PitchBook and NVCA’s Venture Monitor for 2019 largely depicts continued trends from 2018: $100 million-plus investments, $2 million-plus average for angel and seed deals, and more than 10,000 investments of more than $100 billion. In a few cases, 2019 data suggests average deal sizes may have peaked in 2018, but more time is needed to clarify the trend.
The IRS has released the “final” rules for Opportunity Zones (OZs). At this point, funds, investors and businesses are able to access all of the incentive information that is likely to be available for the next few years. The OZ structure continues to be simpler to implement for single-purpose real estate investment, but the final round of guidance has provided some additional clarity and support for multi-asset and business investment funds.
The IRS has released the “final” rules for Opportunity Zones (OZs). At this point, funds, investors and businesses are able to access all of the incentive information that is likely to be available for the next few years. The OZ structure continues to be simpler to implement for single-purpose real estate investment, but the final round of guidance has provided some additional clarity and support for multi-asset and business investment funds.
SSTI is providing members with a three-page review of the rules that are most relevant to investing in eligible startups. Members can login or create an account to access the file from the "Member-only Documents" section of the site. Non-members can join today for access.
A new report underscores the shifting position of the United States in the global R&D competition and the continuing rise of China. While two charts from the National Science Board’s The State of U.S. Science and Engineering summarize the changing nature of this international struggle, the underlying data on where the U.S. and China are investing their resources should really grab the attention of policymakers and one would hope motivate action by the U.S.
North Carolina is gaining ground nationally in its innovation capacity and the number of innovation-oriented establishments in the state has increased by twice the national rate, according to a new report from the North Carolina Board of Science, Technology and Innovation.
Governors’ focus on initiatives particular to their state in this latest round of state of the state addresses. As SSTI continues to review the speeches for new innovation proposals, we found states continuing to focus on education with more attention on teacher salaries and efforts extending all the way down to pre-K with a recognition that the future workforce is influenced by many factors.
The National Academies of Science, Engineering, and Medicine (NASEM) has set out to address the core risks that currently threaten the United States' bioeconomy with the release of their report Safeguarding the Bioeconomy. While the U.S.
Please mark your calendars for Oct. 5-7, 2020, as the new date for SSTI’s Annual Conference. Because our rooms were overbooked for the previous dates, we have moved the conference up a week. The Little Rock Marriott has dropped the room rate to $129 to accommodate any inconvenience this may have caused.
On Monday, Maine Gov. Janet Mills and Mayor Kate Snyder gathered on Portland’s waterfront for the unveiling of a $100 million research institute designed to drive innovation, talent and economic growth in Portland, the region and the state of Maine.
A recent report from the Organization for Economic Cooperation and Development (OECD) focuses on increasing participation in entrepreneurship from underrepresented and disadvantaged groups such as women, immigrants, youth, seniors, the unemployed, and people with disabilities.
More states are employing different efforts to boost their workforce and to seek the best solutions to workforce dilemmas. The National Governors Association (NGA) recognized that governors are exploring ways to guide development and expansion of youth apprenticeship programs and has issued a white paper that explores three strategies governors can use to expand on such programs.
The economy, workforce and climate change continue to surface in governors' state of the state addresses. While today’s strong economy allows most governors to reflect on how the states have grown, preparing for the next downturn continues to be a point of concern.
The Federal and State Technology Partnership (FAST) is intended to increase innovation-based small business awareness and participation in the SBIR and STTR programs in places and populations that are underrepresented in the programs’ award portfolios. Through FAST, the Small Business Administration (SBA) makes small, matching one-year awards to state programs on a competitive basis.
Building on SSTI’s recent analysis of county-level GDP by industry, this edition moves beyond a single year and examines the changes in real — adjusted for inflation — county GDP and the changes in industry-specific contributions to county GDP for the 10-year period from 2009 to 2018. As shown in the interactive map below, the total 10-year growth rate for counties averaged approximately 21 percent.
The White House Office of Science and Technology Policy (OSTP) is exploring a national strategy to promote the U.S. bioeconomy. In response to a request for information, SSTI submitted a letter encouraging OSTP to leverage existing regional assets as part of its approach. To see more innovations converted into new products, services and businesses, the letter encourages a new program to fund commercialization assistance and to strengthen SBIR.
Research universities and their partnerships with industry, including an institution’s research capacity, are important elements to building a state’s economy as well as the national economy and talent pipeline and workforce.
Rising tuition and worsened racial and class inequality are two of the effects of decreasing state support for higher education, according to a recent report from the Center on Budget and Policy Priorities. In it the authors detail how overall state funding for public two- and four-year colleges has not fully recovered in most states following the recession, leaving higher costs and reduced services in many cases.
The U.S. Department of Energy and the U.S. Department of Agriculture have announced an agreement between them to promote rural energy and the development of technologies “that will support and advance rural and agricultural communities and domestic manufacturing.” The Memorandum of Understanding (MOU), which was required under the 2018 Farm Bill, is expected to increase the economic development of rural areas through new energy technologies and investments.
