SSTI Digest

With the number of startups on the rise, several states and cities are reaching out to entrepreneurs to connect them with the assistance and capital they need to survive. Indiana The Indiana Economic Development Corporation (IEDC) has launched a new initiative to connect entrepreneurs to sources of early stage capital. The INVEST Indiana initiative will use the resources of Indiana's 21st Century Research and Technology Fund to build a statewide network of entrepreneurs, private sector investors and regional stakeholders. This public-private network will provide new ventures with access to experienced entrepreneurs and will actively seek out new, non-traditional sources of capital. A new nonprofit, Elevate Ventures, has been commissioned to engage investors and work with regional stakeholders. The group hopes to attract federal and private funding to develop regional entrepreneurial action plans across the state. Find out more about INVEST Indiana at: http://www.in.gov/portal/news_events/67630.htm. Nebraska Governor Dave Heineman recently announced a new partnership to provide the state's entrepreneurs with experienced mentors and business…

Alabama then-Governor-elect Robert Bentley on January 3 named former House Speaker Seth Hammett as director of the Alabama Development Office, replacing Interim Director Linda Swann. He also appointed the president of the Birmingham-based Economic Development Partnership of Alabama, Bill Taylor, to lead efforts to grow and retain existing Alabama industries, while at the same time recruiting new businesses to the state. Colorado Gov. John Hickenlooper nominated Dwayne Romero, president of Related Snowmass, to be the new director of the Colorado Office of Economic Development and International Trade. Florida Governor Rick Scott fired John Adams, the current president of Enterprise Florida, so that he can choose a new leader to help promote his job creation and economic development agenda. Minnesota Gov. Mark Dayton chose Mark Phillips, director of development at Kraus Anderson Construction, as his commissioner of the Department of Employment and Economic Development. New York Gov. Andrew Cuomo announced the nomination of Kenneth Adams as president and CEO of the Empire State Development Corporation. Gov. Cuomo said the appointment is part of his plan to…

Gov. Andrew Cuomo announced plans to direct $200 million in existing funds to establish 10 regional economic development councils to allocate funds and provide business assistance programs across the state. At the same time, the governor would consolidate programs supporting high-tech companies currently administered by the New York State Foundation for Science, Technology and Innovation (NYSTAR) with the Empire State Development Corporation (ESDC) — a move he says will eliminate duplicative functions and save the state $1.9 million in the coming year. A majority of the funds slated for the councils ($130.6 million) would come from reprioritizing and redirecting existing economic development funds for competitively determined project grants, according to budget documents. The councils, made up of state government, business, community, and academic leaders, would compete for the funds based on economic development plans. Another $70 million would be provided in tax credits through the enhanced Excelsior Jobs Program. The FY12 executive budget recommends $310.8 million for ESDC, which includes funding for programs currently administered by NYSTAR. The High…

New York City Mayor Michael Bloomberg recently launched the NYC Urban Technology Innovation Center, an initiative that will connect universities, technology companies and building owners in an effort to bring new green building technologies to market. The initiatives will provide a database of technology needs and research, and will provide researchers with real world test sites for their work. Building owners will be able to use the technologies at discounted rates. Learn more ...

The 11th Annual Tech Talkin' Govs series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural Addresses across the nation. The first edition includes excerpts from speeches delivered in the following states: New YorkGov. Andrew Cuomo, State of the State Address, Jan. 5, 2011"We must change the way we engage in economic development planning and execution. Those working at the local level know their area economies best and we will empower them through the creation of regional economic development councils that can coordinate and integrate state agency responses with local government and business activities to create jobs. "These will not be advisory councils but instead planning and implementation councils that are empowered to allocate resources. ... " ... While New York's universities rank second nationally in total research spending, they still lag behind other states' universities in finding ways to commercialize New York research. One of the most important tasks of the regional economic development councils will be to assist those institutions in transforming their…

TBED People Walter Bumphus has been named the next president and CEO of the American Association of Community Colleges. Bumphus currently serves as a professor in the Community College Leadership Program and chair of the Educational Administration Department at the University of Texas at Austin. Bumphus will begin his tenure with AACC in January. Deborah Clayton resigned as the commissioner of the Kentucky Department of Commercialization and Innovation. She has accepted a position at the Argonne National Laboratory in Chicago. Warren Nash, deputy commissioner of the same department, also has resigned. Kansas Governor-elect Sam Brownback appointed State Rep. Pat George to his cabinet as secretary of the Department of Commerce. George is expected to start after Brownback is sworn in on Jan. 10 and the Senate confirms his appointment. Brian Hannafin, senior vice president of the Center for Economic Growth in Albany, NY is joining M+W Group as a senior executive team member for business development. The Connecticut Venture Group has appointed Elizabeth (Liddy) Karter as its new executive director beginning in January. Karter is an experienced…

