SSTI Digest

Three metropolitan areas dominate the U.S. venture capital landscape: San Francisco, Boston and New York. These cities are home to about half of all U.S. venture firms and about half of all U.S. venture-backed companies. Though venture firms have sprung up around the country over the past 25 years, the three cities have maintained, and even expanded, their share of national firms and investment. The continuing dominance of these cities may be frustrating to policymakers, industry leaders and entrepreneurs in other parts of the country, but a recent paper argues that there is a logic behind the clustering of firms in a few cities and that this distribution may be optimal for both the venture industry and the high-tech economy.

President Obama nominated Francis Collins, a physician and scientist who helped guide the Human Genome Project to completion, as the next director of the National Institutes of Health.

Stephen Fleming has been named vice provost of Georgia Tech's Enterprise Innovation Institute. Since 2005, Fleming has served as chief commercialization officer and led the Enterprise Innovation Institute's Commercialization Services Division. Fleming succeeds Wayne Hodges, who retired recently after a 40-year career at Georgia Tech.

Larry Irving will step down as co-chairman of the Internet Innovation Alliance in September. Irving will join Hewlett Packard, the world's leading technology company, as vice president of Global Government Affairs.

Despite the global growth of the industry over the past few decades, U.S. venture capital remains as concentrated as ever in the Silicon Valley region, and to a lesser extent, Massachusetts. Of the 87 venture capital firms included in the PricewaterhouseCoopers list of most active firms of 2008, 40 firms (46 percent) were located in Silicon Valley and San Francisco; only one California firm was located outside of that region (Santa Monica); another 18 of the most active firms were located in Massachusetts.

W. Steven Burke is the new president of Biofuels Center of North Carolina.

Bill Gimson has been named executive director of the Cancer Prevention and Research Institute of Texas. Gimson recently retired as the chief operating officer of the Centers for Disease Control and Prevention.

Jeremy Hill has been named the director of the Center for Economic Development and Business Research at Wichita State University. Hill replaces Janet Harrah, who left the post for Northern Kentucky University.

The role of a technology incubator or accelerator for supporting nascent firms generally is regarded with the utmost importance by the tech-based economic development community. Tech incubators provide essential resources for startup companies to develop and commercialize new technologies, leading to the creation of high-quality jobs.

With estimates suggesting there could be as many as 5,000 incubators of all shapes and sizes worldwide, finding the latest and best practices for tech business incubation could be a challenge. Fortunately, award programs, such as the currently open SSTI's 3rd Annual Excellence in TBED Award, can help call attention to some of the most successful approaches.

In the midst of a national economic recession contributing to a record number of job losses in traditional industries, forward thinking states are exploring ideas and committing funds to help grow and diversify their economies and strengthen their renewable energy portfolios.

Over the past several months, governors, legislators and economic development groups have announced new initiatives aimed at job growth and energy independence in the new economy. The following overview provides a sampling of green energy initiatives and investments from numerous proposals and announcements across the nation.

One of the biggest challenges for green technologies and products is breaking into the market. Achieving the critical mass that allows production volume to drive down prices is difficult, particularly when the commodity being sold is, at least initially, more expensive to make because more of the actual cost of production is captured in the green company's business model.

Successful state, university and local TBED strategies to grow green(er) companies help fund product demonstrations and early adoption strategies to help with market penetration.  In Toronto, a broad group of CEOs took matters into their own hands. 

On March 12 from 1:00-5:00 p.m. in San Francisco, SSTI is co-hosting a meeting with officials from the Technology Innovation Program (TIP) and the Manufacturing Extension Partnership (MEP) that we would encourage you or one of your colleagues to attend. TIP and MEP are two of the most market-driven programs operated by the federal government. Both programs have launched new investments and innovative services in the last year.

Registration and additional information is available at: http://www.ssti.org/tipreg/tipreg.htm.

On March 12 from 1:00-5:00 p.m. in San Francisco, SSTI is co-hosting a meeting with officials from the Technology Innovation Program (TIP) and the Manufacturing Extension Partnership (MEP) that we would encourage you or one of your colleagues to attend. TIP and MEP are two of the most market-driven programs operated by the federal government. Both programs have launched new investments and innovative services in the last year. The meeting will give you a chance to learn about:

New federal funding opportunities; New resources to support early-stage research; New products and services to expand manufacturing; New tools to help foster growth and innovation in companies you work with; New models to accelerate technology commercialization and translation; and New ideas about ways to integrate state, local,and federal investments.

Who should attend?

Massachusetts Gov. Deval Patrick's secretary of Housing and Economic Development, Daniel O'Connell, resigned for personal reasons and was replaced by Greg Bialecki, an undersecretary who has been responsible for business development

SRI International announced that Stephen Ciesinski has been appointed Vice President of Strategic Business Development.

John Fremstad has left his post at the Metro Orlando Economic Development Commission to join the BE&K Building Group.

Gov. Jim Douglas plans to merge the Vermont Departments of Economic Development and Housing and Community Affairs.

Oregon Oregon Governor Ted Kulongoski has unveiled a suite of policies to address global climate change and support the state's renewable energy and clean technology industries. His proposals include instituting a cap and trade system for carbon emissions, improving the energy efficiency of commercial and residential construction, and tax credits for energy-conscious investments. The governor hopes to see the climate plan passed by the legislature in the coming year.