As Wall Street waited for the Dow to top 10,000, venture capital investments were also reaching a new high, according to the latest PricewaterhouseCoopers Money Tree Survey. Venture-backed investments rose to a record $4.286 billion during the first quarter of 1999, a 41 percent increase over the first quarter of 1998. The survey's previous record of $3.77 billion was set during the third quarter of last year.
Washington's technology boom hasn't been enjoyed equally by most communities outside of the Seattle or Spokane urban areas. Two laws recently passed by the Washington legislature are intended to provide tax credits, infrastructure financing, and other incentives to spread the economic benefits of technology into the state's most rural counties.
The Department of Energy has announced 16 awards under the 1999 solicitation for the Small Business Technology Transfer (STTR) Program. The following table presents states with companies and academic institutions or federal labs selected in the competition. Only five of the awards were made to projects in which the company and university are located in the same state.
Virginia's Center for Innovative Technology is seeking a new President and Chief Executive Officer. The CIT president's primary responsibility will be to assist the Secretary of Technology in implementing the Commonwealth's technology strategy by developing and directing CIT's key role in the strategy. Applications are due by June 22, 1999.
The Environmental Protection Agency and the National Science Foundation have announced approximately $5 million will be awarded in FY 2000 for grants to support research toward "Technology for a Sustainable Environment."
Entities eligible to submit proposals include universities and not-for-profit institutions. The agencies anticipate making 20 grant awards for the solicitation in January 2000. Proposals are due July 26, 1999.
Delaware increased its commitment to technology businesses recently with two new initiatives: the creation of the Delaware Biotechnology Institute and the passage of a state research and development tax credit.
Delaware Biotechnology Institute
The U.S. Departments of Agriculture and Commerce have announced their selections for the 1999 Small Business Innovation Research Program Phase I competition. The following table provides the statistics by state for both agencies. Lists of the winning firms and award information may be found on the agencies' SBIR websites at the following:
702 Vie for TIIAP Funds
Update to SSTI Weekly Digest 1/22/99 article:
The new Michigan Economic Development Corporation has released its strategic plan to increase the growth of technology-related jobs in the state. The report, State Smart: Michigan, outlines more than $6 million in new initiatives and several tax incentives to encourage technology-based growth in three key industry sectors: life sciences, information technology and advanced manufacturing.
The plan's initiatives are divided among three categories:
Last week, in contrast to the mid-April House and Senate approval of a budget resolution that is projected to result in a double digit decline in federal R&D spending by 2004, the Senate Committee on Commerce, Science and Transportation approved the Federal Research Investment Act, which would double federal basic research funding over an eleven-year period. S. 296 establishes a long-term plan for federal funding of fundamental, scientific, and pre-competitive engineering.
Cheryl Lyman, policy analyst with the State Science and Technology Institute, will be leaving SSTI today to accept a position with the Ohio Department of Commerce as its fiscal officer. Cheryl has worked with SSTI since its opening in 1996. We wish her well in her new position!
Cheryl Lyman, policy analyst with the State Science and Technology Institute, will be leaving SSTI today to accept a position with the Ohio Department of Commerce as its fiscal officer. Cheryl has worked with SSTI since its opening in 1996. We wish her well in her new position!
Robert Templin, president of Virginia's Center for Innovative Technology (CIT), has resigned. Wolfgang Tolle, managing director, has been named acting president. Patsy Brown, CIT's director of public affairs, also has left CIT.
Steve Jarvis resigned as the director of California Trade and Commerce's Office of Strategic Technology. Jeff Newman has been named as acting director.
Marty Grueber has left the Rhode Island Economic Policy Council (RIEPC) to join Battelle Memorial Institute and the Environmental Technology Commercialization Center. Beth Ashman Collins has been named director of research at RIEPC.
John Dougherty resigned his position with the Illinois Coalition to accept a job in the private sector.
Kate Latta Hoffher, senior public affairs specialist with the National Science Foundation's Office of Legislative and Public Affairs, is on detail to NSF's Experimental Program to Stimulate Competitive Research (EPSCoR) until the end of July.
Terri Adams is serving as Chief of the Science, Technology and Energy Division of the Alabama Department of Economic and Community Affairs. Martha McInnis resigned from ADECA in January.
U.S. dominance as a source of technology for other economies is in serious trouble, according to "R&D Trends in the U.S. Economy: Strategies and Policy Implications," a new report by Gregory Tassey, senior economist with the Strategic Planning and Economic Analysis Group of the National Institute of Standards & Technology (NIST).
An interagency task force of the National Science and Technology Council (NSTC) has released its findings on the state of the science and technology partnership between the federal government and universities.
The United States Innovation Partnership (USIP) reported on a recent roundtable discussion on the 21st Century Economy. The topic of the discussion was the role of states in science and technology. The roundtable highlighted "best practices" in technology-based economic development in five states (Oklahoma, Kansas, Indiana, Utah, and Pennsylvania).
The Mid-America Commercialization Corporation (Manhattan, Kansas) announced that the Eaton Corporation is donating a substantial portfolio of patented technologies for the benefit of the corporation and Kansas State University.
The number of technology degrees awarded have declined by 5 percent since 1990, according to a new report issued by the American Electronics Association (AEA). The one area in which there has been a significant increase in degrees conferred is business information systems, which increased by 24 percent.
The U.S. Small Business Administration (SBA) has announced two new programs to assist small businesses.
Y2K Loans
SBA will begin accepting applications in early May for a loan program to help small businesses with problems related to the date change from 1999 to 2000 (Y2K).
In what could be the beginning of a new trend in state economic development incentive/inducements, bills receiving bi-partisan support in the Michigan and Delaware state legislatures would address businesses= needs for more technically skilled workers by having the states pick up the students' tab for community college tuition and technical training.