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.
A new strategic plan focusing on the North Carolina Department of Commerce's four cornerstones of economic development success – a globally competitive workforce, investment in science and technology, a competitive business climate, and attractive communities prepared for economic development – has been released by the state's Economic Development Board.
With the passage of HB 675, the FY 03-04 Capitol Budget Bill, the Ohio Legislature approved funding for a $100 million Innovation Ohio Revolving Loan Fund and a second $50 million installment for the Wright Brothers Capital Fund. Both measures are key components of Ohio's $1.6 billion 10-year Third Frontier Project — the state's largest-ever commitment to expanding high tech research capabilities and promoting start-up companies to build high wage jobs.
Nearly $1.5 million in grants from the OneGeorgia Authority will go toward specific initiatives promoting technology-based economic development in Georgia. The awards are part of almost $7.5 million in grants and loans being awarded to 16 of the state's most economically distressed communities.
Since reaching a high point of almost 27,300 in 1998, the number of science and engineering (S&E) doctorates has dropped by 7 percent to just over 25,500 in 2001, reports a 2001 nationwide survey conducted for the National Science Foundation (NSF). The decline since 1998 has led to a rollback of total Ph.D.s to pre-1994 levels, the report states.
Cluster-based economic development has grown in popularity, but this has not always translated well for rural regions. Many rural areas do not possess the infrastructure necessary for many high-technology industries, and most areas face two major disadvantages — an inability to achieve economies of scale and possess or create a specialized division of labor; and the relocation of the labor force away from rural areas.
Many organizations are wondering if, when and how severe their budgets could be impacted by the economy and the continuing fiscal crises in the states. While foundation endowments also have taken a hit by the stock market slump, several are increasing their contributions in building local or statewide technology-based economies. Two recent examples highlight the trend and point toward a funding path few TBED efforts have fully tapped.
The National Science Foundation (NSF) plans to fund $9 million in new FY 2003 awards under the Partnerships for Innovation (PFI) Program, according to the program solicitation's recent release. To promote PFI, NSF will sponsor 15-25 partnerships among academe, government and the private sector that explore new approaches to innovation.
The purpose of the program, as defined in the PFI solicitation, is threefold:
SSTI continues a series begun in last week's Digest, highlighting key economic development and science & technology positions being filled by some of the nation's 24 new governors. Many of these individuals are expected to help set the state's tech-based economic development agenda and determine budget cuts, reorganization plans or program eliminations.
Whether you use Outlook, Palm, Day-Timer, Filofax, or Post-Its to keep track of the items on your "To Do" list, make sure these two items on your lists to be wrapped up by next Tuesday, Sept. 20:
While biotechnology focused on medical applications garners most of the attention, agricultural biotechnology is a high priority for a number of states. But ag biotech has generated significant concerns in some regions because of its emphasis on genetically modified organisms (GMOs).
Over the past few years, annual surveys from the National League of Cities (NLC) have reported grim findings on the fiscal status of cities across the nation with little hope for turnaround in the near future.
The average budgets for local and regional economic development organizations fell nearly 3 percent between 2004 and 2005, according to the second annual survey by ACCRA.
University R&D is considered a fundamental element of innovation and technological competitiveness. If R&D spending equates to more R&D, then the 10 percent increase between 2002 and 2003 as reported by the nation's academic community to the National Science Foundation (NSF) would be a rosy sign for America's future.
Over the period 1998-2003, Oregon saw the largest percent change in its academic R&D expenditures funded by industry sources, according to the National Science Foundation's latest survey (see the above story).
The National Governors' Association (NGA) is urging leaders of the House and Senate Commerce-Justice-State (CJS) Appropriations Subcommittees "to maintain the federal government's share of support for the Manufacturing Extension Partnership (MEP) in the fiscal year (FY) 2003 appropriations."
If states are to emerge from the recession stronger than when they went in, state policymakers must make long-term investments in economic fundamentals such as a skilled workforce, technological capacities and quality amenities, reports the Corporation for Enterprise Development (CFED). They also need help from the federal government, according to the 16th annual Development Report Card for the States by CFED, a nonpartisan Washington-based think tank.
Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP), an independent nonprofit economic development organization, has announced the Commonwealth of Pennsylvania's $2 million commitment to establish the Ben Franklin Investment Partners venture guarantee revolving fund. The fund is the first such development financing vehicle of its kind in the U.S.
U.S. companies had $199.5 billion in R&D investment in 2000, a 9 percent increase over the 1999 total, according to the annual Survey of Industrial Research and Development published by the National Science Foundation (NSF). The survey data is presented in a recent NSF InfoBrief, which shows the total industrial R&D increase to be 7 percent after adjusting for inflation.
The challenges of creating a cluster of companies in related technologies, both the processes and factors for influencing cluster development, are different than the requirements for maintaining the cluster, concludes "Old Economy" Inputs for "New Economy" Outcomes: Cluster Formation in the New Silicon Valleys. The paper contests cluster development is a combination of elements of both new economic theory focusing on increasing returns and old economic theory, which concentrated
Several of the key economic development and science & technology positions have been filled by some of the nation's 24 new governors. Many of these individuals will be involved in setting the state's tech-based economic development agenda and determining budget cuts, reorganization plans or program eliminations to handle the money squeeze. In addition, a few other lead S&T agencies have announced top-level changes.
With the passage of the state's biennial budget, North Carolina's small businesses are now eligible for follow-on support from the state for research projects funded under the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
Two initiatives aimed at closing the digital divide, particularly among low-income Americans, were announced earlier this month.