The latest annual report on state higher education finance by the State Higher Education Executive Officers finds that state and local per student spending fell to its lowest point in 25 years last year. Rising enrollment and stagnant appropriations contributed to the decrease in per student spending.
A new prototype website allows users to track R&D grants and awards from federal agencies. The current version provides publicly reported federal agency data from the National Science Foundation and the National Institutes of Health from 2001 to 2010. It also provides output data on patents, patent application and publication. Future updates will integrate the site with all federal agency databases and additional output data. Visit the site...
Metropolitan areas with population densities of about 4,000 people per square mile tend to produce the highest rate of patenting, according to a recent article in the American Journal of Economics and Sociology. In a study of U.S. metro areas over a ten-year period, the authors found that metro population density has a significant positive correlation with patenting rates.
Connecticut Gov. Dannel Malloy named ING executive Catherine Smith to lead the Department of Economic and Community Development.
New York Gov. Andrew Cuomo nominated Julie Shimer, the president and CEO of Welch Allyn, a medical diagnostics equipment manufacturer, to chair the Empire State Development Corp. She would join Kenneth Adams, ESCD's president, at the agency.
The FY12 Business, Economic Development and Labor budget approved by lawmakers includes $25.7 million for USTAR, the state-funded initiative to grow a knowledge-based economy. This is the same amount recommended by Gov. Gary Herbert, but down from FY11 projected spending of $35.4 million. That amount included some ARRA funding from previous years, however. Research Teams will receive $23 million and $1.9 million is slated for Technology Outreach.
Leasing the state's wholesale liquor distribution system to JobsOhio to provide a dedicated funding source of about $100 million annually for job creation is a key component to reforming Ohio's economic development efforts under Gov. John Kasich. The governor unveiled the plan last week as part of the 2012-13 biennial budget. The proposed budget also sets aside $33 million in the second year of the biennium to facilitate the transfer of economic development initiatives from the Ohio Department of Development (ODOD) to the newly established nonprofit corporation.
Much like Travelocity's Roaming Gnome, SSTI's Excellence in TBED vase is known to get around. Recently, it was spotted on the campus of the University of Maryland, posing with Kermit the Frog and UM grad Jim Henson, at the Maine State House in Augusta, proudly on display in the offices of JumpStart in Northeast Ohio, and posing with the staff of the Washington Technology Center. Where will it turn up next? Follow us on facebook to find out! http://www.facebook.com/ssti.org. The 2011 awards kick off May 17.
With the Senate in recess, debate over SBIR/STTR reauthorization has been temporarily put on hold for the week. The reauthorization act has landed at the center of a larger congressional debate over federal spending, due to the more than 80 amendments that have been submitted for consideration. Most of these amendments propose spending cuts unrelated to SBIR. The main text of the bill would extend the SBIR and STTR programs through 2019 and increase award levels for Phase I and Phase II awards.
"The new frontier of effective worker education lies in combining classroom and workplace education to produce a hybrid of technical knowledge and hands-on skills," according to a report from the Center for American Progress — Delivering Innovation Economy Skills While Wisely Using Public Funds. The report contends that the U.S.
Science Foundation Arizona (SFAz) has stimulated the state's job creation and increased the amount of additional funds leveraged, according to a report by Battelle. In 2010, SFAz-funded programs led to over 1,150 new jobs, 84 patents and 16 new companies. For every $1.00 awarded by SFAz, an additional $3.06 was matched by an outside source (e.g., federal grants, industry, and venture capital). SFAz's leveraging has increased progressively over the last three years.
Ohio Gov. John Kasich named James Leftwich as the director of the Ohio Department of Development, effective March 25. Leftwich has worked at the Dayton Development Coalition for six years, including three years as president and CEO. Leftwich will take the post previously held by Mark Kvamme, a California venture capitalist named the state's development director in January. Kvamme was appointed director of Job Creation within the governor's office, effective immediately.
Lawmakers approved many of Gov. Bob McDonnell's proposals aimed at growing Virginia's technology and life sciences industries by dedicating about half of the funding requested by the governor to support R&D, commercialization, SBIR matching grants, and funding for early stage equity investments.
Established to focus solely on job creation and replace the state's Department of Commerce, Wisconsin's new public-private partnership would receive nearly $200 million over the next two years for operating expenses and to administer economic development programs. Lawmakers also will consider measures to improve existing tax programs focused on enhancing angel investments and eliminating capital gains taxes during the upcoming legislative session. Gov.
The U.S. economic crisis spurred more Americans to become entrepreneurs than at any point in the last 15 years, according to the 2010 edition of the Kauffman Foundation's Index of Entrepreneurial Activity. The study found that 340 out of every 100,000 Americans started a new business each month in 2010, approximately the same rate as 2009, but an increase over the pre-recession period. Many of these new entrepreneurs, however, are not creating new jobs through their startups.
With the number of startups on the rise, several states and cities are reaching out to entrepreneurs to connect them with the assistance and capital they need to survive.
Indiana
In a recent speech in front of China's National People's Congress, China's Premier Wen Jiabao outlined the country's 12th five-year plan (2011-2115). The plan will focus heavily on boosting consumption through sustainable growth fueled by renewable energies and state support of strategic, emerging industries. Expenditures on R&D should reach 2.2 percent of GDP. Much of this R&D investment will be targeted in three sectors — healthcare, energy and technology.
Basic biomedical research has a greater academic impact and clinical research a greater societal impact over a 15 to 20 years timescale, according to the findings of Project Retrosight — a multinational, four-year study from RAND Europe and the Health Economics Research Group (HERG) at Brunel University. This study was based on data collected from 29 case studies on basic biomedical and clinical cardiovascular and stroke grant-funded, research projects in Australia, Canada and the United Kingdom.
During the campaign trail and in speeches delivered during their first few weeks in office, governors in Florida and Nevada announced plans to overhaul economic development efforts without providing many details on how the new systems would operate. Draft legislation recently was introduced in the respective states, providing some insight on the structure and governance of the proposed agencies.
George Osborne, the UK's Chancellor of the Exchequer, announced the country's 2011 budget including the "Plan of Growth," a package of measures intended to support private sector investment, enterprise and innovation. Several initiatives highlighted in the Plan of Growth include:
Budgets recently approved in West Virginia and Wyoming will dedicate new funds for TBED initiatives in the coming year. TechConnect West Virginia is slated to receive $250,000 for its efforts to develop immediate and long-term strategies to capitalize on the state's technology strengths.
George Osborne, the UK's Chancellor of the Exchequer, announced the country's 2011 budget including the "Plan of Growth," a package of measures intended to support private sector investment, enterprise and innovation. Several initiatives highlighted in the Plan of Growth include:
Akron Mayor Don Plusquellic announced the plans to form the "Akron Development Corporation Seed Fund" in his State of the City address on Tuesday. The fund, with backing from corporate sponsors, aims to attract biomedical companies to the region. Companies receiving investment would locate in the Akron Global Business Accelerator. Read the announcement...
Recent announcements of new and emerging technology incubators range from Google's selection of Cape Town, South Africa to launch a pilot incubator supporting technology entrepreneurs that it hopes to replicate globally to Alabama Gov. Robert Bentley's plan to create a statewide business incubator focusing on workforce training. Select announcements from across the globe are highlighted below.
Innovative firms rely on global pipelines and communication more than local interactions to increase their innovative capacity, according to a working paper by Rune Dahl Fitjar and Andres Rodriguez-Pose. The authors examine the practices of 1604 firms in the five largest urban regions of Norway, and find that international cooperation is the main source of product and process innovation.