Not too surprising. Put the premier professional development opportunity for the tech-based economic development community in a great city and you'll draw hundreds of participants from at least 45 states and several other countries. Offer conference attendees five-star accommodations at prices well below market and we've ended up with the largest room block yet for an SSTI annual conference.
Limited Seating Remaining in Three Preconference Sessions
In 2003, academic institutions across the U.S. reported having a total of $23.76 billion in R&D expenditures for research related to the life sciences, according to the National Science Foundation's Survey of Research and Development Expenditures at Universities and Colleges, FY 2003.
Editor's note: Few federal programs that fund research have undergone as much independent review and outside scrutiny as the Advanced Technology Program (ATP) within the National Institute of Standards and Technology and come out with high marks nearly every time. Yet two more independent papers described briefly below find that ATP funds make a positive difference for spurring innovation and commercializing technology.
The Oklahoma Center for the Advancement of Science and Technology (OCAST) has provided the state an 8:1 return on its $78 million investment since 1993, according to From Concept to Commercialization, a new OCAST impact report, and accompanying press release. The state's leading organization for building a tech-based economy finds its client companies also have enjoyed a 90 percent survival rate.
No region of the world encapsulates the aspirations of many metro and regional technology-based economic development programs as Silicon Valley, particularly to the benefits of having a cluster of technology companies feeding off of each other to the mutual benefit of all. The Valley was the global tech leader during the heyday of the IT boom, but is undergoing a tremendous structural shift since the dot-com bubble burst.
Massachusetts Governor Mitt Romney recently announced a plan to spur job growth in the state by tapping the expertise of area business, community and education leaders through Regional Competitiveness Councils. Six such councils will represent the Berkshires, Cape and Islands, Central, Northeast, Pioneer Valley and the Southeast regions of the state.
Community buy-in to building a technology-based economy is vital for TBED success. Establishing a strong private sector commitment to science and technology can make a significant difference, particularly as elected officials are deciding what to cut or trim from the budget. TBED organizations use different approaches to get the buy-in. In states such as Massachusetts (see story in this Digest), the top-down direction from the Governor could provide the group critical access.
More than $4.7 billion of venture capital was invested in 524 private companies, according to Growthink Private Equity Funding Reports for the Fourth Quarter 2002. Companies securing investments numbered 30 less than the previous quarter.
The U.S economy experienced a turbulent year in 2001. However, small businesses demonstrated resilience and strength according to the Small Business Economic Indicators for 2001, a report released by the SBA Office of Advocacy. The February 2003 report states that although economic activity was sluggish in the months leading up to September 2001, economic output grew for the year as a whole.
The TBED community owes a huge debt of gratitude to Thomas Friedman for his 2005 book, The World is Flat. Friedman has helped elevate the issue of innovation, competitiveness, and the U.S. standing therein to the New York Times bestseller list, the Sunday talk shows, and scads of press coverage. Friedman has helped convince pundits and policymakers that the world is flat and the challenges to the U.S. are more serious than ever and are only increasing.
The early bird registration and hotel room block for Investing in a Brighter Future: Building Tech-based Economies, SSTI's Ninth Annual Conference, ends on Tuesday, September 20. To register for the conference, which is October 20 and 21, you can visit the conference website at http://www.ssti.org/conference05.htm and select the registration form.
Two years ago, Kannapolis, N.C., was reeling from the announcement that Pillowtex Corp, a major textile manufacturer, was filing for bankruptcy. Pillowtex's failure resulted in more than 4,500 jobs lost in just two North Carolina counties and thousands more in the Southeast U.S.
Maryland has a new program to provide loans to early stage technology-oriented companies that are affiliated with the incubation network, Governor Robert Ehrlich announced earlier this month. The $500,000 Working Capital Loan Fund, administered by the Maryland Technology Development Corporation (TEDCO), will offer low-interest, flexible term loans of between $15,000 and $50,000 to companies in underserved parts of Maryland.
The growth rates of female sole proprietors in the numbers of businesses, gross receipts, and net income were more than double that of their male counterparts between 1985-2000. However, sole proprietorships were still male-dominated, with male sole proprietors having a larger share of the total number, receipts, and net income, according to a working paper from the Small Business Administration.
Nominations for the 2006 National Medal of Technology can be made up until September 30. The President of the U.S. presents the prestigious National Medal of Technology to individuals, teams of individuals, or companies who have improved the American economy and quality of life by their outstanding contributions through technology.
In SSTI's final look at the 2003 State of the State Addresses and Inaugural Addresses, we find the importance of building technology-based economies continues to be emphasized by governors across the country, despite – or because of – the down economy. Below are excerpts from speeches given in Michigan, Minnesota, Oklahoma, Rhode Island and Texas.
State budget gaps have grown by 50 percent in the last two months and state policymakers will work to resolve unprecedented budget shortfalls for the next 15 months, according to findings from the latest budget survey released by the National Conference of State Legislatures (NCSL).
With nearly $1 billion in federal R&D funding proposed for the new Department of Homeland Security, many states, universities and companies are exploring ways to be actively involved as R&D partners. Already home to several military and intelligence research activities, with proximity to Washington, D.C. in its favor, Virginia recently announced an effort to further strengthen its competitive position in the funding race.
Governor Tom Vilsack has announced a plan to invest $50 million into the creation of a life sciences initiative to help establish Iowa as a leader in the life sciences. Developed with the Regents Universities, Iowa Business Council and leaders in Iowa's biotechnology industry, the biotech plan's success hinges on a three-part strategy:
NJCST Out, Cancer Research In
Governor John Baldacci used his February 5 budget address to outline a proposal to float a $70 million economic development bond, the majority of which would be dedicated to research and development projects. Citing the successful results of several R&D bond packages approved by voters over the past five years – with last summer's $35 million bond being the most recent – Gov.
Rural economic development policies must build upon the natural assets of rural America, advises the latest issue brief from the National Governors' Association (NGA) Center for Best Practices. Innovative State Policy Options to Promote Rural Economic Development suggests rural strengths include natural resources, local business networks, and an under-exploited entrepreneurial culture.
To help formulate the best approach for the state to deploy to help build a stronger technology sector, Arizona Governor Janet Napolitano has established a state advisory group of consisting entirely of high tech business leaders.
The State of Maine's Experimental Program to Stimulate Competitive Research (EPSCoR) Committee is seeking a Statewide EPSCoR Director to provide leadership and vision for the State's EPSCoR Committee, called the Research Capacity Committee (RCC), and the state's research enterprise. Working directly with the RCC, the Director participates in the development and implementation of the state's EPSCoR strategy. The Director also reports to the Chair of the RCC.