To support the growth of Northeast Ohio’s entrepreneurial ecosystem, The Greater Cleveland Partnership (GCP) announced a limited-partner investment in JumpStart's new for-profit $20M venture capital fund.
Nearly 10 million people are expected to participate in events during this year’s Global Entrepreneurship Week, launched November 16 by the Global Entrepreneurship Network (GEN). The first Global Entrepreneurship Week was held in 2008 with representatives from 37 countries. Now in its eighth year, more than 160 countries across the world will hold entrepreneurship-related events during the week. Although activities vary greatly in size and scope, they generally touch on three themes:
California-based companies performed about $81.7 billion in research and development (R&D) in 2012, according to the latest data available from the National Science Foundation (NSF). That figure represents about 27 percent of all private R&D funding in the U.S. Not all of that funding, however, derived from the companies themselves. The federal government provided about 9.3 percent of the funds for California-based company R&D in 2012.
In his 1962 State of the Union address, John F. Kennedy said, "The time to repair the roof is when the sun is shining." Despite its foggy reputation, perhaps no region has had the sun shine on them more economically since that speech than California’s Bay Area. Currently, in spite of its strengths as a hub for talent, research, and innovation, the Bay Area lacks a cohesive and comprehensive regional economic strategy for sustaining economic growth, weathering business cycles and supporting shared prosperity.
Toyota Motor Corporation recently announced a five-year, $1 billion investment in robotics and artificial intelligence R&D in the U.S. Under the plan, a headquarters for the effort will be located near Stanford University in Palo Alto, CA with a second location near the Massachusetts Institute of Technology in Cambridge, MA. Dr. Gill Pratt, former program director at the Defense Advanced Research Projects Agency (DARPA) will lead the effort.
The development of common metrics is increasingly used at the state and regional level as a method to ensure the coordination of likeminded stakeholders. While choosing which metrics to use is at the root of this process, identifying ways in which to communicate this information to interested parties is also important. With an emphasis on innovation and entrepreneurship, this article highlights the ways in which governments and nonprofits are using dashboards to highlight their successes, identify their shortcomings, and gather data to inform next steps.
As a part of the Obama administration’s Big Data Research and Development Initiative, the National Science Foundation (NSF) announced four awards this week, totaling more than $5 million, to establish four Big Data Regional Innovation Hubs (BD Hubs). The four BD Hubs divide the U.S. into regional collaborations, each focused on different Big Data challenges:
Last week, the U.S. Small Business Administration (SBA) released a combined synopsis/solicitation with the intention of awarding up to three contracts for entities to head regional innovation cluster initiatives. SBA intends to make three awards including one to an entity that will provide cluster initiative services to a community affected by changes in the coal economy.
The National Marine Fisheries Service (NMFS) is accepting applications for the FY96 round of the Saltonstall-Kennedy (S-K) Grant Program. The S-K grant program supports research and development projects that address various aspects of commercial and recreational fisheries including harvesting, processing, and marketing. The program focuses on rebuilding U.S. fisheries for sustainable use. The FY96 base funding for this program is approximately $7.0 million.
The National Renewable Energy Laboratory (NREL) this week issued a solicitation for Phase II of its Sustainable Technology Partnerships (STEP) initiative. Phase I of STEP was created in 1994 as a pilot project.
STEP I offered states matching funds to gain access to NREL expertise. During phase I, 14 contracts totaling over $3 million were awarded. Projects focused on several technologies, including wind, biofuels, and alternative fuels.
Funds available for the federal Small Business Innovation Research (SBIR) Program are estimated to top $1.1 billion in FY97 if the President’s budget request is enacted. With FY96 budget appropriations still pending for some agencies, SBIR managers are hesitant to project FY97 set asides for their programs, but in interviews with SSTI staff, the managers provided projections for FY97 based on the President’s budget request.
The State of Illinois recently announced a new World Wide Web site that provides Illinois firms with a means to quickly locate the technical and business assistance available in Illinois.
