In partnership with the Appalachian Regional Commission (ARC), the Economic Development Administration (EDA) announced the availability of $65.8 million in new funding through the Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) initiative.
Angel investors are an essential component of the global economy, supporting ideas and innovators at their very earliest stages. In 2014, more than 200,000 American angels invested about $24 billion in 73,000 startups, according to the Angel Capital Association (ACA). Little data, however, exists on who these investors are and how they make their decisions. ACA, Wharton Entrepreneurship and the John Huston Fund for Angel Professionalism at Rev1 Ventures are launching a nationwide survey of angel investors to learn more.
Several recent studies have identified the roadblocks that females face in Science, Technology, Engineering and Mathematics (STEM) fields. These two roadblocks include gender bias in the classroom and too few mentors in K-16 STEM fields. In an attempt to increase opportunities for females in STEM education, both federal and foundation funders have announced programs that will increase scholarship and internship opportunities for young women in STEM fields.
To celebrate the one year anniversary of the TechHire Initiative, the Obama administration announced an expansion of the program with the addition of 15 new communities. The administration also announced activities and commitments to help support career and technical education.
Florida Higher Education – Is the Cheapest Fiscally Sound? provides evidence for the connection between state funding for universities and productivity. Florida Research Consortium and Florida Chamber Foundation combine a variety of data to advance three connections: 1) state funding for universities is exponentially related to total funding for universities; 2) total funding for universities is related to research quality; and 3) research quality is related to productivity within Metropolitan Statistical Areas.
Virginia Gov. Terry McAuliffe announced the creation of a pay-for-performance workforce training program that will help Virginia workers acquire the industry certifications and occupational licenses that meet the needs of key businesses in each region of the state.
The U.S. Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy (EERE) recently released the first round of 33 awardees from the Small Business Vouchers Pilot program. A total of $6.7 million will be awarded in the form of vouchers for assistance from DOE national laboratories of up to $300,000 a piece. Small cleantech businesses may be able to apply in nine technical categories. A second round of awards also has been announced, with a third to follow later in the year.
The Indiana Biosciences Research Institute (IBRI), first unveiled in May 2013, is a statewide public-private partnership advanced by BioCrossroads that considers itself the first industry-led collaborative life sciences research institute in the country.
New National Science Foundation data indicates that the federal government’s support for national laboratories and research centers has continued to decline in constant dollars after peaking with the 2011 infusion of American Recovery and Reinvestment Act (ARRA) funding. Six federally funded research and development centers (FFRDC’s) comprise about one-half of all FFRDC spending: NASA’s Jet Propulsion Lab (JPL) and five Department of Energy national labs.
When factoring in the broader manufactured goods value chain – including activities such as research and development, corporate management, logistics operations, and advertising and branding – manufacturing’s footprint on the American economy is much larger than what is measured in most analyses, according to a new report from the Manufacturers Alliance for Productivity and Innovation (MAPI). In their report, The Manufacturing Value Chain Is Much Bigger Than Yo
Over the last month, several universities have announced new initiatives that look to spur investments in university-related startups to support economic growth and prosperity within their region or state. These include efforts in Triangle Venture Alliance in North Carolina, Purdue Ventures in Indiana, and a partnership between Oregon State University and a local investment fund.
North Carolina
With a $50 million appropriation in FY 2000, the State of Michigan has made the first installment toward spending $1 billion over the next 20 years for life sciences research, development, and commercialization. The funding is derived from Michigan's tobacco settlement. Other public and private sources are expected to match much of the state's investment over the two decades.
Albany, New York
Health Reseach Inc., a branch of the New York State Department of Health, is looking to move its Pharmacogenomics Institute to a vacant laboratory in Rensselaer Technology Park, according to a recent article published in the Times Union. The 25,000-square-foot building that housed the Virogenics Corp., a vaccine-research company that left in 2000, has not been officially purchased. The state expects to lease the site when the Rensselaer County Industrial Development Agency closes on the purchase.
The Oklahoma Center for the Advancement of Science and Technology (OCAST) has announced the launch of the Oklahoma Technology Commercialization Center (Tech Center).
Venture capital (VC) investments for the first quarter of 2001 totaled $10.1 billion, a staggering 40 percent less than the previous quarter, according to the latest Moneytree™ survey prepared by PricewaterhouseCoopers in partnership with VentureOne. Although VC investment now has declined steadily in each of the four quarters since the peak in the first quarter of 2000, the latest results mark the greatest quarter-to-quarter decrease in absolute dollar terms since the survey started.
The State Science and Technology Institute has launched its home page on the World Wide Web. The site serves as a one-stop resource for cooperative technology program managers. The site provides information on SSTI activities including information services and research.
The Commerce Department's National Institute of Standards and Technology yesterday announced 18 awards for new or expanded manufacturing extension programs. The addition of these programs expands MEP services to all 50 states and Puerto Rico, with MEP services available at 300 sites nationwide. A total of $19.6 million will be provided by the federal government to support the first year funding for these centers, with an additional $21 million being provided by states and other organizations.
Over the years, the SSTI Digest has covered every aspect of the innovation economy, touching on entrepreneurship, high-tech research, STEM education, economic trends, global competitiveness, federal, state and local policy, and much more. We have striven to achieve a balance between news and analysis, bringing our readers everything they need to understand the evolving state of tech-based economic development.
To celebrate our second decade, SSTI has assembled some of the most important articles of our past 20 years.
On March 1, 1996, the first edition of the SSTI Digest was sent to a select group of fewer than 60 state tech-based economic development leaders. The original subscribers received the Digest via fax every Friday because Sprint offered unlimited, free calls and faxes each Friday. Since these early days, the Digest has grown to thousands of subscribers from across the country as well as hundreds of subscribers from several countries.
Governors around the country continue to lay out priorities for the next legislative session. In the coming weeks, SSTI will review gubernatorial addresses and budget proposals related to economic development. This week, we highlight developments in Illinois, Michigan and New Jersey.
While the Department of Commerce’s (DOC) Economic Development Administration (EDA) continues to take steps to implement the Federal Loan Guarantees for Innovative Technologies in Manufacturing (ITM) program, additional steps remain before they can issue loan guarantees according to a new report from the United States Government Accountability Office (GAO).
Immigrants play a significant role in American innovation, while women and minorities are underrepresented, according to a new report from the Information Technology and Innovation Foundation (ITIF).
The Department of Energy (DOE) has published a formal response to the final report of the Commission to Review the Effectiveness of the National Energy Laboratories (CRENEL).
The National Institute of Standards and Technology (NIST) released a new Federal Funding Announcement (FFA) to award its first national manufacturing innovation institute (NMII). Proposers may solicit a new NMII on any advanced manufacturing technology focus area not already addressed by another institute or competition.
A bipartisan group of 17 governors signed the Governors’ Accord for a New Energy Future – a joint commitment to support the deployment of renewable, cleaner and more efficient energy technologies and other solutions to make the U.S. economy more productive and resilient as well as spur job creation in member states.