The annual convention for the Biotechnology Industry Organization (BIO) provides an opportunity each year for many attendees to announce new initiatives and reports in the field of life science research and bio-related TBED – sometimes blockbuster initiatives trying to create the most buzz during and after the event.
With the recent news that initial public offerings and mergers and acquisitions for venture-back companies are becoming scarce, many are anticipating a national venture capital crisis. A lack of exit opportunities could lead angel and venture investors to become more hesitant to invest at any stage of venture development as they seek opportunities that produce a return in the foreseeable future.
Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.
This afternoon, Pennsylvania Gov. Edward Rendell signed a $650 million package of tax incentives, loans and grants to spur the development and use of clean energy technologies within the state. The governor believes that the bill will help the state leverage as much as $3.5 billion in private investment and help the state build a stronger clean energy industry. Highlights from the Alternative Energy Investment Act include:
Gov. Jennifer Granholm today signed legislation creating Centers of Energy Excellence, a program designed to bring companies, academic institutions, and the state together to create jobs in alternative and advanced energy. The initiative, passed with overwhelming bipartisan support, is part of an overall job creation and economic stimulus package proposed by the governor in her State of the State address earlier this year (see the Jan.
National Governors Association
Compiling award and proposal statistics by state for fiscal year 2007, SSTI finds the 10 states with the most awards in FY 2007 were California (1201), Massachusetts (731), Maryland (342), Virginia (322), New York (297), Texas (269), Colorado (254), Ohio (240), Pennsylvania (211) and Washington (160). Compared to the top states for FY06, Maryland moved into the third spot from sixth last year, pushing Virginia to fourth place. New York climbed from eighth place to fifth place, and Texas, Colorado and Ohio each fell from their position last year.
The U.S. Department of Energy and the National Science Foundation recently announced that the U.S. had completed its contribution to the international Large Hadron Collider (LHC) Project on budget and ahead of schedule. By the end of the year, the LHC at the European Organization for Nuclear Research (CERN) laboratory near Geneva will generate its first particle collisions and research output. Total U.S. contribution to the project is about $531 million of the $5.89 billion cost of the project. Although the U.S.
Summer camps focusing on science, technology, engineering and mathematics (STEM) fields are typically designed to spark youth interest and introduce students to career options in these critical areas. However, a vital component of these programs is exposure to scientific challenges that many classroom settings cannot provide.
Cynics will tell you politicians rarely let facts get in the way of their policy positions and one doesn’t have to look terribly hard to find anecdotal evidence to support that conclusion. One hopes – expects, even – in most cases, however, that elected officials have people more grounded in reality working for them in the trenches of the state or federal executive branch.
In perusing SSTI Weekly Digest articles related to approved and enacted budgets over the last several months, it is evident a majority of governors and legislators are supporting TBED initiatives through increased or maintained funds despite a bleak fiscal outlook in the coming years. However, state spending is expected to decrease over the next fiscal year and beyond.
Several bills from the 2008 legislative session were signed into law by Gov. Ed Rendell during the past two weeks, including the fiscal year 2008-09 budget, providing enhancements to K-12 programs encouraging science, technology, engineering and mathematics (STEM) and a measure to significantly expand the Keystone Opportunity Zone (KOZ) tax incentive program.
North Carolina legislators approved last week the fiscal year 2008-09 budget adjustment, providing additional funds for several TBED initiatives within the higher education system. Earlier this year, Gov. Mike Easley unveiled recommendations to use surplus funds to expand university projects aimed at supporting TBED (see the May 14, 2008 issue of the Digest).
Last week, Ohio Gov. Ted Strickland signed an executive order that immediately allows all U.S. veterans eligible for the Montgomery GI Bill, their spouses, and their dependents to enroll at in-state tuition rates at Ohio’s public colleges and universities. Titled the Ohio GI Promise, the policy effectively allows all U.S. veterans to attend college for free in Ohio, once the new federal GI bill goes into effect on Aug. 1, 2009.
Though the state of Florida has aggressively pursued research investment over the past few years, particularly in the life science, a new report finds the state is still struggling to build a sufficient pool of highly-skilled workers for its high-tech companies. The study, which was conducted at the behest of 19 local economic development organizations, finds the state has not yet made a complete transition from an agriculture- and real estate-based economy to one built on high-tech industry and innovation.
Collaborative research, particularly federally funded R&D, is playing an increasingly significant role in producing the top innovations each year, according to a new analysis released by the Information Technology and Innovation Foundation (ITIF). Where Do Innovations Come From? Transformations in U.S. National Innovation System, 1970-2006 shows a dramatically diminishing role for the largest firms acting independently to fuel future technological advances.
A delegation of Automation Alley representatives recently traveled to the White House to receive the 2008 "E" Award for exporting. The Presidential 'E' Award was created by President John F. Kennedy in 1961 to recognize persons, firms or organizations which contribute significantly to increase U.S. exports.
Steve Bazinet has been hired as executive director of the Maine Center for Enterprise Development.
Rahindra Bose is Ohio University's new vice president for research and creative activity and dean of the graduate college.
A consortium of Michigan’s 15 public universities recently announced a decade-long initiative to launch 200 new businesses in the state. The Michigan Initiative for Innovation and Entrepreneurship (MIIE) plans to raise and distribute $75 million over the next seven years through grants for commercialization projects, university-industry partnerships and entrepreneurship education.
Searching for good reasons to support localized college scholarship programs for urban residents? A recent working paper from the Federal Reserve Bank of New York provides convincing evidence: a one point increase in the percentage of residents with a college degree is associated with a 2.3 percent increase in a metro area's gross domestic product (GDP) per person.
Every year, the U.S. Census Bureau compiles data at the national and state levels describing the performance of the manufacturing sector within the U.S. While the data are usually included in the Census’ Annual Survey of Manufacturers, every five years the data can instead be found in the U.S. Economic Census.
Being associated with the premiere professional development event of the year for the nation's technology-based economic development community can yield tremendous returns for your company, organization or program. Exposure and unrivaled networking opportunities are presented through SSTI's annual conference -- broadening the reach and deepening the impact of your marketing dollars. Last year’s sold-out conference included more than 350 representatives from 48 states and four countries.
The full-color, full-conference brochure will hit the streets next week but we wanted to give Digest readers the first peek at what promises to be a very special event for the technology-based economic development (TBED) community. SSTI’s 12th Annual Conference will be held Oct. 14-16, 2008, at the Intercontinental Hotel Cleveland.
Last month, Gov. Jennifer Granholm announced legislative approval of two TBED priorities unveiled during her State of the State Address, a program supporting in-state entrepreneurs and continued investment in an initiative to train displaced workers.