To ensure funding is available in future years for students who complete a more rigorous high school curriculum focused on math and science, the legislature set aside $400 million for performance-based scholarships in the capital budget. The FY12 operating budget also includes $6 million in first-year funding for the program, which will be available to high school students graduating in 2011.
The Slovenian parliament recently approved the Resolution on the Research and Innovation Strategy of Slovenia 2011-2020, a comprehensive strategy to establish "a contemporary research and innovation system that will ensure a higher quality of life within the country." According to the UNESCO Science Report, Slovenia is drastically ahead of their counterparts in Southeastern Europe.
Getting venture capitalists to invest their limited dollars in a particular business is difficult. Entrepreneurs must aggressively pursue potential investors and use every means at their disposal to pitch their business as a future revenue generator. A recent academic article attempts to explain the role that patenting and investment by the entrepreneur's family and friends play in this interplay between investor and investee.
Karel Schubert has been appointed executive director of the Bioscience Association of West Virginia. Schubert most recently founded and is the chief executive officer of BioSynectics, a St. Louis-based bioscience firm.
J. Michael Saul, deputy director of the R.I. Economic Development Corporation, who served as interim director for a year, is stepping down. Saul had overseen the agency's capital programs such as the Small Business Loan Fund.
Speaking at the U.S. Economic Development Administration's (EDA) Southwest Region Conference on Innovation and Entrepreneurship in Albuquerque, N.M., U.S. Assistant Secretary of Commerce for Economic Development John Fernandez today unveiled a new website to connect Venture Development Organizations (VDO) in America's regions and accelerate economic development efforts that promote growth and job creation. The Regional Innovation Acceleration Network (RIAN) will bring VDOs together to share best practices and leverage resources that will strengthen regional economic ecosystems.
Florida lawmakers approved legislation to reorganize economic development efforts by establishing a new government-run agency to coordinate programs and adding divisions to the public-private partnership, Enterprise Florida. Within the newly created Department of Economic Opportunity, lawmakers established a trust fund and approved $125 million for strategic investments.
Lawmakers added another five years to the life of a bioscience program established in 2008 to encourage bioscience research and speed technology commercialization (see the May 14, 2008 issue of the Digest). Gov. John Hickenlooper this week signed into law HB 1283 extending the state's Bioscience Discovery Evaluation Grant program through July 2018.
Often overshadowed in the media by state budget deficit reporting, city fiscal conditions are rapidly declining and expected to worsen through 2010 and beyond, finds the National League of Cities (NLC) annual survey. Additionally, pessimism about the ability to meet city fiscal needs is at its highest level in the history of NLC's 24-year survey on city fiscal conditions.
The current fiscal pressures on regional technology-based economic development initiatives have been never greater than they are now. And, as the article above points out, things are going to get worse over 2010 and 2011 before they get better.
Additionally, since local communities became proactive partners with their universities, businesses, tech councils, civic organizations, and states to support economic growth through innovation, the need for local TBED never has been greater. Economists and policy wonks agree: the next economy is being built on innovation and technology.
The U.S. will not be able to achieve its goals for human space flight unless substantial changes are made to NASA's plans for the next decade, according to a report from the U.S. Human Space Flight Plans Committee. The report's conclusions and recommendations, if they are adopted by the Obama Administration, would have significant impacts on those state and local TBED initiatives focused on NASA installations, space science, and the aerospace industry.
This year as states were wrestling with significant deficits, several proposals to consolidate TBED initiatives with other units of government emerged. The most recently decided was in Connecticut, where the General Assembly did not move forward with a plan to merge the state's two primary financing agencies, Connecticut Innovations and the Connecticut Development Authority to form a new Connecticut Economic Innovations Authority. Gov. Jodi Rell had proposed the consolidation.
Halfway through its money and its first decade, Ohio's Third Frontier Initiative has helped generate a $6.6 billion impact for the state, according to an independent assessment released by the Ohio Department of Development (ODOD) on Tuesday. The report also credits the initiative's investments for creating 41,300 jobs within Ohio over the past five years.
