Search

Low-income students in the Dallas County Community College District (DCCCD) will be among the first allowed to use federal student aid to enroll in programs offered by nontraditional educational providers. The providers — including coding bootcamps, online courses, and employer organizations — are partnering with accredited colleges or universities through an experimental program called Educational Quality through Innovation Partnerships (EQUIP). The U.S.

The European Commission and European Investment Fund announced the creation of VentureEU – a fund-of-fund initiative intended to increase the availability of venture capital for the continent’s startup community. Through the VentureEU effort, the EU will invest approximately €410 million (approximately 507.8 million USD) across six funds run by established European fund managers.

In February, SSTI highlighted several state-led efforts to address the rural broadband gap, which affects more than 30 percent of rural America who currently lack access to adequate broadband service.

Startups and small businesses raised $30 million during the first year of equity crowdfunding (also known as regulation crowdfunding or Reg CF) with an average of $289,000 raised in a successful campaign, according to a recent report published by the Small Business Administration’s (SBA) Office of Advocacy.

After more than a decade of supporting regional economic development efforts, philanthropic communities in Southeastern Michigan and Northeastern Ohio are changing course to focus on economic inclusion and broader prosperity efforts. In the wake of the Great Recession, the Cleveland region’s Fund for Our Economic Future (The Fund) and Metro Detroit’s New Economy Initiative (NEI) became notable examples of philanthropic partnerships that emphasize economic diversification through innovation, entrepreneurship, and workforce development. Both initiatives recently unveiled plans for their next phases.

While nearly all (98 percent) of U.S. public school districts offered career and technical education (CTE) programs in the 2016-17 school year, such programs differed between rural and city districts and faced barriers to participation from both the districts and students. Rural districts are much less likely to have work-based learning activities as a part of their CTE programming, according to a new report from the National Center for Education Statistics.

As hearings for the annual National Defense Authorization Act (NDAA) begin this week, a report by the “Section 809 Panel” is likely to influence the bill’s acquisition provisions. The panel, authorized by the FY 2016 NDAA, has emphasized efforts the Department of Defense can implement to work better with innovative small businesses, including simplified contracting and strengthening SBIR.

The new four-year strategic plan for NASA provides a foundation to return to the moon “for long-term exploration and use” as well as creating a base for “eventual crewed missions to Mars and potentially beyond.”

In 2017, 25.7 percent of all angel capital group deals went to a founding team with at least one female founder, up from 17.0 percent in 2016, according to the Angel Resource Institute’s (ARI) HALO Report: 2017. The report also found a sizeable increase in the number of deals made for companies that included at least one minority female founder – 5.5 percent in 2017 (1.0 percent in 2016).

Last year, the National Institutes of Health (NIH) considered multiple strategies to address the implicit bias toward researchers with ‘proven track records’ during its existing grant making process.

A Securities Exchange Commission (SEC) report contains over 20 recommendations for the SEC to consider that would improve small business capital formation. The report, released in April, stems from the 36th annual Government-Business Forum on Small Business Capital Formation – a daylong event held late last year.

A change in policy at the Mayo Clinic has “single-handedly sprouted a startup ecosystem in Rochester, as med-tech startups, accelerators, co-working spaces and a venture capital ecosystem have flourished in the area over the last half decade” according to new research by Maddy Kennedy of the The Minneapolis/St. Paul Business Journal.

Declining enrollments, higher costs and limited state funding continue to challenge higher education institutions, and possible mergers continue to surface as an option to meeting those challenges. In Pennsylvania, a new study sponsored by the Pennsylvania Legislative Budget and Finance Committee identifies options to help ensure the sustainability of the State System of Higher Education, and mergers factor into those considerations.

Earlier this month, the Bureau of Economic Analysis (BEA) published its 2017 estimates on state-level real gross domestic product (GDP). Per-capita gross product is a useful metric because it can show a state’s relative performance against its peers and over time. SSTI has prepared a spreadsheet showing 10 years of real per capita gross product by state, as well as an interactive map showing changes over the 1-year, 5-year, and 10-year periods. As more data becomes available, a future Digest issue will cover this topic at the metropolitan level. 

Both the House and Senate are beginning the appropriations process for FY 2019 this month, and early indicators suggest that EDA’s Regional Innovation Strategies program could see an increase over its $21 million for FY 2018.

While the increasing gaps between the coasts and the heartland continues to capture the media’s attention, a collection of recent research suggests that inequality within regions may be the greatest factor hampering economic growth. Five recent articles tell a nuanced story of how economic and racial inequities may impede regional economic development efforts. The research presented here from a variety of outlets examines the role of inequality in the overall economy of regions.

One of this year’s most important books on economic development tells a story that those involved in the field need to know and might not necessarily want to hear. In Coping with Adversity: Regional Economic Resilience and Public Policy, authors Harold Wolman, Howard Wial, Travis St. Clair, and Ned Hill seek to understand why some metropolitan areas are resilient in the face of economic hardship, while others are not. This commentary will summarize the authors’ findings and provide insight into what their findings might mean for the broader economic development community.

One of our partner organizations, the National Association for Community College Entrepreneurship (NACCE), recently opened their registration for their annual conference, NACCE 2018 The Entrepreneurial Ecosystem Revolution. The conference features keynotes from engaging entrepreneurs that have innovated in areas ranging from 1980’s rock and roll memorabilia to one of the co-developers of Amazon’s Alexa. Panels and breakout sessions featuring NACCE members from across the U.S.

The majority (75 percent) of all high school students were enrolled in a STEM course during the 2015-16 school year, according to the newest Civil Rights Data Collection (CRDC). For the first time, the CRDC includes new categories of data on STEM course taking, showing that some higher level math and science courses are offered at fewer high schools.

In 2017, 122 companies filed Regulation A+ (Reg A+) offerings and raised over $236.5 million collectively, building upon the early promise shown when the rules went into effect two years ago. Reg A+ is a less complicated and shorter process for a company going public than the traditional initial public offering (IPO) process.

Money the federal government invests in the Manufacturing Extension Partnership (MEP) program is generating a substantial economic and financial return and powering an additional 219,000 jobs, according to a new study by the W.E. Upjohn Institute. The study of FY 2017 data showed a 14.5:1 financial return for the $128 million invested by the federal government.

The White House released a budget this week that would substantially reduce federal spending for innovation and entrepreneurship. Regional Innovation Strategies and the entire Economic Development Administration, Manufacturing Extension Partnership, Advanced Research Projects Agency – Energy, Innovative Technology and Advanced Vehicles loan programs, Growth Accelerator Program and Regional Innovation Clusters would all be eliminated.

While the United States grapples with yet another proposed budget that drastically reduces investments in innovation, Canada’s federal government has announced that five industry-led organizations will share up to C$950 million as part of the country’s supercluster initiative.

SSTI’s Tech Talkin’ Govs feature continues as governors across the country are wrapping up their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses.

The IRS and CDFI Fund released their first guidance for the federal Opportunity Zones incentive. This wave of guidance addresses zone selection issues only — the most important clarification is that the certification window will expire on March 21, with the option to request one 30-day extension.