The National Science Foundation (NSF) Innovation Corps (I-Corps) program, a public-private partnership, intends to connect NSF-funded scientific research with a project team, made up of professionals from the technological, entrepreneurial and business communities, to help transition NSF-funded scientific and engineering discoveries at institutions of higher education into commercial technologies, products and processes.
Internet-specific investments hit a ten year high in the second quarter of 2011, driving overall venture investment up 19 percent over the previous quarter. The National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC) report that venture capitalists invested $7.5 billion in 966 deals during the second quarter. This represents an increase of about 19 percent over the first quarter in both the number of deals and total dollars invested. The gain, however, was less significant when compared to the second quarter of 2010.
Venture for America (VFA), nonprofit organization, announced its official launch and the acceptance of applications for its inaugural pool of "fellows," approximately 50, selected from the graduating class of 2012. The organization hopes to "spur enterprise and encourage entrepreneurship in parts of the U.S. that struggle to attract top college graduates."
The University of Nebraska-Lincoln's Bureau of Business Research and Department of Economics has released its latest edition of the State Entrepreneurial Index, a state-by-state analysis of entrepreneurial activity. The index uses five components — percentage growth and per capita growth in business establishments, its business formation rate, the number of patents per thousand residents and gross receipts of sole proprietorships and partnerships per capita — to rank states in business formation and innovation.
About 60 percent of U.S. academic R&D spending support research in the life sciences, according to data released by the National Science Foundation (NSF). Engineering R&D, the second largest target of spending, accounted for 15.7 percent of total academic research expenditures. While California leads the country in total spending in every science and engineering field, the District of Columbia leads in per capita spending in life sciences, physical sciences, psychology and social sciences.
Recent legislative actions supporting technology-based economic development include level funding for the Massachusetts Life Sciences Center, funding to support programs of the Minnesota Science and Technology Authority and the expansion of two state programs in support of technology and life sciences companies in New Jersey.
Lawmakers in several states wrapped up their 2011 sessions in time for the new fiscal year, which begins on July 1 for most states, allocating funds and passing bills in support of tech-based economic development. Read more...
In a Framework for K-12 Science Education: Practices, Crosscutting Concepts and Core Ideas, an 18-member committee comprised of experts in education and scientists proposes a foundation for new national K-12 science education standards. The report identifies core ideas in four areas that students should understand by the time they finish high school. The four areas include:
Iowa Gov. Terry Branstad signed Iowa House File 590 into law, establishing a new economic development public-private partnership. The Iowa Partnership for Economic Progress (IPEP) will be comprised of two separate entities — the Iowa Economic Development Authority and the Iowa Innovation Corporation. IPEP replaces the embattled Iowa Department of Economic Development.
The District of Columbia leads the country in per capita academic R&D expenditures, spending about $543.19 per resident, according to new data released by the National Science Foundation. Maryland follows closely behind with $530.06 per resident, while Massachusetts ranks a distant third with $373.60. While California, New York and Texas lead in total expenditures, smaller states, such as North Dakota, Rhode Island and Hawaii place in the top 10 for per capita spending.
The Department of Commerce, National Institute of Standards and Technology is seeking applications for the director, Technology Innovation Program. This position is perfect for you if you are ready for a challenge and are committed to making significant improvements in the operations of one of the world's premier research and science organizations. NIST is located in Gaithersburg, Montgomery County, MD.
Pamela Goldberg has been appointed as the executive director of the Massachusetts Technology Collaborative. Currently, Goldberg serves as director of entrepreneurial leadership at Tufts University.
The 2011-13 biennial budget for the Oregon Business Development Department recently approved by lawmakers allocates $16 million for the Oregon Innovation Council (Oregon InC), the same amount as last biennium, but short of the $19 million requested by Gov. John Kitzhaber to broaden research and technology transfer programs.
Whether you are new to the tech-based economic development (TBED) field or a seasoned practitioner, SSTI's podcast interviews with experts in all areas of TBED serves as a useful learning tool. These short and "to the point" interviews delve into questions such as:
U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan recently announced that $67 million will be available for a second round of the Sustainable Communities Regional Planning Grant program.
A sluggish economic recovery, mostly due to no sustained upturn in housing activity, combined with pressures from rising commodity costs, supply-chain disruptions, and extreme domestic weather means most U.S. metros can expect only minimal job growth by the end of this year, according to a new report prepared for the United States Conference of Mayors. Job growth in 2011 is expected to reach 1.2 percent and unemployment will not fall below 8 percent until late 2013.
In a report published by United for Medical Research, a consortium of science and research medical organizations, Dr. Everett Ehrlich found that extramural research supported by the National Institutes of Health in fiscal year 2010 (FY10) led to the creation of 487,900 quality public and private sector jobs and produced over $68 billion in new activity across the country.
Using data from the Small Business Administration's Office of Advocacy, SSTI has prepared a table showing how each state (and the District of Columbia) has ranked in business churning from 2004 to 2009. Business churning is a measure of the creation of new companies and the death of existing companies as share of total firms. Churning increases as the number of new start-ups and existing business failures per year increase.
President Barack Obama recently announced the creation of a national Advanced Manufacturing Partnership (AMP) to accelerate the development of manufacturing technologies at top engineering universities. The AMP initiative, which was developed based on recommendations from a report by the President's Council of Advisors on Science and Technology (PCAST), would leverage existing programs and proposals to invest more than $500 million in university and private R&D. The partnership is being called an "umbrella" for federal innovation programs.
At the close of the 2011 legislative session in Louisiana last week, lawmakers approved three measures to encourage investment in high-tech economic endeavors. This includes renewing and enhancing the R&D tax credit and the Technology Commercialization credit and reinstating an angel investor tax credit for investment in emerging startups.
Lawmakers last week passed a measure establishing the Innovate NY Fund to invest $25 million of federal funds in technology development organizations, research universities, and seed-stage investment funds. The Empire State Development Corporation will administer the fund and establish a competitive process for evaluating applicants. Investment priority is given to companies involved in commercialization of R&D or high-tech manufacturing.
Last week, the House of Representatives passed the largest overhaul of U.S. patent law in 60 years. Under the new legislation, patent decisions would favor inventors who file for patents first, rather the the current "first-to-invent" system. The change would bring U.S. patent law more in line with the patent systems of Europe and Japan. A similar bill was passed by the Senate in March, which will be reconciled with the House bill in the near future.
Europe needs increased and "smarter" investments in both public and private research and development (R&D) to address the European Union's (EU) "Innovation Emergency," according to the European Commission's 2011 Innovation Union Competitiveness Report. The commission contends it is necessary to accelerate investments into R&D to achieve the EU's target of 3 percent of GDP being spent on R&D. EU members currently invest approximately 2 percent of GDP on R&D spending.
As the cost of a college education continues to rise and good paying jobs are seemingly scarcer than ever before, many Americans are questioning the value of a college degree. A recent survey from the Pew Research Center found 57 percent of Americans believe the U.S. fails to provide good value for the money students and their families spend, and about four in ten college presidents say the system is headed in the wrong direction. At the same time, however, studies find the lifetime earnings of college graduates to be much higher than those of high school graduates.