The Rochester Institute of Technology (RIT) is seeking an enterprising, energetic and experienced executive director for Innovation and Commercialization. The executive director will be charged to accelerate and strengthen the university's "Innovation Eco-system" that will be recognized and emulated globally by industry, academia and governments. In its vision to become the "Innovation University" RIT is investing heavily in a unique set of academic, research and technological initiatives, programs, and resources. The executive director will be responsible for integrating and mobilizing these critical elements of the innovation eco-system, which include the Simone Center for Entrepreneurship, Student Innovation Center, Venture Creations Incubator, Entrepreneur's House, Design/Rapid Prototyping Lab and the Office of Intellectual Property Management. The successful candidate will bring firsthand experience in the process of innovation and converting ideas into new products and companies; a good understanding of academia and industry, a proven ability to secure seed and venture funding and strong managerial and leadership skills with the ability to think…

Nancy L. Zimpher, the Chancellor of the State University of New York (SUNY), believes that SUNY campuses statewide can become "the engine of New York's economic revitalization."Chancellor Zimpher's vision of economic development fueled by higher education is supported by a recent report from the Rockefeller institute of Government. The report describes a new paradigm of economic development in which university-driven economic development will replace the traditional mix of business attraction and retention incentives. The report lists five essential elements that must be leveraged for universities to become engines of economic revitalization. New "Technology Transfer" hubs at SUNY's five campuses are among SUNY's efforts. "Trends [in higher education] suggest a new paradigm for economic development programs — one that puts higher education at the center of states' efforts to succeed in the knowledge economy" according to the Rockefeller report. The authors found these common trends among universities across the country: Putting their research power to work by developing new ideas that will strengthen the country's competitive edge in…

Specialized and high-tech incubators provide crucial services and resources to promote and enhance Commercialization & Entrepreneurship, one of the six thematic tracks of this year's annual conference. Three sessions tied to this theme will be explored during SSTI's annual conference, focusing on direct lessons from successful and proven TBED programs, regional innovation clustering, and more. They include: Distributed, Non-University Models for Commercializing New Technologies Technology Entrepreneurship: Direct Contact Required Sustaining Entrepreneur-in-Residence & Mentoring Programs Announcements of new incubators designed to hatch ideas, speed commercialization of university-based inventions, and grow technology-focused companies across the nation are detailed below. Connecticut Gov. Jodi Rell announced last month a new tech business incubation initiative at the University of Connecticut (UConn) Health Center. The UConn Health Center incubator will focus on attracting participants from industry sectors including bioscience, medical devices, bio materials, and other science-, technology- and math-based ventures. During the first year, funding…

The NY-BEST Board of Directors released a solicitation to acquire an Executive Director for NY-BEST and an organization to provide operational support. The Executive Director is expected to work full-time on NY-BEST activities to: accelerate the commercial introduction of energy storage technology in New York, build the human capital and expertise to sustain a vibrant commercial energy storage industry in New York, and leverage seed resources of approximately $25 million to create a sustainable organization that provides value to its members and to New York State. Individuals may apply directly for this position or as part of a broader application with an organization to provide operational support. Read more job postings

The $68.2 million FY 11 budget approved last week for the New York State Foundation for Science, Technology and Innovation (NYSTAR), allows the foundation to continue to provide 10 percent matching funds for research institutions and businesses in order to attract federal, private and industry funds. The budget allocates $29.5 million in FY11 for a matching grants program started with ARRA stimulus funding and $5.2 million for the state's six Centers of Excellence. The appropriation is scaled down from Gov. David Paterson's original budget recommendation that would have provided $100 million for the program (see the issue of the Jan. 27, 2010 issue of the Digest). The NYSTAR budget also includes $1.5 million for state matching funds for the Manufacturing Extension Program and $343,000 for the Research Development Program. A. 9705, providing the budget detail, is available at: http://public.leginfo.state.ny.us.

A job creation program to replace New York's Empire Zone Program, often criticized by Gov. David Paterson for its lack of results and soaring cost, was approved this week by lawmakers. The Excelsior Program carries a much smaller price tag than its predecessor and limits the focus to seven industry sectors seen as having high job growth potential. Funding for the program is capped at $50 million per year for a total $250 million when fully implemented. Annual Empire Zone expenditures exceeded $550 million, according to the governor's office. Benefits offered under the new program include a jobs tax credit of up to $5,000 per job based on salary and benefit levels, an industrial tax credit of 2 percent of qualified investments, and an R&D tax credit of 10 percent of the federal R&D tax credit that can be allocated to the state. Businesses located within existing investment zones and regionally significant projects also are eligible to receive 50 percent of the Real Property Tax Credit in one year, phasing down to 10 percent in year five. The industry sectors targeted by the program are biotechnology, pharmaceutical, high technology, clean technology, green…