The West Virginia Legislature recently approved a bill to create the West Virginia Science & Technology Policy Advisory Board. The 11- member board will be appointed by the Governor and is expected to:
Earlier this month, President Clinton signed legislation designed to ease the transfer of federal technology by providing clarification on intellectual property rights and offering incentives to federal laboratories and their researchers. The National Technology Transfer and Advancement Act of 1995 (H.R. 2196) was sponsored by Rep. Morella (R-Md).
While Congress and the White House continue to try to resolve differences on the FY96 federal budget, the Clinton Administration has released its detailed budget proposal for FY97.
The FY97 budget proposal calls for increasing spending on R&D to $72.3 billion in FY97, up from $71.5 billion in FY96.
Programs of particular interest to the states by federal agency are:
Department of Commerce
Clinton is expected to sign an emergency spending bill later today that will keep the government in operation through next Friday, March 22. Without the bill, parts of the government would have shut down for the third time this fiscal year.
Almost halfway through federal FY 1996, nine government departments are operating on temporary spending authority. Agencies that are affected include the Department of Commerce, the Environmental Protection Agency (EPA), NASA, and the National Science Foundation.
The General Accounting Office (GAO) released a report on the implementation of the Small Business Technology Transfer (STTR) Pilot Program. STTR is closely modeled after the Small Business Innovation Research (SBIR) program with one notable exception: in the STTR Program, a small business must collaborate with a nonprofit research institution, such as a university. This collaboration is permitted but not required under SBIR.
The program began in FY1994 as a 3-year pilot and the authorizing legislation required that GAO report on the implementation of the program.
Colorado Gov. John Hickenlooper released his administration’s $27 billion budget request for fiscal year 2017, which includes significant refunds for taxpayers and reductions for higher education, hospitals and state buildings.
On April 5, 2012, President Obama signed Jumpstart Our Business Startups Act (JOBS Act) into law with the intent of helping small businesses and startups raise capital through several changes to long-standing securities regulations, including a change that would allow companies to raise equity from both accredited and non-accredited investors through a publicly solicited crowdfunding campaign (Title III of the Jobs Act).
The Research Foundation for State University of New York (SUNY) is seeking feedback regarding the translation of SUNY research and innovation into meaningful startup company formation, acceleration and growth through targeted venture investing. In particular, the foundation seeks ideas on how SUNY could connect research experts to entrepreneurial leaders, advisors, or mentors in order to build upon emerging industry sector strengths.
In an effort to increase the proliferation and participation of venture capital firms across the 28-nation European Union, changes are needed at the institutional level, according to the capital markets union plan unveiled last month.
On Friday, November 6, at 10:00 A.M. ET, the Economic Development Administration will host a conference call for economic development organizations that are interested in participating in Hannover Messe 2016 – the world’s largest trade show for industrial goods, technology, and R&D. The conference call agenda includes information on U.S. Industry Pavilions for SMES/Export Services; the show’s Research & Technology Pavilion; and, a Q&A with SelectUSA, U.S.
The Delta Regional Authority (DRA) announced the establishment of a consortium for research and innovation that is intended to have a long-term positive economic impact on the region. The 35-member consortium will be comprised of universities and other private and public institutions in eight states – Alabama, Arkansas, Illinois, Kentucky, Louisiana, Mississippi, Missouri, and Tennessee.
Although the United States remains among the world’s most competitive nations, its ability to effectively deliver quality math and science education hinders its competitiveness, according to the most recent edition of the World Economic Forum’s Global Competitiveness Index. New commitments ranging from the White House to the philanthropic sector offer opportunities to increase the capacity for American schools to engage in additional STEM activities.
Tennessee Gov. Bill Haslam recently announced a new fund to support economic development in rural parts of the state. While most of the $8 million (approximately $7 million) is designated for shovel-ready economic development sites and tourism projects, the state will commit $600,000 for economic development grants to support entrepreneurship in small towns across the state including $300,000 to support a Main Street Business Incubator Program for downtown business districts.