SSTI Digest

It won’t come to any surprise to Digest readers that there’s a connection between universities and economic prosperity. In addition to educating students and advancing science and technological innovation, the localized economic impact of institutions, alone, provides a buffer to economic swings for many mid-sized and smaller cities and college towns. How best to incorporate universities into regional tech-based economic development strategies without compromising core missions is an art not every community has mastered. The issue has captured the attention of the Federal Reserve. The Federal Reserve Bank of Kansas City has long championed rural economic growth through entrepreneurship and innovation, witnessed most readily through the Main Street Economist. In October and November of 2006, the Federal Banks of Chicago and Cleveland each hosted two-day conversations about the rich, diverse roles universities play in regional development, and how these institutions can nurture industry clusters. The conferences featured several models of development that take into account the full…

Did your New Year's resolutions involve making a career change? If so and you've yet to fulfill that resolution, visit the SSTI Job Corner at http://www.ssti.org/posting.htm. In addition to the new opportunities described below, the SSTI Job Corner has openings for these positions: Director of technology transfer and commercialization with the Maryland Technology Development Corporation; Senior program officer with Washington State's Life Sciences Discovery Fund; Directors to guide MTECH Ventures and VentureAccelerator at the University of Maryland; Research scientist at Purdue University; and Director of economic and workforce development with Penn State University. Or, maybe you're interested in posting a position. SSTI members are entitled to unlimited, free postings, and a brief mention in the SSTI Weekly Digest. The cost for all others is $95 per ad, which will run for 30 days on the SSTI Job Corner. To place a job posting, contact Noelle Sheets at 614.901.1690. New opportunities include: The Center for Governmental Studies, a unit of Northern Illinois University's Regional Development…

The Illinois Technology Development Alliance (ITDA) is a private, nonprofit 501(c)(3) corporation providing entrepreneur training, commercialization, and technology transition services for government, major research institutions, and corporations. ITDA is looking for a president who will work closely with the organization's board to establish a work plan and priorities to fulfill the mission of the ITDA and will have operating responsibility for the successful implementation of the plan. He or she also will serve as a key public leader in the state and region advocating for the technology sector. The presidents position requires a leader with exceptional experience and capability. More information on this opportunity is available through the SSTI Job Corner at http://www.ssti.org/posting.htm. return to the top of the page

The Center for Applied Innovation, a Chicago-based think tank, appointed Michael Patin as its new executive director.

Lori Clark is the new coordinator of agency relations and research park initiatives at Northern Illinois University.

The third installment to Walkin' the Tech Talkin' Gov Walk (see the April 17 and May 8 issues of the Digest) covers the outcomes of the 2006 legislative sessions for two states, Illinois and Wisconsin. Following is a synopsis of bills passed and budget appropriations relevant to tech-based economic development and the priorities outlined in respective gubernatorial addresses at the beginning of 2006. Illinois The General Assembly approved and Gov. Rod Blagojevich signed into law the FY 2007 budget last month. The General Assembly passed most of the governor's initiatives, including funding for new programs within the Department of Commerce and Economic Opportunity (DCEO), increases in higher education, and approval and funding for the River Edge Redevelopment Initiative. According to news reports, the legislature did not include $15 million requested by the governor for stem cell research. The General Assembly approved funding for all of the programs within DCEO (refer to SB 1520) requested by Gov. Blagojevich, which includes funding for two new programs: $1…

While it is safe to say that new medicines, electronics, educational tools and other inventions have improved the lives of countless people, a new project by the Association of University Technology Managers (AUTM) describes more than 100 such breakthroughs that probably would not exist if not for the practice of technology transfer. In The Better World Project, launched Friday by AUTM, readers can learn the stories behind the Google™ search engine, Honeycrisp apple, V-chip, cochlear implant, Habitrol® nicotine patch and other products used in health care, environmental protection, agriculture, safety and 16 other fields. "This project will pique the interest of anyone who's ever wondered 'Where did that come from?'" AUTM President John Fraser said in a press statement. The project shows how technology transfer - the process of licensing and commercializing academic research - contributes to the economy and supports new discoveries, Fraser added. A key element of the project is The Better World Report, a book containing 25 technology transfer cases contributed by AUTM members in the U.S. and…

Innovation and tech entrepreneurship take money — different amounts at different stages with different strings. As a result, increasing access to capital is an objective of many state and local technology-based economic development programs. “States fill a critical gap in available finance for many of the nation’s start-ups," said Sue Strommer, chief executive officer of the National Association of Seed and Venture Funds (NASVF). Discovering just how many programs across the country are working toward filling the financial needs of tech-based innovation is the goal of a current NASVF project to survey programs. All state equity-related financing programs are encouraged to participate before March 15, 2006. “This is an opportunity for states to showcase their efforts to support the new businesses and entrepreneurs who drive the new economy,“ Strommer added. "State leaders can reap local benefits from learning about national best practices and emerging models.” The report is expected to show that states are natural incubators for many new venture capital programs and incentives. Fund of…

Stem cell research, an expanded tax zone redevelopment initiative and faculty/researcher recruitment are all beneficiaries in the fiscal year 2007 budget proposal submitted by Illinois Gov. Rod Blagojevich last week. In addition, while overall funding for the state Department of Commerce and Economic Opportunity (DCEO) is down 16 percent from the FY 2006 appropriation, the governor's request includes several new programs to assist technology entrepreneurship. Highlights of the economic development portions of the budget are provided below. $15M More for Stem Cell Research During his Feb. 15 budget address, Gov. Blagojevich announced a new initiative for funding stem cell research. By executive order in July 2005, Gov. Blagojevich created the Illinois Regenerative Medicine Institute and awarded $10 million in grants to support stem cell research (see the July 18, 2005 issue of the Digest). Under the governor's new initiative, $100 million over five years would be dedicated to the institute to continue research efforts. Funding would be made available by using a portion of the state's…

It is no coincidence that every article in this issue of the SSTI Weekly Digest touched on some aspect of higher education's role in promoting economic growth. Knowledge-based economies driven by innovation require strong and successful institutions of higher learning. Those same types of economies, particularly when applied on a global scale, present unique challenges to sustaining educational and research excellence with academia based on older models of financing and leadership. Last November, the Federal Reserve Bank of Chicago held a one-day conference examining the future of higher education and economic growth. Two January Chicago Fed Letters by Richard Mattoon summarize the event, calling out one of the most troubling trends in America: "The perception of higher education as an important public good has eroded. Higher education is viewed by some as a private good with the benefits accruing to the student in the form of higher future wages and quality of life." Both Chicago Fed Letters are available at: http://www.chicagofed.org/economic_research_and_data/chicago_fed_letter.cfm…

The Association of University Technology Managers (AUTM) selected Vicki Loise as its first executive director.

Jim Pennekamp will be the executive director of Southern Illinois University Edwardsville's research and business park, effective Dec. 1.