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SSTI Digest
People
Lewis Branscomb, one of the leading voices in science and technology policy, and Harold E. Varmus, former director of the National Institutes of Health and a Nobel prize holder for contributions to understanding the mechanisms of cancer, will receive the Vannevar Bush Award for lifetime achievement in science and public service from the National Science Board (NSB) on May 23.
Joseph Hammang, currently vice president for science, technology and business development at the Rhode Island Economic Development Corp., has accepted a position with the Rhode Island Economic Policy Council to run the Samuel Slater Technology Fund and six Slater Centers. Mr. Hammang will remain the Governor's Advisor for Science and Technology.
In March, the North Dakota Department of Economic Development and Finance (ED&F) named Jim Hirsch director of workforce development.
People
Lewis Branscomb, one of the leading voices in science and technology policy, and Harold E. Varmus, former director of the National Institutes of Health and a Nobel prize holder for contributions to understanding the mechanisms of cancer, will receive the Vannevar Bush Award for lifetime achievement in science and public service from the National Science Board (NSB) on May 23.
People
Joseph Hammang, currently vice president for science, technology and business development at the Rhode Island Economic Development Corp., has accepted a position with the Rhode Island Economic Policy Council to run the Samuel Slater Technology Fund and six Slater Centers. Mr. Hammang will remain the Governor's Advisor for Science and Technology.
People
In March, the North Dakota Department of Economic Development and Finance (ED&F) named Jim Hirsch director of workforce development.
People
Ann Rydalch has been elected to serve as chair of the Federal Laboratory Consortium for Technology Transfer. Ms. Rydalch works for at the Idaho National Engineering & Environmental Lab. Outgoing chair C. Dan Brand will be retiring this summer.
People
Christopher Anderson has been promoted to become president of the Massachusetts High Technology Council. Prior to his appointment, Mr. Anderson served as vice president and general counsel to the organization.
People
SSTI welcomes Mark Kish to the staff as our new Writer/PR Assistant. Mark will assist with the SSTI Weekly Digest, updating and expanding our website, and planning for our September 19-21 annual conference.
1st Quarter VC Figures Released; 4th Quarter 2000 State Stats Available
Venture capital (VC) investments for the first quarter of 2001 totaled $10.1 billion, a staggering 40 percent less than the previous quarter, according to the latest Moneytree™ survey prepared by PricewaterhouseCoopers in partnership with VentureOne. Although VC investment now has declined steadily in each of the four quarters since the peak in the first quarter of 2000, the latest results mark the greatest quarter-to-quarter decrease in absolute dollar terms since the survey started.
While the figures of a separate survey released this week by the National Venture Capital Association (NVCA) and Venture Economics reported higher totals for the two most recent quarters, the decline between quarters of 42 percent is consistent with the Moneytree™ results. NVCA reported first quarter 2001 venture capital activity totaled $11.7 billion compared to $20.5 billion for the final quarter of 2000.
According to the PricewaterhouseCooper’s website, seed and first round financings were hit hardest: both deal flow and the amount raised were at approximately half the level of fourth quarter 2000.
Bipartisan Efforts Deliver New Tech Programs, Acts for Arkansas
A wide range of research and tech-based economic development bills were approved by the Arkansas legislature, which ended its legislative session in mid-April. With proposals and support coming both from Republican Governor Huckabee and the heavily Democratic legislature, Arkansas is the latest state to demonstrate broad bipartisan support for investing in science and technology.
Bills addressed areas as varied as venture capital, life sciences research, creation of a chief information officer, and implementation of the state’s geographic information system. Highlights of the legislative session include:
NVCA Looks at Venture Capital's Economic Impact
U.S. companies originally backed by venture capital created 4.3 million new jobs last year according to a new economic impact study released this week by the National Venture Capital Association (NVCA). Those companies generated $736 billion in revenues in the year 2000 and, according to the study, venture capital-backed businesses represented 3.3% of the nation's total jobs and 7.4% of Gross Domestic Product in 2000.
Regionally, the Southeast experienced the greatest job creation with 1 million jobs, followed by California. The consumer industry realized the largest number of jobs created as a result of venture-backed companies at more than 1.1 million in 2000, followed by the computer and medical/health industries. California saw the most venture capital-created revenues with $179 billion in 2000, followed by the Southeast and Southwest. The most significant revenue impact occurred in the computer industry with $204 billion in revenues generated in 2000, followed by the consumer and medical/health industries.
Chicago Top Host for 'Inner City 100' Businesses
With ten firms, Chicago leaders win bragging rights for being called home by the greatest number of Inc. magazine's "Inner City 100," the fastest growing urban businesses. In fact, six of the top 50 companies were from the Windy City.
Five businesses from Buffalo won inclusion in the magazine's list, earning the New York city the unofficial title as the second most popular home. Pittsburgh, Cleveland, and Oakland, CA each had four companies on the list.
The "Inner City 100" is compiled by Inc. and the Initiative for a Competitive Inner City, a nonprofit organization founded by Harvard professor Michael Porter.
The list of 100 firms, selected based on five-year sales growth, was narrowed from more than 2,300 nominations. Profitability and number of employees are not considered in making the award, although to be eligible for consideration, a company must have had at least 10 employees and $1 million in sales in 1999.
"Success Magazine" Picks Best Business Schools for Entrepreneurs
Using survey responses and a weighted index for caliber of students, curriculum, faculty, support for students, and overall program, Success Magazine has identified what it believes are the best 50 business schools for entrepreneurial education. The top honors are not necessarily the business schools that immediately jump to mind for most people.
Babson College, situated outside Boston with an enrollment of 1,550 MBA students, won first place on the list because the students and curriculum are focused on starting businesses, the magazine reports.
UCLA, the University of Illinois at Chicago, DePaul University (also in Chicago), and the University of St. Thomas (Minneapolis) round out the top 5. Finishing the top ten list are: Rensselaer Polytechnic Institute (Troy, NY), Indiana University (Bloomington), Case Western Reserve University (Cleveland), University of Southern California (Los Angeles), and San Diego State University.