SSTI Digest

While technological advancements occur every day, truly revolutionary technologies over the past three hundred years — those that promise so many diverse applications that they result in disruption and restructuring of several different industries — can be counted on one hand. The field of nanotechnology, with major implications for nearly every industrial sector, appears to be one of those once-in-a-lifetime breakthroughs. 



At this point, only a few states are preparing on a large scale to capitalize on the research and resulting economic growth of this exciting field. A $350 million research institute taking shape in southern California at the universities of California at Los Angeles and Santa Barbara is one of the most aggressive investments to date. 

The President has nominated Arden Bement, Jr. to be Director of the National Institute of Standards and Technology at the Department of Commerce. Bement has been at Purdue University since 1993, where he is the head of the School of Nuclear Engineering. Bement is Chairman of the Advanced Technology Program's Advisory Committee, has served on the National Science Board, and was active with the Cleveland Advanced Manufacturing Program (CAMP), an Edison Technology Center. 



From 1980 to 1993, he was with TRW, Inc., where he was Vice President for Technical Resources from 1980 to 1988 and then Vice President for Science and Technology from 1988 to 1993. A graduate of the Colorado School of Mines, Bement has received a Master's degree from the University of Idaho and a Ph.D. from the University of Michigan. 



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With the completion of the 2001 edition of the Maryland Innovation and Technology Index, the Maryland Technology Development Corporation (TEDCO) is able to show state policymakers and tech community leaders graphically and statistically the state’s progress since the first Index was prepared two years ago. 

The Air Force Dual Use Science & Technology (AF DUS&T) Program is part of a congressionally mandated, tri-service program to cost-share research projects with industry for the development of a technology that has both military utility and sufficient commercial potential to support a viable industrial base. A main objective of the AF DUS&T Program is to obtain for defense procurements the economies of scale, accelerated product improvements, and increased sustainability inherent in the commercial marketplace. 

What impact do state taxes have on entrepreneurship? 

The Small Business Survival Committee (SBSC) has released its sixth annual rankings of the states according to their respective policy climates for small business and entrepreneurship. In the Small Business Survival Index 2001, the D.C.-based organization combines the following 17 factors to develop the overall rankings: personal income taxes, capital gains taxes, corporate income taxes, property taxes, sales taxes, estate taxes, unemployment taxes, health insurance taxes, electricity costs, workers' compensation costs, crime rates, right-to-work status, number of government employees, tax limitation status, Internet taxes, gas taxes, and state minimum wages. The rankings received a fair amount of attention in the media. 

As a national security laboratory operated for the U.S. Department of Energy by the Sandia Corporation, a Lockheed Martin company, Sandia’s science and technology competencies are leveraged to support several missions that are synergistic to its primary mission — to ensure the safety, security, and reliability of the nation’s nuclear weapons stockpile in the absence of underground testing, indefinitely. Indeed, Sandia designs all non-nuclear components for the nation’s nuclear weapons and works on assignments that respond to national security threats of both military and economic nature. Sandia's strengths are demonstrated in the following disciplines: 

The Appalachian Regional Commission (ARC), the Tennessee Valley Authority, and the National Business Incubation Association are sponsoring a conference Oct. 21–23 in Chattanooga, Tennessee, to focus on the importance of business incubation to rural economic development and to share best practices by successful incubators across the nation. 



More than 75 business incubators in Appalachia are helping rural communities create new companies, find innovative ways to take products to new markets, and increase the odds for new business success. The conference will seek to encourage the creation of more business incubators in the Appalachian Region. 

As with last year's conference, registration has been brisk for SSTI's 5th annual conference, Creating Opportunity: Tools for Building Tech-based Economies. To make sure the event is the quality and caliber expected of an SSTI event, we anticipate once again the event will sell out — possibly before the September 5 deadline for early registration. SSTI encourages interested parties to complete the registration form on their brochure or on the website at their earliest convenience. Please note, registrations are confirmed only after payment is received. 



Registration for the annual pre-conference session, Growing Your Economy: An Intro to Tech-based Economic Development, is now closed to all but SSTI sponsors. Parties interested in a hands-on intro to tech-based economic development in practice are encouraged to sign up for the pre-conference Tech City tour. 

Economic development in Oregon recently has been given new life, thanks to the approval of $222 million in bills by Governor John Kitzhaber. The legislation, including $72 million for high-tech infrastructure and research over the next two years, is expected to increase public investment in biotechnology, engineering and other research.

The Greater Cincinnati Regional Technology Initiative has released revving up the tech engine, a strategic plan with more than 30 recommendations to improve Cincinnati's position in a tech-based economy. Giving themselves just 100 days to complete the plan when they started in Spring, the project was developed through six "Accelerator Teams" involving more than 200 volunteers from the three-state metro area. The teams looked at: start-up capital and resources; research and commercialization; workforce development; e-commerce readiness; Greater Cincinnati’s image as a high-tech player; and public policy.



The Accelerator Teams also drew on a regional "Angel Board" made up of seasoned community business leaders for resources and guidance.



Major recommendations include:

The Advanced Technology Program (ATP) bridges the gap between the research lab and the marketplace, stimulating prosperity through innovation. Through partnerships with the private sector, ATP's early stage investment is accelerating the development of innovative technologies that promise significant commercial payoffs. ATP exhibits four primary strengths:



Early Financial Support. ATP provides cost-share funding in the critical early stages of R&D, including a maximum of $2 million for up to three years in direct costs for a single company and up to half of the total project costs for a maximum of five years for joint ventures.

Research Support. ATP encourages R&D partnerships and consortia and provides guidance in putting together a joint research venture.

No matter which source one uses, venture capital investments continued their decline during the second quarter of 2001. The Moneytree™ survey, released this week by PricewaterhouseCoopers and Venture One, Inc., found a 21 percent decline from the previous quarter. Second quarter investments fell to $8.2 billion from $10.4 billion in the first three months of the year. Only 669 companies received funding, down 11 percent from the 752 firms funded during the first quarter.