SSTI Digest

New York City  Mayor Bill de Blasio has announced that the city is planning to double its $500 million investment in the LifeSci NYC commitment, to reach a total of $1 billion invested in life sciences over the next 10 years. The mayor, whose term in office expires at the end of this year, and the NYC Economic Development Corporation (NYCEDC), kicked off the investment by announcing a request for proposals (RFP) to help advance the commercial research and development of new medicines, medical devices, diagnostics, materials, and research tools.

The U.S. Department of Energy (DOE) has announced that 10 accelerators and incubators across the country have been awarded $9.5 million in total funding through the Energy Program for Innovation Clusters (EPIC) to help develop pipelines for energy technology to reach the market. Created by the DOE’s Office of Technology Transitions, the EPIC funding program aims to encourage the growth of regional energy innovation ecosystems across the U.S. and supports new business formation. This announcement marks the second round of funding through the EPIC program, with the first awarding $500,000 each to 20 incubators and accelerators in October of 2020 to support energy innovation ecosystems and stimulate energy hardware development in regions across the country.

The recipients of this round of EPIC funding, along with the total amount awarded, are:

The U.S. Department of Energy is seeking public feedback on the current barriers and actions needed to make its funding opportunities and innovation and entrepreneurship activities more inclusive, just and equitable, and, in a separate effort, it is seeking input on improving productivity and efficiency of the manufacturing sector through a $4.8 million request for proposals.

Students who earn bachelor’s degrees in science, technology, engineering, and math fields (STEM) are more likely than not to see an increase in pay; however, it is far from guaranteed that their post-graduation employment will be within a STEM-related sector. The Census Bureau recently reported that of the 50 million employed college graduates aged 25 to 64 in 2019, 37 percent reported a bachelor’s degree in science or engineering but only 14 percent worked in a STEM occupation. Of all the STEM workers, those who majored in STEM fields typically earned higher salaries than those who did not ($101,100 vs $87,600 on average).

Earlier this week, the U.S. Treasury’s Community Development Financial Institutions (CDFI) Fund announced $1.25 billion in coronavirus-related “rapid response” funding to 863 CDFIs. Among the recipients were SSTI members Launch NY and Vermont Sustainable Jobs Fund. The awards included a total of $9.4 million to seven CDFIs certified as venture capital funds; as of FY 2019, just 14 CDFIs were certified as venture capital funds, out of 934 in total (note that a fund’s certification status does not necessarily signify how the CDFI will use a new award). The full list of awards can be found here (xlsx). To receive funding through the CDFI Fund, organizations must first become a certified CDFI. Learn more at cdfifund.gov.

This edition of Useful Stats explores data from the U.S. Patent and Trade Office (USPTO) on new utility and plant patents granted in the U.S. by state/territory for the five-year period from 2016 to 2020. This analysis includes only utility and plant patents as these types are those associated with the invention of new products and services, and excludes reissued patents and those issued for purely aesthetic designs.

State patent activity is a good indicator of the health of local innovation economies. Patents for innovative products and processes are issued to inventors across academia, industry, and the public sector, and the number of these new patents issued in states over time can provide insights into the strengths of these sectors and how well they are collectively able to bring innovative technologies out of the lab and, potentially, to market. Understanding this patent activity can help program and policy designers in local innovation economies in evaluating, enhancing, and developing their initiatives.

We are excited to announce that SSTI’s annual conference is back and in-person, Nov. 1-3, in Little Rock, Arkansas. More than ever, now is the time to reconnect with those in the field and make new connections as we revitalize our plans for the innovation economy. Whether you are resetting your agenda, expanding your initiatives, evaluating your success, or searching for new paths to emerge stronger from the pandemic, we will have ideas, sessions and resources for you to explore at SSTI’s 2021 Annual Conference: Focusing on the Future. Mark your calendars, register early and as always, reach out to anyone of us here at SSTI with ideas or questions as we build out the conference agenda. And check back at ssticonference.org frequently for updates.  

Outlining the need for a new national effort to build regional innovation economies, a panel of experts gave testimony to the Research and Technology subcommittee of the House Committee on Science, Space and Technology, chaired by Rep. Haley Stevens (D-MI). The panel focused on how regions have developed their innovation economies and how those experiences could be replicated across the country with federal support. SSTI President and CEO Dan Berglund's testimony drew from SSTI members’ experience and his more than 35 years in the field to make the case that a robust federal response was required with a national strategy and federal funding to support state and local organizations as they develop regional innovation economies. The hearing comes as the U.S.

The Georgia Research Alliance has announced a new five-year initiative to fight sickle cell disease that will include creation of a GRA Eminent Scholar chair at the Morehouse School of Medicine (MSM), Emory University and Children’s Healthcare of Atlanta (CHOA). The Calvin Smyre GRA Eminent Scholar Chair, named for Rep. Calvin Smyre, currently the longest-serving member of the Georgia General Assembly, will be endowed with public and private funds and is the cornerstone of the new GRA initiative, which proposes funding lab equipment and additional researchers at both MSM and Emory, as well as resources to move discoveries from the university labs to clinics and markets.

This week, the Senate passed the U.S. Innovation and Competition Act, a legislative package that includes the Endless Frontier Act. The tech-based economic development community should be excited about many initiatives authorized in the bill, including $10 billion for regional technology hubs, $100 billion in new R&D-related activities, and an expansion of the Manufacturing Extension Partnership program. The bill also provides $50 billion in appropriations for semiconductor research, and includes multiple R&D policy bills. SSTI worked with Sen. Chuck Schumer, the legislation’s lead sponsor, and other Senate offices to strengthen the proposals, The Senate action is just the first step in the legislative process, as the House is beginning to work through its own proposals.

Regional Technology Hubs

The May jobs report that was released last Friday contained better news than the disappointing numbers from April, with May figures showing 559,000 jobs added and unemployment declining by 0.3 percentage point to 5.8 percent. But the jobs picture remains complicated. This week, the Bureau of Labor Statistics (BLS) reported that there were 9.3 million vacant job openings across the country in April, a series high from its start in 2000.

A new report from the Minority Business Development Agency (MBDA) highlights the impact of business and entrepreneurship courses at Tribal Colleges and Universities (TCUs), which have long served as bastions of cultural identity at many American Indian and Alaskan Native reservations and important economic drivers in these prominently rural areas. MBDA finds statistically significant evidence that TCUs with stronger business and entrepreneurship curriculum typically serve the most rural areas, and that these areas have higher levels of self-employment, median earnings, and higher rates of bachelor’s degree attainment than areas served by TCUs without strong business and entrepreneurship curriculum.