SSTI Digest

A newly established policy academy providing guidance and technical assistance will help seven states improve their environment for innovation and align state R&D investments, workforce development and education systems with current and future needs of advanced manufacturing industries. The policy academy will help each state develop a plan or overcome barriers for putting a plan into action through a highly interactive team-based process that includes input from NGA, MEP, EDA, SSTI, private sector consultants, and research organizations. Participating states include Colorado, Connecticut, Illinois, Kansas, Massachusetts, New York, and Pennsylvania. Ideas and strategies resulting from the academy's work will serve as models for all states. NIST, MEP and EDA are providing funding, leadership and technical assistance to the National Governors Association Center for Best Practices. Learn more...

As state and federal funding for higher education dwindles and the workforce needs of the new economy continue to shift, state and university officials are reevaluating how higher education is funded, its return on investment for the state, and how universities can better drive economic growth. Recent examples in New York, Ohio and Texas demonstrate how states are implementing new policies to adapt to the changing times. New YorkGov. Andrew Cuomo recently signed into law the NYSUNY 2020 legislation, an initiative the governor says will both help New York's public universities become a leading catalyst for regionally-focused economic development and stabilize tuition. The new law allows the four university centers located in Albany, Binghamton, Buffalo, and Stony Brook to apply for challenge grants of $35 million each to expand facilities and enhance research-focused programs. A total $140 million is available through the program, including $80 million in capital funding authorized under the new law and $60 million in existing SUNY funds. Details recently emerged on the proposals submitted by the four centers. The University of Albany wants to build a…

The 10 regional councils established earlier this year to stimulate economic development and improve the business climate statewide are tasked with five primary responsibilities, and can compete for funding from a pool of $1 billion to support projects they determine to be a part of their regional strategy. Gov. Andrew Cuomo recently unveiled a blueprint for how the councils will operate with information regarding resource allocation, structure and leadership, and performance measurement. In the first two years, the councils will focus on two key tasks: developing and adopting an initial five-year strategic plan, and implementing the plans and evaluating their performance. The initial strategic plans are due Nov. 14, 2011, and should identify projects ready for investment. A review committee will analyze, score and rank each plan based on criteria established by the governor's office. Plans will be reviewed for allocation of $200 million in capital funds and tax credits appropriated in the FY12 enacted budget. Last month, Gov. Cuomo announced additional funding and resources from state agencies participating in the councils that when combined create a pool of up to $…

Venture for America (VFA), nonprofit organization, announced its official launch and the acceptance of applications for its inaugural pool of "fellows," approximately 50, selected from the graduating class of 2012. The organization hopes to "spur enterprise and encourage entrepreneurship in parts of the U.S. that struggle to attract top college graduates." Beginning in fall, fellows will take jobs at startup companies in economically-challenged U.S. cities. VFA will match the fellows with startup companies in "industries of great potential or future importance" (e.g., energy, biotech, and materials sciences) from targeted cities including Detroit, Providence and New Orleans. The startup will hire fellows at a discounted salary of up to $38,000 per year. After two years, the startup may retain the fellow under new terms of employment. The organization models its selection process after Teach for America. Fellows will be selected through a competitive application process that includes peer and faculty recommendations, multiple interviews, case studies, business plan submissions and behavioral exercises. Once selected, fellows will have…

Lawmakers last week passed a measure establishing the Innovate NY Fund to invest $25 million of federal funds in technology development organizations, research universities, and seed-stage investment funds. The Empire State Development Corporation will administer the fund and establish a competitive process for evaluating applicants. Investment priority is given to companies involved in commercialization of R&D or high-tech manufacturing. Funding comes from the State Small Business Credit Initiative, which is part of the Small Business Jobs Act of 2010 signed into law by President Obama in September. All states are eligible to apply for the funds meant to spur lending to small businesses and manufacturers. New York was awarded $55.4 million. The legislation requires funds to be invested in New York-based, seed-stage companies with substantial potential growth and job development in emerging technology fields. The bill (A. 8452) awaits action by Gov. Andrew Cuomo and is available at: http://public.leginfo.state.ny.us

As the cost of a college education continues to rise and good paying jobs are seemingly scarcer than ever before, many Americans are questioning the value of a college degree. A recent survey from the Pew Research Center found 57 percent of Americans believe the U.S. fails to provide good value for the money students and their families spend, and about four in ten college presidents say the system is headed in the wrong direction. At the same time, however, studies find the lifetime earnings of college graduates to be much higher than those of high school graduates. Further, students majoring in engineering, computers and mathematics can expect to make more money than any other undergraduate major. The Pew report, Is College Worth It? is based on findings from two surveys conducted this spring — one with the general public and the other an online survey among college presidents. Among survey respondents who graduated from a four-year college, 74 percent said their college education was useful in helping them grow intellectually, but only 55 percent said it was very useful in helping them prepare for a job or career. Additionally, a record number of students are…