The Advanced Research Projects Agency - Energy (ARPA-E), housed at the U.S. Department of Energy, has released a Request for Information (RFI) to assist the development of its future funding opportunities and initiatives. Public and stakeholder ideas are needed in two categories:
Once again, SSTI's annual conference continues to be the most affordable professional development event of the year for the state, local, and university-based TBED community. Early registration discounts, which knock off $100 from the lowest prices already in the field, will expire Sept 29. Make the smart investment for your TBED program and your career by registering today. More information, including a registration form, is available at: http://www.ssticonference.org
Earlier this month, the Inter-American Development Bank (IDB) approved $750 million in financing over the next five years to Argentina's federal government for the country's Technology Innovation Program.
Argentina's R&D intensity as gauged by the ratio of R&D expenditures to GDP has increased in recent years, from 0.4 in 2003 to 0.51 in 2007. However, compared to a R&D intensity of 2.3 percent of GDP for OCED countries, Argentina lags considerably behind.
The United States Army has unveiled a new competition to foster the development of software and services that will be of use to the military. Apps for the Army would help speed the development process for Defense IT projects by providing an incentive for the military community to participate in creating innovative applications. Officials say that the program will help tap into the work already being done by military personnel to design software that is tailored to the demands of the battlefield.
President Obama has named Ron Bloom as the administration's senior counselor for manufacturing policy. Since, February, Bloom has been a senior adviser to Treasury Secretary Timothy Geithner, and he sits on the president's automotive industry task force.
The national recession that began at the end of 2007 is "very likely over," according to Federal Reserve Chairman Ben Bernanke. Recovery, however, may be a long way off. Because states were affected differently by the economic downturn in both timing and impact, recovery for state and local economies is likely to occur at different times. Moody's Economy.com predicts, according to an MSNBC article, that job growth will return first in five states: Colorado, Idaho, Oregon, Texas, and Washington.
The Obama administration's interest in directing more federal support to innovation and research was evident very early in the President's first weeks in office with more than $100 billion of the Recovery Act funding going toward innovation, education and research infrastructure. Earlier this week, the National Economic Council and Office of Science & Technology Policy released a brief report presenting the guiding principles and priorities for the administration's innovation agenda.
Companies backed by venture capital grew their revenue and employment numbers at a much higher rate than other businesses in recent years, according to a report from the National Venture Capital Association (NVCA). Between 2006 and 2008, revenue at U.S. venture-backed companies increased by 5.3 percent, while total U.S. business revenues grew by only 3.5 percent. Employment at venture-backed companies grew by 1.6 percent during that same period, compared to 0.2 percent in the overall U.S. private sector. Last year, venture-backed companies accounted for 11 percent of U.S.
The differences in economic performance among the metropolitan areas with the largest populations are vast, as a few metros already are emerging from the recession and others are in danger of being left behind, according to a recent brief by the Brookings Institution. To be issued every quarter, last week's MetroMonitor: Tracking Economic Recession and Recovery in America's 100 Largest Metropolitan Areas examines changes in employment, unemployment rate, gross metro product (GMP), housing prices and foreclosed properties through the end of June 2009.
Each year, Southern Growth Policies Board honors Southern initiatives that are improving economic opportunities and quality of life in the region. The 2010 Innovator Awards will be chosen from creative initiatives in the region that aim to help communities recover from the recession. Innovator Awards are presented annually to one organization in each of Southern Growth's 13 member states, and winners are recognized at Southern Growth's Annual Conference. The deadline for nominations is Nov 6.
The number of U.S. patents per employee decreased in 43 states from 2003 to 2007, as patents per employee for the U.S. as a whole declined by 10.3 percent over the same five-year period. To track this metric, SSTI has prepared a table calculating the number of patents issued by the U.S. Patent and Trademark Office (USPTO) per 100,000 employees for each state. The table also displays the relative ranking of each state from 2003 to 2007, as well as each state's five-year percent change.