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In the absence of cohesive federal policies or regulations involving the growing development and use of artificial intelligence (AI), states’ governors and lawmakers are undertaking studies and crafting legislation that seeks to balance governance and implementation of this evolving technology. The studies and legislation are intended to protect constituents from AI’s possible harms without hindering potential uses or contributions of AI to government services or medical, science, business, and educational advancements.

Despite the pandemic and accompanying global economic slowdown in 2020 and 2021, U.S. business spending on research and development (R&D) activities increased by nearly $65 billion (12%), rising from $538 billion in 2020 to $602 billion in 2021. This increase was led by a $61 billion, or 13% increase, in R&D paid for by the company, compared to a $3 billion, 5% increase, in R&D paid for by others.

Independent contractors notched a win as the U.S. Department of Labor (DoL) this month announced the withdrawal of the “Independent Contractor Rule.” The rule, which was issued two weeks before the change in presidential administrations, would have made it easier for employers to classify workers as independent contractors and would have provided employers more security from challenges by contract workers for minimum wages and overtime pay.

As the most ambitious innovation initiative that Europe has ever undertaken, the European Union (EU) recently launched the European Innovation Council (EIC) with a €10 billion (about $11.7 billion USD) fund that will provide both non-dilutive grants to and direct equity investments in innovative startups within the union. After a successful three-year pilot, the EIC is merging with the current Executive Agency for Small and Medium-sized Enterprises, and has already launched its first official program with a call for proposals worth €1.5 billion (approximately $1.8 billion USD).

The closely watched regional competition to identify the final two hubs of the ARPANET-H, a $2.5 Billion health innovation initiative of the Advanced Research Projects Agency for Health, has come to a close with the selection of two firms to operate the Customer Experience and Investor Catalyst elements of the national network.

As of this writing, Congress has yet to agree to fund the federal government beyond this Saturday, Sept. 30.

Created in 1987, the NSF Science & Technology Centers (STCs) program has supported exceptionally innovative, complex research and education projects that have opened up new areas of science and engineering and developed breakthrough technologies through integrative partnerships. The recent announcement of $120 Million in NSF funding for four new centers will bring the current active center portfolio to 17.

Families and young professionals from New York and New Orleans, San Francisco and San Antonio, Omaha, and expat communities abroad are homing in on one unassuming Midwest city as the ideal place to relocate and put down roots. If you tried to guess the destination, you probably wouldn’t guess Tulsa, Oklahoma. But this city is, in fact, one of the nation's hottest relocation destinations.

SBA recently announced its 2023 Growth Accelerator Fund Competition Stage Two prize winners. The 35 award-winning accelerator partnerships will receive $150,000 each in unrestricted funds.

The United States boasts the world’s largest economy and is home to many of the most prestigious, highly ranked universities across the globe, leading to a highly educated population. Overall, advanced education pays off in terms of personal earnings and national innovation. Factors like field of study, skills, and job demand can greatly affect earning potential.

The COVID-19 pandemic highlighted the country’s reliance on overseas manufacturing production when there was a lack of medical supplies and equipment to treat those affected by the virus as supply chains were reliant on supplies from outside the country. A recent report from Heartland Forward finds that many domestic and foreign companies are recognizing the strategic advantages of locating in the U.S. and are considering reshoring operations.

The U.S. Department of Commerce’s Economic Development Administration (EDA) recently announced the 11 recipients of the 2023 STEM Talent Challenge. The challenge supports programs to train science, technology, engineering, and math (STEM) talent and fuel regional innovation economies across the nation.

Those who gather data know that the results collected in 2020 during pandemic shutdowns do not reveal actual trends. This phenomenon was the case for a recent survey by Babson College researchers for the Global Entrepreneurship Monitor Adult Population Survey (GEM APS). They found that rates of entrepreneurship, which had been on the rise since 2015, dropped in 2020. However, their newest research shows an upward trend in 2021 and 2022, when the U.S.

Commerce Secretary Gina M. Raimondo testified Tuesday to the House Committee on Science, Space, and Technology on the implementation of the CHIPS and Science Act. During the hearing, Raimondo spoke about the importance of the Regional Innovation and Technology Hubs and CHIPS manufacturing programs for national and economic security and emphasized the need for additional funding to make Congress’s vision for these programs successful.

Less than half of one percent of Americans attend Ivy-Plus colleges, according to the National Bureau of Economic Research (NBER). Yet these twelve colleges account for more than 10% of Fortune 500 CEOs, a quarter of U.S. Senators, half of all Rhodes scholars, and three-fourths of Supreme Court justices appointed in the last half-century.

While venture capital (VC) deal activity by women-(co)founded and women-led companies has increased over the last 15 years by some metrics, a new report indicates that the 2020 pandemic and global recession impacted these companies more than companies founded and led by men.

SBA's Office of Investment and Innovation has launched an Investment Capital Advisory Committee (ICAC) to serve as an independent source of advice and recommendations to SBA on institutional investment market trends, innovation, and policy impacting small businesses’ ability to access patient investment capital.

SSTI’s 2023 Annual Conference was Sept. 6-8 in Atlanta, and nearly 400 practitioners and policymakers working on tech-based economic development attended to discuss their latest activities, challenges, and successes in strengthening their regional innovation economies. Conference highlights include U.S. Economic Development Administration director Alejandra Y.

The Internal Revenue Service recently published new interim guidance for companies to use when amortizing research or experimental expenditures — a new requirement for tax year 2022 created in the Tax Cuts and Jobs Act.

A group of technology-related organizations, including SSTI, is asking Congress to support the U.S. Economic Development Administration’s Regional Technology and Innovation Hubs program with additional, substantial appropriations in FY 2024.

The Appalachian Regional Commission (ARC) announced $43.3 million for 51 projects in the region’s coal-impacted communities. More than half of the awards will support recovery-to-work efforts or broadband initiatives. To date, ARC has awarded over $238 million and supported 293 projects.

At a time that is often referred to as “The Age of Technology,” the U.S. has no coherent strategy for maintaining its high standing as a world leader in science, technology and innovation, and has watched as China has overtaken the country on many indicators of prowess in R&D and innovation.

Over $1 billion has been awarded for the creation of 12 new quantum information services (QIS) and artificial intelligence (AI) research institutes across the country over the course of the next five years, according to an announcement from the White House Office of Science and Technology Policy, the Department of Energy (DOE) and the National Science Foundation.

This year marks the 30th anniversary of the Georgia Research Alliance (GRA), a public-private partnership that works with both the University System of Georgia and the Georgia Department of Economic Development to expand the research capacity at the state’s universities and seed and shape startup companies. When it was formed in 1990, GRA was a new kind of enterprise.

Completing a subbaccalaureate program can translate into higher pay and greater employment outcomes compared to those who have no education beyond a high school diploma, but the median salary of those who completed a certificate versus those who did not was the same ($20,000) among students who were no longer enrolled after three years. The results are detailed in a recent brief from the National Center for Education Statistics at the U.S. Department of Education.