Rio Grande Venture Partners, the other beneficiary, would indirectly contribute to tech firms through a $100 million fund it hopes to close this spring. The New Mexico investment program requires that both companies provide match funding and do business in the state, either whole or in part. The state has committed roughly $168 million to about 20 venture capital funds over the last decade, with $70 million in commitments made since 2003, the Albuquerque Journal states. The $168 million comes from a pool of $200 million for venture capital investment, drawn from New Mexico's $3.5 billion…

Deborah Fleischaker has been appointed deputy secretary for the New Mexico Department of Economic Development.

The Association of University Research Parks has recognized Sandia National Laboratories for the 2003 Excellence in Technology Transfer Award. Over the past five years, Sandia has participated in 183 new cooperative research and development agreements with industry partners to jointly develop technology that is incorporated into commercial products. In addition, Sandia has had 1,472 technical advance disclosures, 639 new non-federal entity agreements to assist partners in addressing specific technical challenges, and 415 commercial licenses that have transferred technologies developed at Sandia to the private sector.

Randy Burge has announced his resignation as director of the New Mexico Department of Economic Development's Office of Science and Technology. Mike Orshan will serve as acting director beginning Sept. 29.

Larry Willard, president of the University of New Mexico Board of Regents, is leaving the position to become chairman of the New Mexico Economic Development Corp.

With a combined annual research budget totaling $4.8 billion, New Mexico's 12 largest research facilities signed a Memorandum of Agreement on May 30 to help turn intellectual property into jobs for New Mexicans. Members of the newly formed New Mexico Technology Research Corridor (TRC) include: Air Force Research Laboratory's Directed Energy and Space Vehicles Directorates; Los Alamos National Laboratory, a government-operated facility that contributes to meeting the nation's nuclear and security needs; National Center for Genome Resources, a Santa Fe-based nonprofit research organization involved in bioinformatics. New Mexico State University; New Mexico Tech, a state engineering university; Sandia National Laboratories, a government-owned/contractor operated facility involved with national security research and development projects; Santa Fe Institute, a private, nonprofit, multidisciplinary research and education center; The MIND Institute, an Albuquerque-based partnership that explores functional brain imaging; University of New Mexico and…

Noreen Scott, former economic development division director for the New Mexico Department of Economic Development, is the executive director for the Rio Rancho Economic Development Corp.

As states and communities consider how to build a tech-based economy, the prospects of centering efforts around hydrogen fuel cell technology has become an increasingly appealing option. Fuel cells may have huge implications for the future, and the technology already is the focus of some states' multi-billion economic development strategies. California, Connecticut, Massachusetts, Michigan, New York and Ohio offer a few examples (see May 17, 2002 issue of the Digest). In all, approximately 20 states are believed to be in various stages of hydrogen development. Among those states is New Mexico. According to Albuquerque Journal reports, Governor Bill Richardson is looking to place New Mexico at the fore of a hydrogen-based economy. Leading the charge is HyTeP, or Hydrogen Technology Partnership, an informal network of New Mexico people and organizations working together to pursue development of a hydrogen-based economy in New Mexico. A Los Alamos National Laboratory executive is on loan to the New Mexico Economic Development Department to coordinate HyTeP. A workshop held last week…

Gov. Bill Richardson has appointed his chief of staff, David Harris, to serve as executive director of the New Mexico Finance Authority.

Increased funding for equity investments and a new university-industry R&D partnership program are among the pieces of legislation New Mexico Governor Bill Richardson signed this week, greatly expanding New Mexico's portfolio of programs to grow a tech-based economy. Most of the initiatives were included in the economic development agenda Gov. Richardson outlined during his first State of the State address in January. They are: As much as $300 million from the state Severance Tax Permanent Fund may be invested as equity in New Mexico venture capital funds and New Mexico business. HB 918 raises the maximum cap to 6 percent of the Fund's market value that is available for equity financing. A Technology Enhancement Fund is created in House Bill 391 to provide matching funds to state research universities to support collaborative applied research done in partnership with corporations or non-profit organizations. Supported research must lead toward the creation of new products and production processes in the fields of agriculture, biotechnology, biomedicine energy, materials…

New and re-elected Governors gave inaugural addresses in Alabama, Oklahoma, Pennsylvania, South Dakota, Tennessee and Texas during the past 10 days. Additionally, State of the State addresses were made in Hawaii, Montana, Nevada, New Mexico, Ohio, South Carolina, South Dakota and Utah. Building tech-based economies remains a high priority for many Governors, as evidenced in the following: Nevada Governor Kenny Guinn, State of the State Address, January 20, 2003 "I want to see higher education in Nevada become a center for research and new partnerships between business and academia. A key step to enhance higher education and economic development will be the new Science, Engineering and Technology Center at UNLV. This project will be funded with $47 million in public dollars, and $25 million in private funds; this is truly a wonderful partnership. This project includes the short-term benefit of new construction jobs, and the long-term benefit of an expanded academic facility in science, engineering and technology: the wave of the future." New Mexico Governor Bill…