President Biden announced his intent to nominate Arati Prabhakar to serve as the next director of the Office of Science and Technology Policy (OSTP) and once confirmed she would also become his chief science advisor.
The venture development organizations BioCrossroads, BioSTL, JumpStart, and
The venture development organizations BioCrossroads, BioSTL, JumpStart, and LaunchNY recently published their economic impact reports for 2021. These organizations primarily assist businesses from Indiana, Missouri, Ohio, and New York respectively.
New modeling techniques and detailed data helped identify locations across the country with the highest potential for distributed wind energy of all forms. The study, which also modeled opportunities for distributed wind in disadvantaged communities and was funded by the U.S. Department of Energy’s Wind Energy Technologies Office, could help communities transition to a clean energy future. Distributed wind energy refers to wind technologies deployed as distributed energy resources.
Two recent studies explored public perceptions of science and technology and higher education in the United States. The first study from the NSF National Science Board explores public perceptions and awareness of science and technology among American adults, and a separate report from New America analyzes attitudes on higher education, with a particular interest in the transition to online instruction in response to the COVID-19 pandemic.
SSTI has released a new data tool that defines investment activity, one indicator of the vibrancy of a region’s innovation economy, in each of 18 technology areas.
With a GDP of over $23 trillion in 2021, the United States has the world's largest economy, according to the latest available data from the World Bank. Yet, the U.S. falls behind such countries as Israel and Korea when it comes to how much is spent on research and development (R&D) in proportion to GDP. For example, Israel and Korea spend 5.56% and 4.93% of their GDP on R&D compared to the U.S.’ 3.46%.
A group of associations representing private investment funds, including the National Venture Capital Association, jointly filed a lawsuit in the 5th Circuit Court of Appeals against the U.S. Securities and Exchange Commission (SEC).
All across the U.S., states are experiencing a crisis-level shortage of affordable housing.
The challenge of attracting and retaining skilled manufacturing talent consistently ranks as a top concern in the industry. Recent findings from the National Association of Manufacturers (NAM) show that more than 70% of industry leaders cite workforce issues as their primary challenge for the past year, outpacing supply chain disruptions and rising raw material costs.
The challenge of attracting and retaining skilled manufacturing talent consistently ranks as a top concern in the industry. Recent findings from the National Association of Manufacturers (NAM) show that more than 70% of industry leaders cite workforce issues as their primary challenge for the past year, outpacing supply chain disruptions and rising raw material costs. To better understand this challenge, the Manufacturing Institute has released a new report exploring how location influences manufacturing companies’ talent development efforts. The study surveyed over 100 manufacturing firms, asking about strategies for attracting and recruiting new workers in rural versus urban settings to identify key workforce challenges for rural and urban manufacturing firms and to uncover solutions they have implemented to address their immediate and long-term workforce needs.
The semiconductor industry's workforce is expected to grow from approximately 345,000 jobs today to about 460,000 by the decade's end, and of these new jobs, roughly 67,000 are at risk of being unfilled, according to a report from the Semiconductor Industry Association and Oxford Economics (SIA-OE report).
The SIA-OE report makes three recommendations for addressing this shortage:
The U.S. Economic Development Administration’s (EDA’s) annual Build to Scale (B2S) program (previously Regional Innovation Strategies) completed its tenth award cycle this year, with over $270 million in grants across 437 awards since inception in Fiscal Year (FY) 2014. FY 2023 was the largest award cycle, totaling $53 million in federal awards across the Venture and Capital Challenges.
The PitchBook-NVA Venture Monitor Q1 2022 reports that overall venture capital (VC) investment activity was down in Q1 2022, a change from the unprecedented growth seen quarterly through 2021. However, angel and seed stage financing remained strong. Additionally, deal activity for early-stage deals had a strong start in Q1 2022, with a total of 1,499 reported deals as of March 31.
The Kentucky and Mississippi gubernatorial elections were held on Nov. 7, with both incumbents, Andy Beshear (D) and Tate Reeves (R), winning re-election. Legislative elections were also held in Mississippi (where simple majorities were guaranteed for Republicans in both chambers), New Jersey, and Virginia.
The Economic Development Administration (EDA) announced 60 organizations receiving $53 million from the Build to Scale program today. This is the program’s 10th and largest award cycle, following years of consistent appropriations growth from Congress.
Incorporating systems thinking into economic development planning could lead to better solutions to potential and pressing problems, says a Quarterly Research Brief from the National Economic Research and Resilience Center (NERRC). The paper emphasizes that systems, or integrated planning, is essential when writing a Comprehensive Economic Development Strategy (CEDS).
While there has been increasing public questioning of the value of a college degree, statistics on net worth by educational attainment paint a clear picture. In 2022, the median net worth of those without a high school diploma was approximately $38,000, while those with a college education sat at around $464,000. When looking at averages instead, the difference becomes even more pronounced, with non-high school graduates averaging a net worth of approximately $176,000 compared to college graduates’ $1.92 million.
Startup Genome and the Global Entrepreneurship Network recently released a new report offering a fresh perspective on what it takes for a startup to scale. The report draws on an eleven-year study involving 100,000 startups to provide a nuanced look at the factors contributing to startup scalability, offering actionable insights that underscore the importance of networks for entrepreneur support organizations, entrepreneurs, and policymakers.
There is an opportunity to turbocharge U.S. innovation by addressing barriers to collaboration between research universities and industry, according to Sheila Martin, vice president of economic development and community engagement at the Association of Public and Land-grant Universities (APLU).
A team of researchers recently assessed the relationship between angel investing and venture capital (VC) for startups. Although they found some variation in the performance of companies based on their share of angel and VC financing, there was no clear indication that angel investing provides any unique value for a startup.
Today the Appalachian Regional Commission (ARC) awarded nearly $21 million for 21 projects impacting 211 counties through its POWER (Partnerships for Opportunity and Workforce and Economic Revital
To mark the anniversary of its executive order on supply chains, the White House released a fact sheet this morning outlining past and future actions to strengthen American competitiveness. The release includes several initiatives that have not been discussed widely before, including that: the Export-Import Bank of the U.S.
A new $113 million grant program intended to strengthen and modernize the Registered Apprenticeship Program (RAP) will designate up to $50 million for equity partnerships and pre-apprenticeship activities. The U.S. Department of Labor announced the new grant program to enable more workers to earn while they learn and find reliable pathways to the middle class. Using a coordinated investment strategy, the Apprenticeship Building America grant program will bring the RAP model to new sectors and industries.
The Biden Administration issued an executive order earlier this week that provides guidance on the safe, secure, and trustworthy development and use of Artificial Intelligence (AI) in the U.S. The EO includes guidance for agencies to work to provide new opportunities for small businesses and entrepreneurs in AI and other directives.
Despite a $4.1 trillion increase in annual output since 1987, manufacturing industries in the United States have been declining in both their labor productivity and share of output. The Bureau of Labor Statistics’ labor productivity (output per hour) index, tied to 2012 values, for manufacturing industries has dropped by nearly five points since its all-time high of over 101 in Q2 2013.
Not all publicly traded companies use savings from tax cuts the same way, NBER researchers James Cloyne, Ezgi Kurt, and Paolo Surico report in “Who gains from Corporate Tax Cuts? While changes in marginal tax rates and investment tax credits (ITC) can have significant effects on the behavior of publicly traded C-corporations, manufacturers and goods producers are much more likely to recirculate the savings into additional capital expenditure and employment than firms in the service sector. Publicly traded service sector companies typically use the proceeds from a tax cut to incr