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Lawmakers last week passed a measure establishing the Innovate NY Fund to invest $25 million of federal funds in technology development organizations, research universities, and seed-stage investment funds. The Empire State Development Corporation will administer the fund and establish a competitive process for evaluating applicants. Investment priority is given to companies involved in commercialization of R&D or high-tech manufacturing.

Last week, the House of Representatives passed the largest overhaul of U.S. patent law in 60 years. Under the new legislation, patent decisions would favor inventors who file for patents first, rather the the current "first-to-invent" system. The change would bring U.S. patent law more in line with the patent systems of Europe and Japan. A similar bill was passed by the Senate in March, which will be reconciled with the House bill in the near future.

Europe needs increased and "smarter" investments in both public and private research and development (R&D) to address the European Union's (EU) "Innovation Emergency," according to the European Commission's 2011 Innovation Union Competitiveness Report. The commission contends it is necessary to accelerate investments into R&D to achieve the EU's target of 3 percent of GDP being spent on R&D. EU members currently invest approximately 2 percent of GDP on R&D spending.

Speaking during a Rural Economic Forum at Northeast Iowa Community College in Peosta, IA, President Obama announced several new initiatives to promote economic growth in rural areas, including two new capital programs. The Small Business Administration (SBA) will partner with USDA to double its current rate of investment in rural small businesses to $350 million over the next five years. This will be accomplished through SBA's Impact Investment Fund.

The U.S. Department of Treasury has released details on its latest funding approvals from the State Small Business Credit Initiative (SSBCI). Eleven states, and Washington, D.C., are slated to receive a portion of the $360 million that will be used to expand state small business lending and capital programs. In order to qualify, states must demonstrate that their relevant programs will generate at least $10 in new private lending for every $1 in federal funding.

E. William (Bill) Colglazier, recently retired executive officer of the National Academy of Sciences and the National Research Council, has been selected the Science and Technology Advisor to Secretary of State Hilary Clinton.

The New Jersey Economic Development Agency currently is accepting comments from the state's science and technology (S&T) community on the development and implementation of a new "technology accelerator program." The mentor-based program is intended to create a competitive environment for S&T companies and entrepreneurs to showcase their products, ideas and business acumen for an opportunity to receive funding.

The National Science Foundation (NSF) has announced a $27.5 million, five-year grant to the University of Maryland for a multi-disciplinary research center focused on the interplay of human activity and healthy ecosystems. The grant is the largest ever received by the university and will provide funds for research in environmental sciences, public policy, engineering, computer science and economics.

Women are still vastly underrepresented in science, technology, engineering and mathematics (STEM) jobs and have been for the past decade, even as their share of the college-educated workforce has increased, finds a new report from the Commerce Department's Economic and Statistics Administration. Women occupy only 24 percent of STEM jobs today, compared to 48 percent of all jobs, and although the gender wage gap is smaller (14 percent in STEM fields compared to 21 percent in non-STEM occupations), a clear gender disparity exists nonetheless.

The Kiva City program will extend small business access to microloans in U.S. cities facing the greatest small business stress. Kiva, a nonprofit organization, offers personal microlending services. Building upon Kiva's Internet-based lending model, the goal of the Kiva City program is to spur job growth and economic recovery through microfinance by building connections between Kiva's global network of 592,000 individual lenders and small business owners across the country.

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 U.S. stands at "moment of truth" regarding its manufacturing sector, according to a new study by Booz & Co. and the University of Michigan's Tauber Institute for Global Operations, Manufacturing's Wake-up Call. If neglected, the sector's output could fall by half in the coming years. If "a series of identifiable smart actions and choices" are made, U.S. manufacturing could produce 95 percent of all product consumed by the nation. The study points out three significant findings regarding the current and future state of U.S.

