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Rhode Island has released its 2012 Benchmarking the Rhode Island Knowledge Economy, a follow-up to the inaugural report published last year. Produced by the Greater Providence Chamber of Commerce and Rhode Island Science & Technology Advisory Council, Benchmarking is a comprehensive report of the state's innovation capacity and a method of measuring over time Rhode Island's innovation economy in comparison to the region and the country.

Based on scant column inches on the topic in blog posts and newsletters, few within the general economic development and innovation circles seem to have noted what expiration of the Farm Bill could mean for agricultural research, energy innovation and rural economic development. Programs supporting regional innovation strategies and R&D grants are caught in the debate over cuts to food stamps, crop subsidies and farmers' safety net after disasters like the nearly nationwide drought of this past summer.

The 10 regional councils established earlier this year to stimulate economic development and improve the business climate statewide are tasked with five primary responsibilities, and can compete for funding from a pool of $1 billion to support projects they determine to be a part of their regional strategy. Gov. Andrew Cuomo recently unveiled a blueprint for how the councils will operate with information regarding resource allocation, structure and leadership, and performance measurement.

The National Science Foundation (NSF) Innovation Corps (I-Corps) program, a public-private partnership, intends to connect NSF-funded scientific research with a project team, made up of professionals from the technological, entrepreneurial and business communities, to help transition NSF-funded scientific and engineering discoveries at institutions of higher education into commercial technologies, products and processes.

Internet-specific investments hit a ten year high in the second quarter of 2011, driving overall venture investment up 19 percent over the previous quarter. The National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC) report that venture capitalists invested $7.5 billion in 966 deals during the second quarter. This represents an increase of about 19 percent over the first quarter in both the number of deals and total dollars invested. The gain, however, was less significant when compared to the second quarter of 2010.

Venture for America (VFA), nonprofit organization, announced its official launch and the acceptance of applications for its inaugural pool of "fellows," approximately 50, selected from the graduating class of 2012. The organization hopes to "spur enterprise and encourage entrepreneurship in parts of the U.S. that struggle to attract top college graduates."

The University of Nebraska-Lincoln's Bureau of Business Research and Department of Economics has released its latest edition of the State Entrepreneurial Index, a state-by-state analysis of entrepreneurial activity. The index uses five components — percentage growth and per capita growth in business establishments, its business formation rate, the number of patents per thousand residents and gross receipts of sole proprietorships and partnerships per capita — to rank states in business formation and innovation.

The University of Connecticut seeks a vice president for economic development to provide strategic leadership and direction in building and capitalizing on facilities, expertise and technology available at UConn and in improving state economic prospects in high-value industries. This is a new position reporting directly to the president.

About 60 percent of U.S. academic R&D spending support research in the life sciences, according to data released by the National Science Foundation (NSF). Engineering R&D, the second largest target of spending, accounted for 15.7 percent of total academic research expenditures. While California leads the country in total spending in every science and engineering field, the District of Columbia leads in per capita spending in life sciences, physical sciences, psychology and social sciences.

Recent legislative actions supporting technology-based economic development include level funding for the Massachusetts Life Sciences Center, funding to support programs of the Minnesota Science and Technology Authority and the expansion of two state programs in support of technology and life sciences companies in New Jersey.

Lawmakers in several states wrapped up their 2011 sessions in time for the new fiscal year, which begins on July 1 for most states, allocating funds and passing bills in support of tech-based economic development. Read more...

In a Framework for K-12 Science Education: Practices, Crosscutting Concepts and Core Ideas, an 18-member committee comprised of experts in education and scientists proposes a foundation for new national K-12 science education standards. The report identifies core ideas in four areas that students should understand by the time they finish high school. The four areas include:

Iowa Gov. Terry Branstad signed Iowa House File 590 into law, establishing a new economic development public-private partnership. The Iowa Partnership for Economic Progress (IPEP) will be comprised of two separate entities — the Iowa Economic Development Authority and the Iowa Innovation Corporation. IPEP replaces the embattled Iowa Department of Economic Development.

The District of Columbia leads the country in per capita academic R&D expenditures, spending about $543.19 per resident, according to new data released by the National Science Foundation. Maryland follows closely behind with $530.06 per resident, while Massachusetts ranks a distant third with $373.60. While California, New York and Texas lead in total expenditures, smaller states, such as North Dakota, Rhode Island and Hawaii place in the top 10 for per capita spending.

The Department of Commerce, National Institute of Standards and Technology is seeking applications for the director, Technology Innovation Program. This position is perfect for you if you are ready for a challenge and are committed to making significant improvements in the operations of one of the world's premier research and science organizations. NIST is located in Gaithersburg, Montgomery County, MD.

Pamela Goldberg has been appointed as the executive director of the Massachusetts Technology Collaborative. Currently, Goldberg serves as director of entrepreneurial leadership at Tufts University.

The 2011-13 biennial budget for the Oregon Business Development Department recently approved by lawmakers allocates $16 million for the Oregon Innovation Council (Oregon InC), the same amount as last biennium, but short of the $19 million requested by Gov. John Kitzhaber to broaden research and technology transfer programs.

Whether you are new to the tech-based economic development (TBED) field or a seasoned practitioner, SSTI's podcast interviews with experts in all areas of TBED serves as a useful learning tool. These short and "to the point" interviews delve into questions such as:

Job Corner

U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan recently announced that $67 million will be available for a second round of the Sustainable Communities Regional Planning Grant program.

A sluggish economic recovery, mostly due to no sustained upturn in housing activity, combined with pressures from rising commodity costs, supply-chain disruptions, and extreme domestic weather means most U.S. metros can expect only minimal job growth by the end of this year, according to a new report prepared for the United States Conference of Mayors. Job growth in 2011 is expected to reach 1.2 percent and unemployment will not fall below 8 percent until late 2013.

In a report published by United for Medical Research, a consortium of science and research medical organizations, Dr. Everett Ehrlich found that extramural research supported by the National Institutes of Health in fiscal year 2010 (FY10) led to the creation of 487,900 quality public and private sector jobs and produced over $68 billion in new activity across the country.

Using data from the Small Business Administration's Office of Advocacy, SSTI has prepared a table showing how each state (and the District of Columbia) has ranked in business churning from 2004 to 2009. Business churning is a measure of the creation of new companies and the death of existing companies as share of total firms. Churning increases as the number of new start-ups and existing business failures per year increase.

President Barack Obama recently announced the creation of a national Advanced Manufacturing Partnership (AMP) to accelerate the development of manufacturing technologies at top engineering universities. The AMP initiative, which was developed based on recommendations from a report by the President's Council of Advisors on Science and Technology (PCAST), would leverage existing programs and proposals to invest more than $500 million in university and private R&D. The partnership is being called an "umbrella" for federal innovation programs.

At the close of the 2011 legislative session in Louisiana last week, lawmakers approved three measures to encourage investment in high-tech economic endeavors. This includes renewing and enhancing the R&D tax credit and the Technology Commercialization credit and reinstating an angel investor tax credit for investment in emerging startups.