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Coming together for a special one-day session last week, the South Carolina Legislature voted to override a line-item veto issued by Gov. Mark Sanford concerning the funding of the state’s Endowed Chairs program, now called the S.C. Centers for Economic Excellence. The override raises the budget allocation for the program from $20 million to $30 million, which surpasses the original multi-year cap of $200 million set for the Endowed Chairs/Centers of Economic Excellence program, when enacted in 2002.

Arizona legislators approved the fiscal year 2009 budget last week, providing funds for proposals aimed at stimulating the state’s economy through investments in higher education infrastructure and increasing R&D activity.
 
Proceeds from an expansion of the state’s lottery will finance $1 billion in bonding for construction projects across the state’s three universities, including $470 million for completion of the Phoenix biomedical campus and upgrades to several buildings.

The Louisiana State Legislature recently approved several bills as part of a comprehensive package designed to revamp the state’s workforce development programs to focus on job training in emerging industries to ensure these fields have a highly qualified labor pool in the coming years.
 

Our German isn't what it should be and online translators weren't as helpful as we'd expected, but we wanted to make readers aware of the size of the investment Berlin is making over the next four years to recruit star faculty to its four research universities and the four local, private research institutions of Fraunhofer Gesellschaft, Helmholtzgemeinschaft, Leibniz Community, and the Max Planck Society.

With the recent news that initial public offerings and mergers and acquisitions for venture-back companies are becoming scarce, many are anticipating a national venture capital crisis. A lack of exit opportunities could lead angel and venture investors to become more hesitant to invest at any stage of venture development as they seek opportunities that produce a return in the foreseeable future.

After failing twice in the U.S. House of Representatives, the reauthorization of the America COMPETES Act passed with a 262-150 vote .

Florida's FY11 budget, signed into law last month by Gov. Charlie Crist, replenishes the Innovation Incentive Fund with $75 million. The recruitment fund was immediately tapped by lawmakers for $50 million toward enticing Maine's Jackson Laboratory to open a branch in Collier County, leaving $25 million for other major R&D projects and create high wage jobs throughout Florida. The state has promised the Jackson Lab project an additional $80 million over the next three years if developed.

Four bond issues totaling $108.3 million appear headed for passage by voters following the primary election yesterday. Two of those measures are aimed at job creation efforts through capital investments, funding for R&D, and renewable energy measures. The Associated Press has projected the $23.75 million economic development bond as winning with a narrow lead of 51-49. The energy bond is passing with 59 percent of the vote.

JDG Associates, Executive Search Consultants, has been retained by the suburban Maryland-based National Institute of Standards and Technology (NIST) to recruit two key leaders:

• The Director for Innovation and Industry Services will focus on technology transfer and commercialization along with the fostering of public/private partnerships and joint ventures; and,

Subra Suresh, dean of engineering at the Massachusetts Institute of Technology, has been nominated by President Barack Obama to be the next director of the National Science Foundation.

Eric Cromwell, president and CEO, and Dan Schmisseur, vice president of operations and strategy, have resigned from the Tennessee Technology Development Corporation.

Venture investors are increasingly turning to overseas markets for promising investments in key high-tech industries, according to the 2008 Global Venture Capital Survey conducted by Deloitte and the National Venture Capital Association (NVCA). The annual poll of 400 international venture capital investors found that the U.S. is still perceived as the strongest technology economy in all sectors, but other countries are developing industry specializations that allow them to be competitive with the U.S. in one or two particular areas. While no single country is likely to overtake the U.S.

Alabama Gov. Bob Riley recently announced a plan to launch an advanced robotics research, training and education center to prepare workers for the robotics industry and attract high-tech employers to the state. Calhoun Community College in Decatur will host the $71 million center, in partnership with the University of Alabama in Huntsville. Gov. Riley first proposed the robotics campus in 2006 and believes the center will help increase the state’s profile as a leader in the robotics industry.