Established last year to help entrepreneurs develop business plans and launch companies, Tennessee's nine regional accelerators also will play a key role in the state's new five-year strategic plan through partnerships to create and expand angel capital networks and mentoring for new startups. The LaunchTN initiative was unveiled last week by Gov. Bill Haslam, who charged the Tennessee Technology Development Corporation (TTDC) with implementing the plan and serving as the lead advocate for the state's innovation agenda.

This year's SSTI Annual Conference will provide attendees with many opportunities to explore the issues that drive technology-based economic development. When planning your conference experience, make sure to check out our breakout sessions, which will allow participants to focus on the topics that interest them.

Featured topics at this year's conference include:

As an SSTI conference sponsor, you have the chance to showcase your organization with the decision makers responsible for crafting and implementing local and state-level policies and programs that directly contribute to the nation's competitiveness. Today's marketplace is about belonging and staying connected. No other event brings together so many of the nation's top players in the TBED community.

Now in its fifth year, SSTI's Excellence in TBED awards program has recognized 20 of the most effective, innovative and transferable initiatives for growing tech-based economies from across the country.

This year, six new programs will be crowned winners of this prestigious award, held as models of best practice worthy of emulation. Join your friends and colleagues for a special ceremony celebrating this outstanding achievement following our keynote speaker on Nov. 8. Our first ever recipient of the "Most Promising TBED Initiative" also will be announced.

You've registered for the conference; booked your travel and hotel; made sure your iPod is charged... but have you told your friends and colleagues you'll be attending SSTI's biggest event of the year?

Don't forget to RSVP and look for updates on our social media sites.

This year SSTI is linking with the Ohio Early Stage Summit to offer the unique opportunity for attendees to maximize their time by attending two conferences, three receptions and endless networking opportunities in just three short days and all in the same location.

Renée Winsky, chief executive officer of the Technology Council of Maryland (TCM), has been elected to the board of trustees of SSTI. Prior to joining TCM in 2009, Winsky served as the president and executive director of the Maryland Technology Development Corporation. An SSTI member since 1999, Winsky has been a speaker at SSTI conferences and accepted the 2008 Excellence in TBED award for Commercializing Research Category on behalf of the Maryland Technology Transfer Fund.

This week (Nov. 14-20, 2011), more than 25,000 organizations in 123 countries will host events celebrating entrepreneurship and connecting entrepreneurs to potential mentors, inventors, collaborators and peers. Global Entrepreneurship Week (GEW) activities include Startup Weekends, in which groups come together to create a new business in three days, startup competitions and showcases, social entrepreneurship forums and venture capital summits.

To leverage the state's opportunities, Nevada needs to upgrade its diffuse economic development system to empower its regions more fully and set a statewide platform for new growth, finds a report commissioned by the state. Building on legislation passed earlier this year to reorganize and elevate the importance of the state's economic development activities, the report calls on the state to unify its operating system for 21st century economic development, support smart sector strategies in the regions, and set a platform for higher-value growth through innovation and global engagement.

The Center for Regional Economic Competitiveness (CREC) released a new report that uses real-time labor market information data (web-based job advertisements) to analyze the U.S. manufacturing sector for the first half of 2011. Using Labor Insight, a web tool that aggregates data about web-advertised job openings, co-authors Lauren Gilchrist, Ken Poole and Mark White highlighted several important characteristics of anticipated manufacturing hiring:

Lawmakers and technology industry leaders in Georgia and Kentucky are hoping to establish capital programs during the 2012 legislative sessions in an effort to support new business creation and remain competitive with states already offering lucrative incentives.

State fiscal conditions are likely to remain constrained in the coming year due to a weak national economic recovery and loss of federal stimulus funds, according to the latest Fiscal Survey of States. The survey points to some improvement in state finances in 2011 with 38 states reporting higher general fund spending in 2011 compared to FY10. However, 29 states still have lower general fund spending in FY12 compared to pre-recession levels in FY08 and total state revenues in 2012 remain below their 2008 levels by nearly $20.8 billion.