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SSTI Digest
NASA Names New Institute, Center
NASA selected the Baylor College of Medicine in Houston to lead a consortium for its new National Space Biomedical Research Institute.
The space agency started the selection process last spring when it announced its intent to establish science institutes as a means of maintaining the scientific excellence of its applied biomedical research through greater involvement of the scientific community in NASA's overall research program. (SSTI Weekly Digest, May 3, 1996). The National Space Biomedical Research Institute is the first such organization to be formed.
New York Science & Technology Program Funding Restored
New York Governor George Pataki amended his proposed FY 1997-98 budget to restore funding for the state's technology programs. Pataki's revised budget calls for more than $20 million for technology programs, almost twice what was originally submitted to the legislature in January.
The new request calls for more than $16 million for university-industry projects, including Centers for Advanced Technology (CATs). Funding was also restored for the Industrial Technology Extension Service (ITES) and the Technology Development Organizations (TDOs) which operate New York's Manufacturing Extension Program (MEP). ITES and the TDOs had been eliminated from the Governor's Executive Budget.
Results In From Manufacturers Economic Growth Survey
Results are in from a new nationwide survey of 2,000 manufacturing executives conducted by the National Association of Manufacturing (NAM). Nearly two-thirds of the respondents to the 1997 Survey on Economic Growth believe that a lack of skilled workers is hindering their ability to grow. Sixty-four percent of those surveyed report that a significant number of their entry level employees do not have the skills needed to help increase productivity and growth.
NAM also reports that 65 percent of the respondents invest between one and five percent of annual payroll in worker education and training. Eleven percent invested between six and ten percent of payroll while twenty-two percent spend less than one percent of annual payroll on worker development.
Panel Members Sought
Nominations of individuals to serve on the Sea Grant Review panel are being solicited. The panel advises the National Sea Grant College Program on the operations of the program, including review of applications or proposals for grants and contracts and the designation and operation of sea grant colleges and sea grant regional consortia.
Resumes should be sent to Dr. Ronald Baird, National Sea Grant College Program, 1315 East-West Highway, Room 11716, Silver Spring, MD 20910 by March 26. A copy of the full Federal Register notice describing the panel can be obtained by calling SSTI at 614/421-SSTI (7784).
Prabhakar to Leave NIST
Arati Prabhakar, director of the Commerce Department's National Institute of Standards and Technology (NIST), announced this week that she will be leaving NIST to become senior vice president and chief technology officer of the Raychem Corporation, Menlo Park, Calif.
Robert Hebner, who has been NIST acting director since late January 1997 when Prabhakar began maternity leave, will continue to serve as acting director. Hebner became acting deputy director of NIST in 1996, where he has been responsible for the day-to-day operation of the agency and for long-range planning and policy development.
Surveys Find Venture Capital Financing Increased in 1996
Two recent reports indicate the amount of venture capital financing increased in 1996, although the two reports differ on the amount of financing and the most active investors. Both surveys agreed that California and Massachusetts were the lead states in attracting venture capital.
Price Waterhouse Study
Price Waterhouse, in conjunction with the National Venture Capital Association, recently published the results of the 1996 National Venture Capital Survey. Venture capitalists reported investing $9.5 billion in 1996, a 25% increase over 1995.
Approximately 2,000 companies received venture backing with funds going to companies in all stages of growth, from start-up to turnaround. More than one-quarter of all companies received early stage financing: either initial/seed or first round. Follow-on investments accounted for 15% of companies and 10% of funds.
Coopers & Lybrand Survey
In its annual Money Tree Survey of venture firms, Coopers & Lybrand, which also tracks venture capital activity, reported greater growth in 1996 than Price Waterhouse did. According to this survey, venture capital investment reached $10.1 billion in 1996. Surveyed venture firms participated in 2,163 deals during 1996. The average size of each financing rose in 1996 to $4.7 million, up from the $4.3 million average investment reported in 1995.
Coopers & Lybrand, which reported information only for the top 12 states, ranked the states in the following order:
Rhode Island Plan Calls for Action
The Rhode Island Economic Policy Council has concluded a year-long examination of the state's economy with a call for nine recommendations to be implemented.
The Council found,"Our economy has performed poorly in this decade. We have lost population every year because large numbers of people have moved out of state in search of economic opportunity. Five years into a nationwide economic recovery, key economic indicators in Rhode Island...are all still below their peak from the late 1980s."
To strengthen the state's economy, the Council suggests that several steps be taken, including:
Entrepreneur Of The Year Nominations Accepted
Nominations are being accepted through April 4 for the annual Entrepreneur Of The Year awards. Nominees must be owners/managers primarily responsible for the recent performance of a company that is at least two years old. Founders of public companies are also eligible provided the founder is still active in upper management.
Regional award recipients will be selected in several award categories by independent judging panels and presentations will be made at 46 regional award banquets in June. A national judging panel will choose finalists and award recipients for five National awards and The Entrepreneur Of The Year award. All regional award recipients are eligible, including those from previous years.
Pollution Prevention Information Centers Being Established
The U.S. Environmental Protection Agency (EPA) is soliciting grant proposals to establish a national network of pollution prevention information centers. Currently there are limited mechanisms to coordinate the development, review, and dissemination of pollution prevention information among those promoting source reduction technologies, according to the EPA.
Access to pollution prevention information and assistance varies across the country. In addition, not all programs providing assistance to small businesses have access to pollution prevention information. As a result, EPA is supporting a program to:
Baldrige Winners Outperform S&P 500 Again
The "Baldrige Index" for 1996 outperformed the Standard & Poor's 500 for the third year in a row, according to a study prepared by the National Institute of Standards and Technology (NIST). The fictitious index is made up of winners of the Malcolm Baldrige National Quality Award.
NIST "invested" a hypothetical $1,000 in each of the five publicly traded, whole company winners of the Baldrige Quality Award and a percentage of $1,000 in the parent companies of nine subsidiary winners. The percentage represented the number of employees the subsidiary has as a percentage of the whole company's employee base. An equal amount was hypothetically invested in the S&P 500 at the same time.
NIST found that the group of five whole company winners outperformed the S&P 500 by 3.5 to 1, achieving a 380 percent return on investment compared to a 110 percent return for the S&P 500.