While California and Massachusetts may overshadow much of the venture capital (VC) activity going on around the country, other states have made significant progress in developing venture industries that serve the needs of their economy. Though larger investments in later-stage companies are becoming more prevalent in the U.S. venture industry, some states are seeing increases in smaller, early-stage investments that, if successful, should lead to significant growth in their total VC investment in years to come.

Last week, Premier Ed Stelmach of Alberta introduced a $170 million suite of initiatives to support high-tech economic development in the province. The government hopes that by providing support for commercialization from research to market it can attract high-tech entrepreneurs from other areas. Most of the province's investment will support the creation of the $100 million Alberta Enterprise Corporation to encourage venture capital investment.

An initiative in Iowa to disperse tax credits worth 20 percent of equity investments into pre-qualified businesses or seed capital funds has reached its $10 million cap and will not be continued in the next fiscal year. The Iowa Venture Capital Credit – Qualified Business or Seed Capital Fund was started in 2002 with a cap of $10 million, and as monitored by the Iowa Department of Revenue, all credits have been issued.
 

As annual appropriations for the National Institutes of Health (NIH) flattened – at the same time more and more states and universities are increasing their investments in academic bioscience research capacity – competition for NIH grants has heightened. Reports indicate investigators in the early stages of their careers and transformative research have been the victims of the squeeze.
 

New York City officials recently announced the launch of a $2 million seed fund to boost entrepreneurship and the local venture capital market. NYC Seed will provide up to $200,000 for seed-stage New York-based businesses and will offer mentoring and other support for client companies.

A little more than a year after unveiling a comprehensive proposal to provide crucial funding for R&D, commercialization and infrastructure to position Massachusetts as a global leader in life sciences, Gov. Deval Patrick signed an historic 10-year, $1 billion life sciences investment package, transforming the ambitious idea into reality.
 

Enlisting support from industry, policymakers and academics, Gov. Deval Patrick unveiled an initiative to help the state's manufacturers evolve with changing technology, adopt new innovations, and grow their operations through a new multi-tiered loan program. The Advanced Manufacturing Initiative is a public-private collaboration designed to maximize job creation within the manufacturing sector, which added more than 19,000 jobs last month, according to the governor's office.

The Department of Health and Human Services (HHS) and the National Institutes of Health (NIH) are seeking input on proposed changes to its conflict of interest policy. As multidisciplinary, public-private research teams have become more common, HHS standards to ensure objectivity have become more complex. The department is asking for recommendations that would increase transparency and streamline regulations. Comments are due by July 20. Read the announcement ...

Kansas is home to more than 20,000 green jobs and expects that number to reach 30,000 by 2012, according to a recent survey by the state Department of Labor. The survey of 6,000 Kansas employers reveals that job growth in renewable energy, energy efficiency will drive green job numbers over the next two-to-three years. The biggest employment gains are expected in the renewable energy sector, which is expected to grow by 121 percent. Read the report ...

Entrepreneurship in the U.S. reached a 14-year high in 2009, according to a new study. The Kauffman Index of Entrepreneurial Activity, which tracks national and state entrepreneurship rates, found that 340 new businesses were created for every 100,000 adult residents each month during 2009. Oklahoma and Montana led the nation with 470 new businesses per 100,000 adults. Read the report ...

The Research & Technology Development (RTD) Program, a flagship program of the Washington Technology Center has helped fill a critical role in enhancing Washington state's efforts in commercializing research by bringing companies and university researchers together. In SSTI's exclusive interview, Chris Coleman shares valuable insight on how the program continues to produce impressive returns after nearly two decades. Download the interview ...

 JumpStart Inc. invites applications for the position of president, JumpStart Advisors. This is an exciting opportunity for a business leader who has significant experience in providing direct consulting services, as well as managing multiple consulting project teams, and would like to lead a nationally significant effort that has the promise to transform the way regions think about their innovation and entrepreneurial ecosystems.

Patrick Draper has been appointed as president and CEO of the Toronto Region Research Alliance.

Arlene Garrison has been appointed as vice president of University Partnerships at Oak Ridge Associated Universities.