Gov. Tim Pawlenty recently unveiled his 2010 supplemental budget recommendations, which includes new tax incentives to boost job creation and spending cuts across state agencies to help eliminate a projected $1.2 billion deficit.
Florida's efforts to boost it's biotechnology sector may not be paying off as quickly as originally hoped. A recent report finds that the $449 million invested through the Innovation Incentive Program has yet to result in industry growth in counties where the program's grantees have their facilities. The report, published by the Florida Office of Program Policy Analysis and Government Accountability (OPPAGA), suggests that the state's lack of early-stage capital for biotech startups may be contributing to the sluggish pace of development.
Academic, industrial and federal R&D spending is surveyed annually by the National Science Foundation (NSF). Similar information regarding state R&D investments, however, only is captured periodically. The latest survey results, for fiscal years 2006 and 2007 were released this past December and used to create an SSTI Useful Stats table on state R&D intensity (see the Dec. 9, 2009 Digest). Is this information useful for state and local TBED practitioners and policy makers?
SSTI is so excited about this year's conference that we're providing Digest subscribers the first peak at the 28-page, full-color brochure while its still on the presses. It will be arriving in mailboxes by the end of the week, but is available now as a PDF by clicking either of the links below or by email request.
President Barack Obama recently outlined his administration's vision for the future of U.S. space exploration, including $6 billion in additional funding for NASA over the next five years. The new strategy would create 2,500 new jobs at Kennedy Space Center by 2012, initiate heavy-lift rocket development by 2015 and restructure the Orion crew exploration vehicle program to extend U.S. use of the International Space Station. Obama's plan also includes $40 million to help retrain workers affected by the end of the space shuttle program.
A competition for high-risk, high-reward research funding recently was announced under the Technology Innovation Program (TIP). The goal is to improve critical manufacturing processes that reduce costs, save time, increase quality or reduce waste to dramatically improve the competitiveness of process-based industries, including the biomanufacturing sector, which produces vaccines and other biopharmaceuticals. To fund the program in its first year, $25 million may be available for up to 25 projects. The deadline to apply is July 15.
In response to dwindling state funding and concerns related to leadership, focus and productivity in the state's current economic development model, Arizona Gov. Jan Brewer announced the creation of a new quasi-public state agency to focus on targeted industries such as solar, science, technology, aerospace, and defense to help the state grow jobs and remain globally competitive. The Arizona Commerce Authority (ACA) would replace the Arizona Department of Commerce, but does not assume all of its current functions.
Massachusetts ranks first in the country in patents per capita, SBIR awards and in R&D spending as a percent of gross domestic product (GDP), according to the latest version of the Index of the Massachusetts Innovation Economy. Though the report finds that the state's innovation economy is growing and, in many ways, suffered less than others during the economic crisis, it recommends taking action to increase student interest in STEM careers and to help launch new businesses.
For the fifth consecutive year, the number of international students applying to U.S. graduate schools has risen. This year, U.S. schools experienced 7 percent growth in foreign applications, the largest gain since 2007, according to the Council of Graduate Schools (CGS). Most of the growth came from applicants in China (19 percent increase) followed by the Middle East and Turkey (18 percent). Graduate applications from students in India decreased by 2 percent.
The State University of New York has released a ten-year strategic plan to help revitalize the New York state economy. One major element of the plan is increasing the university's involvement in statewide entrepreneurship through several new inititiatives, including SUNY Start-UP, which would invite entrepreneurial mentors on campus to work with students and professors, and SUNY-INC, which would align research teams across the state to accelerate the commercialization of new technologies. Read more ...
The TechColumbus TechStart Program supports and develops viable entrepreneurial companies from their earliest phase through their launch as significant economic contributors. SSTI's exclusive interview with Will Indest of TechColumbus digs deeper into the mechanics of the program to find out how the organization's impressive pipeline for entrepreneurs has led to the creation of high-wage jobs throughout the region. Download the interview ...
U.S. colleges and universities spent $51.9 billion on research and development (R&D) in 2008, according to new data from the National Science Foundation (NSF). National R&D spending increased 5 percent in 2008 over 2007 spending and 29.4 percent over the spending levels five years earlier. Between 2003 and 2008, every state except Alaska increased its R&D spending. All except Alaska, Idaho, Maine, Mississippi and Wyoming increased their spending over 2007.
