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Congress preps defense bill with new R&D, innovation support

This week, Congress reached an agreement on the FY 2022 defense authorization bill (i.e. “NDAA”). The legislation includes support for expanding the Defense Innovation Unit’s (DIU) reach, research at minority-serving institutions, and commercialization pilots, as well as a $7 billion increase in research funding. While the NDAA does not provide appropriations, the bill is a strong signal for where the FY 2022 appropriations are likely to land.

Maryland and Indiana see growth from TBED investments

With a 20-year history, the Maryland Technology Development Corporation (TEDCO) is reporting an economic impact in 2021 four times greater than what they experienced in 2013. A new independent study found that its six core programs have provided “significant value” to the state’s start-up community, supporting over 10,000 jobs and more than $2 billion in statewide economic activity as of 2021. Meanwhile, BioCrossroads, a non-profit based in Indianapolis, has reported growth in its life sciences initiatives over the past 15 years.

OECD studies people’s perceptions of inequality to improve chances for reform

While income inequality has increased in many countries over the past 30 years, gathering public support to sustain momentum for reforms that address those inequalities is important, especially in recovering from the pandemic, says a recent report from the Organisation for Economic Cooperation and Development (OECD).

NIST seeks information to bolster US innovation and industrial competitiveness in emerging tech areas

The National Institute of Standards and Technology (NIST) has released a Request for Information (RFI) to help guide the development of eight emerging technologies. NIST will use the information to inform a study it will provide Congress with a comprehensive analysis of the nation’s emerging technology sector including information on relevant marketplaces; supply chains; future investment, legislative, policy and standards needs; and, strategic public-private partnerships to enhance the nationwide adoption of technology development and utilization.

Useful Stats: Business R&D expenditures by state and source of funding, 2019

Private sector investment into research and development (R&D) is a critical component of innovation, new product development, and regional economic vitality. As a substantial performer and funder of R&D in the United States, the strength of private industry’s R&D activity in a region can provide an indication of the region’s capacity for developing and bringing innovative technologies to market. Using data from the recent release of the National Science Foundation’s 2019 Business Enterprise R&D (BERD) Survey, this SSTI analysis shows that while private companies nationally paid for the greatest share of total business R&D expenditures themselves in 2019, this was not the case for all states.

$100M grant to Pitt will help fund biomanufacturing hub, increase life sciences impact in region

In a move designed to strengthen southwest Pennsylvania’s role in life sciences research, the University of Pittsburgh and Richard King Mellon Foundation last month announced a $100 million gift to help fund a bioresearch and development facility. The grant, which will be disbursed in $10 million increments over 10 years, will help build Pitt BioForge, a biomanufacturing facility that will leverage biomedical research conducted at Pitt and bring “an entirely new commercial manufacturing sector to Pittsburgh and, if all goes according to plan, increase the economic opportunity for residents and families in and around Hazelwood,” according to a Pitt press release.

Arkansas report offers possible template for public-private capital access analysis

An inaugural report looking at the landscape of capital resources in Arkansas may be useful to others who are interested in examining the capital access in their state or region. The report will serve as a baseline for trends in public, private and philanthropic investments in entrepreneurship across the state and may be a useful resource as the state plans its State Small Business Credit Initiative strategy.

Small Business Pulse Survey Phase 7 announced

The U.S. Census Bureau has recently announced that data collection has begun for Phase 7 of the Small Business Pulse Survey (SBPS). The SBPS measures the effects of changing conditions for small businesses (businesses that have a single location and under 500 employees) during the COVID-19 pandemic. This phase of the survey also includes new questions on changes in the use of digital technologies and in business, production, and management practices.

Japan to propose $88B university fund for science and technology innovation

Last week, Japanese Prime Minister Fumio Kishida’s advisory panel called for an $88 billion university fund to establish the nation as a center of science and technology and distribute wealth to the wider public.

SSTI members share success from apprenticeships and other programs

A job market that was struck an unprecedented blow with the pandemic became the focus of a recovery built on better jobs, not simply maintaining the status quo. And for workers across the country, myriad programs exist, or are being developed, to help them upskill or reskill as they seek new opportunities and adjust to changing demands of the labor market. Even as National Apprenticeship Week is underway this week, change is evident as the U.S.

Making the most of SSBCI

The U.S. Department of the Treasury will be meeting with SSTI members on Nov. 22 to discuss the State Small Business Credit Initiative (SSBCI). States, venture development organizations and numerous other tech-based economic development entities around the country are looking for information on how to best use the program to effectively support small business capital access in their regions.

Workforce, industry clusters listed as top priorities under EDA’s Statewide Planning Grants

As the Economic Development Administration (EDA) continues to award its $3 billion allotment of pandemic relief funding made available by the American Rescue Plan Act of 2021 (ARPA), many states are taking aim at several specific areas of economic concern — while others are maintaining a broad perspective. Under the Statewide Planning, Research & Networks program (“planning grants”), EDA provides $1 million grants to states to use in forming coordinated state-wide plans for economic development as well as developing the data, tools, and capacity to evaluate and scale evidence-based economic development efforts. SSTI’s analysis of the funded projects’ brief descriptions shows that states were split between those focusing on broadly-scoped planning projects and those focusing on a few specific areas of interest.

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