In the 2008-2009 academic year, nearly 66 percent of all degrees awarded by the State University of New York system were in fields related to the 16 clusters identified as key to the state's future growth, according to a new study — How SUNY Matters: Economic Impacts of the State University of New York. The 64-campus SUNY system is comprised of research universities, university colleges, community colleges and specialized institutions from across the New York state. The report authored by researchers at the Nelson A. Rockefeller Institute of Government and the University at Buffalo's Regional Institute found that the system has not only had a significant impact on state's current economy, but will provide an even more important contribution to its future innovation economy. Kathryn A. Foster, director of the University at Buffalo's Regional Institute, said the report shows that "SUNY packs a double punch: it's producing the kind of new ideas we need to create high-paying jobs in New York State -- and it's helping produce a workforce prepared to take those jobs." Beyond its primary mission of education, the SUNY system has…

Much of the recent economic recovery plans coming from governors across the country have focused on growing and nurturing existing businesses through a regional approach to economic development. The idea is that by identifying and defining the unique needs of a region, policymakers and practitioners can then provide the necessary tools and resources to grow industries likely to succeed within a given region, thus improving the overall economic landscape of the state. This approach is happening both in states and at the local level. New Governors Look to Regional Economic Development to Boost Job CreationMany of the nation's new 28 governors elected last November came into office with bold proposals to create jobs in the sluggish economy by developing regional plans. New York's recently enacted budget provides $130 million in funding and $70 million in tax credits to establish 10 regional economic development councils expected to debut this month. The councils will compete for the funds and prioritize economic development projects in their respective regions. Meanwhile, the re-vamped Michigan Economic Development Corporation plans to distribute a portion of…

New York Gov Andrew Cuomo has announced the launch of the NYSUNY 2020 Challenge Grant Program. In its first phase, the program will make $140 million available (up to $35 million per institution) to SUNY University Centers in Albany, Binghamton, Buffalo and Stony Brook for partnerships with the private sector. These partnerships are intended to create new jobs and revitalize regional economies.

The Kentucky Cabinet for Economic Development is looking for an executive director who is an ambitious, successful professional that will provide leadership in Kentucky's efforts to develop a knowledge-based economy. The executive director will work in partnership with all levels of government, academia, and the private sector to help create a supportive high-technology environment. The executive director will leverage his or her executive expertise, entrepreneurial background, policy knowledge, and resources to strengthen Kentucky's technology industry-focused business attraction and expansion initiatives. ITAC is looking for a growth services practice leader to develop and manage delivery services aimed at assisting their clients to achieve measurable growth of their top line. While the position is project based, it is expected that the successful candidate will have an entrepreneurial spirit and the drive to further ITAC's mission. ITAC is a not-for-profit economic development organization providing consulting & training services to small and medium-sized manufacturers and technology firms in NYC, to help them grow and prosper.

A budget agreement reached last week between Gov. Andrew Cuomo and legislative leaders adopts the economic development reforms set forth by the governor to establish a regional strategy for job creation. The approved budget allocates about $200 million in existing capital funds and tax credits to support 10 regional economic development councils and merges the New York State Foundation for Science, Technology and Innovation (NYSTAR), the state's tech-based economic development initiative, into the Department of Economic Development. The budget approved by lawmakers dedicates $130 million in existing capital funds to establish 10 regional economic development councils serving as a one-stop-shop for all state-supported economic development and business assistance programs in each region, according to the governor's office. The money for the councils was appropriated for capital projects in prior years, meaning no new funds will be used to support the councils. Under the budget agreement, the governor will direct $30 million of his own pot of capital projects funding, and the other $100 million is obtained by canceling plans to construct a consolidated data center…

Recent announcements of new and emerging technology incubators range from Google's selection of Cape Town, South Africa to launch a pilot incubator supporting technology entrepreneurs that it hopes to replicate globally to Alabama Gov. Robert Bentley's plan to create a statewide business incubator focusing on workforce training. Select announcements from across the globe are highlighted below. Google will set up a new technology incubator called Umbono in Cape Town, South Africa, reports Memeburn. Startup companies selected for inclusion will receive six months of free office space and bandwidth, in addition to $25,000 to $50,000 in funding from a panel of angel investors and Google. The goal is to replicate the model in other parts of the globe. The name means "vision," "sight" or "idea" in Zulu, the article states. Three major energy companies announced a joint venture earlier this year to support clean tech energy companies by establishing a green technology incubator. General Electric, NRG Energy and ConocoPhillips will commit $300 million over the next four years to the Energy Technology Ventures enterprise. Funding is…