The U.S. House of Representatives Committee on Science and Technology approved the America COMPETES Reauthorization Act of 2010 on Wednesday. The bill adjusts the original spending projections based on the amount authorized in 2007, while maintaining the goal of doubling funding over the next ten years. Programs affected by the reauthorization include the Innovative Technology Loan Guarantee program, the Advanced Research Projects Agency for Energy (ARPA-E) and the Regional Innovation Clusters program, among others.
Maine's 2010 legislative session wrapped up last week, ending on a relatively high note for tech-based economic development (TBED). Actions supporting TBED include a measure signed by Gov. John Baldacci to encourage venture capital investment in innovative companies and the legislature's approval of a bond package that includes $11 million for ocean wind energy demonstration sites through the University of Maine System.
Maryland legislators recently passed the FY11 budget, allocating $10.4 million for stem cell research and $8 million for tax credits for biotechnology companies. Many of the appropriations follow closely in line with Gov. Martin O'Malley's recommendations, which aim to support the Maryland BIO 2020 initiative, a statewide plan investing in biotechnology over 10 years.
Two measures, one dealing with improving access to higher education in Alaska, and another focusing on economic growth through renewable energy in Nebraska, recently were approved as part of the 2010 legislative sessions. Lawmakers in Alaska passed a measure establishing a merit-based scholarship program championed by Gov. Sean Parnell, but left funding for the program uncertain. Meanwhile, Nebraska legislators passed a bill to promote economic growth through renewable energy export.
Alaska
Venture capital (VC) funds that invest in rural and low-income regions can be as successful as those in tech-oriented metropolitan regions if they are large enough to attract high-quality deals and provide follow-on funding, according to a recent report published through the Ford Foundation's Wealth Creation in Rural Communities project.
The Office of Science and Technology Policy and the National Economic Council have extended the comment deadline for their request for information (RFI) on the commercialization of university research and proof-of-concept centers (see the March 31, 2010 issue). The new deadline is May 26. Read the announcement and original RFI ...
U.S. Secretary of Energy Steven Chu has announced that the Obama Administration will invest $200 million over the next five years to expand and accelerate the development, commercialization, and use of solar and water power technologies across the U.S.. The funding includes up to $125 million for s photovoltaic manufacturing intiative, $40 million for photovoltaic supply chain development, $4.5 million for a new national administrator for the solar instructor training network and $39 million for marine and hydrokinetic technologies.
On Tuesday, voters approved a four-year, $700 million bond to extend funding for the Ohio Third Frontier initiative through 2016. Established in 2002, the initiative offers programs for emerging and established high-tech companies, including grants for pre-seed funding, research initiatives, product development and commercialization. Read more about the program ...
A competition aimed at helping move innovative ideas from the lab into the marketplace was announced this week by the U.S. Department of Commerce's Office of Innovation and Entrepreneurship and Economic Development Administration (EDA). In partnership with the National Institutes of Health and the National Science Foundation, EDA will award $1 million each to six teams across the nation with the most innovative ideas to drive technology commercialization and entrepreneurship. NSF will award $6 million to SBIR grantees associated with the winning teams.
During the debates over the Patient Protection and Affordable Care Act, also known as the Health Care Reform Bill, there was much discussion of whether or not reform would hinder innovation in pharmaceuticals and medicine. As a result, the final legislation included some measures to support research and commercialization in the life science. One such measure, the Therapeutic Discovery Project Credit, offers a 50 percent tax credit or cash grant for qualifying research projects and small- and medium-sized companies.
Florida lawmakers last week approved SB 1752, a package of economic development incentives for industry sectors, including aerospace and small business, to promote immediate job creation and long-term economic growth. Funding for research commercialization matching grants and space industry business development are among the new incentives.
A group of Massachusetts CEOs, venture capitalists (VC) and entrepreneurs recently launched a new initiative to create new, successful companies. The 12x12 Initiative will allow successful CEOs to collaborate with entrepreneurs to develop their ideas into new businesses. The resulting "team" also would include an experienced VC and would help the companies connect to mentoring services, capital and other opportunities.
CEOs and directors of some of the nation's most successful TBED organizations agree... SSTI's Excellence in TBED Award is great way to distinguish your initiative as a best practice and inform key stakeholders of your success. In today's economic climate, we know the importance of effectively communicating the value of your program, and having national recognition to back it up can give you a competitive edge. SSTI now is accepting applications for the 2010 Excellence in TBED Awards, and we want to hear your story. Deadline to apply is June 1.