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After only ten years of investments, Connecticut Innovations, Inc. achieved a net income of $21.4 million in 1999, according to Connecticut Innovations’ latest annual report. The corporation reversed a deficit of over $20 million in retained earnings accumulated through 1995 to a positive $24.7 million by June 30, 1999. The corporation's record provides one of the strongest examples of successful state-funded, technology-based seed and venture capital investment to date.

The Advanced Technology Program (ATP), managed by the National Institute of Standards and Technology, has selected 37 projects from the 1999 solicitation to receive awards. Recipients will share $110 million of ATP funding for high-risk R&D projects with the potential to spark important, broad-based economic benefits for the United States. ATP funds will be matched by at least $102 million from private industry.

The 1999 Advanced Technology Program National Meeting, Nov. 15-17 in San Jose, Calif., will feature more than 30 workshops for industry, academic and government researchers to discuss current ATP work in

high-risk, high-potential technologies and future R&D opportunities. The meeting also will feature general information presentations on ATP and a showcase exhibit of a broad array of successful ATP-sponsored

The Indianapolis-based Lilly Foundation is providing nearly $60 million in two grants to help make Indiana more competitive for technology research and education and high-tech business development. The grants were made to Indiana University and the Rose-Hulman Institute of Technology.

Total annual research and development (R&D) expenditures — expected to pass $247 billion in 1999 — have grown 7.2 percent over 1998 levels (adjusted for inflation), according to a recent Data Brief from the National Science Foundation. Growth in R&D expenditures has been accelerating since 1995. The annual real R&D growth for 1995-99 is expected to average 6.1 percent. Almost all of the growth is attributed to a resurgence in industrial R&D.

The U.S. Department of Commerce has announced selections for the second — and perhaps final — round of funding for the Experimental Program to Stimulate Competitive Technology (EPSCoT). Nearly two million dollars will be distributed among eleven projects selected from 29 proposals submitted last spring. The program is designed to assist state and local efforts to initiate technology-based economic development efforts in areas historically lacking federal research funding.

Dr. Lura Powell, Director of the Advanced Technology Program (ATP) since 1995, has decided to take early retirement from the National Institute of Standards & Technology and pursue career opportunities in the private sector. Because of the voluntary early retirement option deadline, Dr. Powell’s retirement was effective September 30.

While many states are adding multi-million programs to their science and technology portfolio, state-led S&T efforts in much of the North Central United States are still suffering. The latest example was the elimination of North Dakota’s two largest programs this summer.

The SSTI Offices will be closed Wednesday, October 6 - Monday, October 11 due to the SSTI conference and in observance of the Columbus Day holiday.

Due to SSTI’s 3rd Annual Conference next week, the SSTI Weekly Digest will not be  published on October 8.