As voters head to the polls next week, some will be deciding the fate of innovation and development-related initiatives, while voters in Kentucky, Louisiana and Mississippi will be voting in gubernatorial elections. The initiatives include a possible additional $3 billion in Texas for cancer research. And in Louisiana, Mississippi, New Jersey and Virginia, legislative chambers are holding regular elections. Those races and initiatives are covered below.
Colorado
As voters head to the polls next week, some will be deciding the fate of innovation and development-related initiatives, while voters in Kentucky, Louisiana and Mississippi will be voting in gubernatorial elections. The initiatives include a possible additional $3 billion in Texas for cancer research. And in Louisiana, Mississippi, New Jersey and Virginia, legislative chambers are holding regular elections. Those races and initiatives are covered below.
Jennifer Roche prepared the following summary of a recent Enrico Moretti working paper for the November 2019 issue of the NBER Digest. The summary has been edited here for length and clarity; SSTI comments are in brackets.
The U.S. Chamber of Commerce and Google released a new analysis of export activity by U.S. small businesses. Results, based on surveys and Global Trade Analysis Project data, find $541 billion in national economic output, just 2.8 percent of the U.S. total.
Corrected version.*
Democrats made some gains in Virginia’s Legislature, and in Kentucky, the governor’s seat looks to be turning over to a Democrat, but the current Republican is requesting a recanvass in the close race. If those results hold, Democratic challenger and current Attorney General Andy Beshear will take the seat from incumbent Gov. Matt Bevin, ending the state’s Republican trifecta (where one party holds the governorship and both chambers of the legislature). Mississippi’s gubernatorial seat remained in Republican control, while the gubernatorial election in Louisiana takes place on Nov. 16, and the incumbent Democratic governor there is seeking another term. Following Tuesday’s elections, the divided government in Virginia turned into a Democratic trifecta in Virginia, as Republicans lost their hold in both the House and Senate. Those outcomes and results from several state legislative elections, along with the results of several innovation-related initiatives, are highlighted below.
From 2006 to 2018, income inequality has risen continuously both nationwide and in all states (but not in the District of Columbia). Annual changes vary widely for state income inequality, with some states experiencing increases year after year, and others displaying more volatile trends consisting of both sharp annual decreases and increases.
Access to reliable and fast internet service is a foundational element for the modern economy. Since the advent of broadband service its delivery has been highly divided between urban and rural areas. Many states are continuing to address this divide and took action in 2019. Several states repealed laws prohibiting local electric companies and co-ops from providing broadband services, other states initiated official planning efforts to expand internet services, and many approved and dispersed funding to develop broadband infrastructure in rural areas.
The number of students enrolled in all levels of school in 2018 was 76.8 million, a drop of 2.8 percent from the 79 million enrolled in 2011, according to a new study by the U.S. Census Bureau. The biggest decrease in enrollment was at two- and four-year colleges. Enrollment in two-year colleges was down from 5.7 million to 4.3 million, a 25-percent drop, while enrollment in four-year colleges was down from 20.4 million to 18.9 million, a 7.6 percent dip over the 2011-2018 period.
The number of students enrolled in all levels of school in 2018 was 76.8 million, a drop of 2.8 percent from the 79 million enrolled in 2011, according to a new study by the U.S. Census Bureau. The biggest decrease in enrollment was at two- and four-year colleges. Enrollment in two-year colleges was down from 5.7 million to 4.3 million, a 25-percent drop, while enrollment in four-year colleges was down from 20.4 million to 18.9 million, a 7.6 percent dip over the 2011-2018 period. The number of graduate-school students is up to 4.3 million, a 300,000 jump from the 2011 total. The number of minority students has increased as well.
This week’s edition of Useful Stats covers Higher Education Research & Development (HERD) expenditures at the metropolitan level, pulling from the recent NSF updates to its HERD performance data. High levels of college and university R&D activity is not surprisingly clustered heavily in the East Coast — ranging from the District of Columbia up to Boston — and on the West Coast in California.
This week’s edition of Useful Stats covers Higher Education Research & Development (HERD) expenditures at the metropolitan level, pulling from the recent NSF updates to its HERD performance data. High levels of college and university R&D activity is not surprisingly clustered heavily in the East Coast — ranging from the District of Columbia up to Boston — and on the West Coast in California. The 10-year average HERD expenditures were the greatest in the New York-Northern New Jersey metro area ($3.7 billion), Boston ($2.8 billion), Baltimore ($2.8 billion), Los Angeles ($2.6 billion), and Houston ($2.0 billion). These five metro areas account for nearly 21 percent of the nation’s total 10-year average R&D spending by universities and colleges. Of the 209 metro areas included in this analysis — and excluding nonmetropolitan areas — the top 15 metros account for approximately 45 percent of the 10-year average of total HERD expenditures.