The Advanced Technology Development Center (ATDC) within the Georgia Institute of Technology announced its affiliated companies have received more than $1 billion in venture capital funding since 1999. Amassed from 160 separate deals, the amount represents 15 percent of the total venture capital in Georgia, about one out of its every five deals in the state.
In keeping with the July 1 fiscal year deadlines, several states passed their budgets last month. The following states passed budgets that include funding for alternative energy, R&D tax credits, and science, technology, engineering and math (STEM) initiatives.
Connecticut
Vermont, Connecticut and California lead the nation in the race to adopt energy efficiency policies, programs and technologies, according to the 2006 State Energy Efficiency Scorecard.
With the deadline less than two weeks away, we hope you are putting the finishing touches on your Excellence in TBED Award application.
The U.S. Department of Energy (DOE) announced this week it will invest up to $375 million over five years in three new Bioenergy Research Centers to be located in Oak Ridge, Tenn., and Madison, Wisc., and near Berkeley, Calif. The winning sites were selected through a competitive, peer-review process that began last year and included more than a dozen applicants from across the country.
The U.S. Department of Labor (DOL) recently named 13 more regions to receive grants through the third round of the Workforce Innovation in Regional Economic Development (WIRED) program. As with the previous round of awards (see the Jan. 22, 2007 issue of the Digest), the recipients will each receive $5 million over the course of three years to integrate workforce training initiatives into a regional technology-based economic development strategy.
With less than two weeks to go before the new fiscal year, Arizona and New Jersey lawmakers approved funding for cutting-edge research at the close of their 2007 legislative sessions last week. Following is a synopsis of the TBED initiatives slated to receive funding under the respective budget agreements.
Arizona
Last week, Texas Gov. Rick Perry signed off on the state’s budget, but not before making substantial use of his line-item veto. Overall, the approved $151 billion FY 2008-2009 budget increases general revenue spending by $7.7 billion (11.8 percent) over the current biennium. Much of that new spending will support education in the state; however, a number of programs, particularly those connected to higher education, failed to receive the governor’s approval.
The national economy is a dynamic system, and the techniques to measure the system must be updated in order to understand its complexity, according to a recent report published by the National Academy of Sciences (NAS). In Understanding Business Dynamics: An Integrated Data System for America’s Future, NAS outlines steps that could be taken to properly capture pertinent information about firms, especially the young and small ones that are driving the emerging sectors of the economy.
Every year, the National Science Foundation releases Graduate Students and Postdoctorates in S&E, a report filled with detailed statistics about the characteristics of science and engineering graduates enrolled at U.S. institutions. Using the annual report, SSTI has prepared a table showing the total number of graduate students for each year from 2001 to 2005 in each state, the District of Columbia, and Puerto Rico.
The field of tech-based economic development has changed dramatically since the creation of SSTI in 1996 and continues to change almost daily. With these changes in mind, SSTI is releasing a new mission statement that better defines the organization's current direction.
SSTI's new mission is to lead, support, and strengthen efforts to improve state and regional economies through science, technology, and innovation.
Over the past few months, Congress has been at work on a package of measures to address the competitiveness of the U.S. economy. Two similar, yet distinct, competitiveness bills are currently being reconciled in conference between the House and the Senate. President Bush has voiced several objections to both the Senate and House bills and may even be prepared to veto the legislation if a compromise cannot be reached.
State Also Begins Work on $150M Stem Cell Research Center An agreement between Gov. Jon Corzine and state legislative leaders will result in a $450 million bond referendum being put before New Jersey voters this fall. If approved, the money will be used to augment support for the state’s stem cell research initiative over the next 10 years.
North Carolina does not, at first glance, seem to be a venture capital underperformer. In 2006, venture capitalists invested close to $510 million in North Carolina, almost $60 million of which was invested in seed and early-stage businesses, according to the Pricewaterhouse Coopers Moneytree Survey of VC investment. However, while the state ranks 12th in seed/early-stage investment, many in the state perceive the lack of seed funding to be a major obstacle to economic growth.
With a projected national shortage of more than 280,000 math and science teachers by 2015, key stakeholders must begin initiating strategies to recruit, retain and renew the nation’s teaching workforce, says a new report by The Business-Higher Education Forum (BHEF).
The Bureau of Economic Analysis (BEA) has published its latest update on the real gross domestic product (GDP) growth of each state. The update includes advance estimates for 2006 data, as well as revisions to data from 2003-2005.
SSTI has prepared a table showing every state’s real GDP per capita from 2003 to 2006. Besides these values, the table also includes:
Phil Bond, Under Secretary for Technology in the U.S. Department of Commerce, announced his resignation, effective May 13. A strong supporter of NIST and tech-based economic development, Bond will be missed as he becomes Senior Vice President for Government Affairs at Monster Worldwide.
Phil Bond, Under Secretary for Technology in the U.S. Department of Commerce, announced his resignation, effective May 13. A strong supporter of NIST and tech-based economic development, Bond will be missed as he becomes Senior Vice President for Government Affairs at Monster Worldwide.
Diane Duff, former director of economic development and commerce for the National Governors Association, is the new executive director of the Southern Governors' Association.
Gov. Bill Richardson appointed William Enloe, CEO of Los Alamos National Bank, to serve as chairman of the New Mexico Economic Development Partnership.
Randa Hayes is the new director of the business development and trade division of the Missouri Department of Economic Development.
The new Vice President for Business Ventures at the Mississippi Technology Alliance is Jim Lowery.
TechNet named Lezlee Westine, White House Director of Public Liaison, to serve as its new director.
Alabama Gov. Bob Riley and lawmakers recently gave the state's Department of Education a substantial boost by increasing the budget for the Alabama Math, Science and Technology Initiative (AMSTI) by two-thirds for fiscal year 2008 – a leading example in science, technology, engineering and math (STEM) education.
Should a fall of 11 places in international rankings for broadband penetration be of concern for U.S. policymakers? Expanding broadband access for business and residents has become a key element of many regional development strategies. The Internet has become a key resource for entrepreneurs and small businesses, as well as a necessary ingredient in preparing students for the modern workforce.