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With so much attention given to increasing private seed and venture capital activity as a means of growing tech-based economies, one might expect that encouraging and attracting community development venture capital (CDVC) – that is, equity investments and entrepreneurial assistance to meet both profit targets and community development goals – would be a common element of a state or local community’s portfolio of economic development tools.

San Jose, Austin, and San Francisco received top honors in the 3rd Annual Forbes-Milken Institute Best Places Ranking. San Jose and San Francisco raced to the top of the list from 29th and 42th place respectively in 1999. Completing the top ten metro areas in 2000 are: Boulder, CO; Dallas, TX; Santa Rosa, CA; Boise City, ID; San Diego, CA; Phoenix-Mesa, AZ; and Oakland, CA. The top metro area east of the Mississippi River, Raleigh-Durham-Chapel Hill, NC, came in 13th.

Colorado

With an overall positive review, the Office of the Inspector General within the National Science Foundation (NSF) has made several recommendations for improving the performance of NSF's Experimental Program to Stimulate Competitive Research (EPSCoR). EPSCoR plays an important and strategic role in many states’ efforts to build a stronger research enterprise and tech-based economy. In FY 2000, the NSF EPSCoR program distributed $51.7 million to 19 states and Puerto Rico.

Ever wonder how many SSTI Weekly Digest articles have covered tax credits? (Answer is 47) strategic plans? (35), biotechnology? (80), workforce issues?(92), indicators? (14), telecommunications? (77), math & science? (50), capital, both seed and venture? (150)



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Industrial research expenditures in the U.S. had a record single-year decline in 2002, according to the latest National Science Foundation (NSF) Survey of Industrial Research and Development. An inflation-adjusted decline of $8.6 billion was the largest-ever reported since the survey began in 1953. The 2002 tally, when measured in current dollars, also wins the ignoble distinction of reflecting the largest single-year absolute and percentage reduction at $7.7 billion and 3.9 percent, respectively.

One of the most critical elements needed for a tech-based economy is a strong higher education system that supplies a source of research ideas, new technologies and a skilled workforce. Studies have shown that individuals with college degrees earn more money, obtain better jobs, pay more taxes, and are more apt to perform volunteer work. Given higher education's important role, several states have been re-examining how higher education can play a larger role in their economy.

To encourage innovation in health care and speed the development of new medical technologies, the Department of Health and Human Services (HHS) announced last week it is forming an internal task force to weigh new ideas and promote new solutions.

Advocates for deregulating Kentucky's broadband industry argued doing so would result in increased rural access to high speed Internet services. They'll have the chance to prove it with Gov. Ernie Fletcher's signature this week on deregulation legislation, HB 627.

Financial success for any start-up tech firm more often depends on adequate financing and proper management than the specific technology, experts say. Two tech-based economic development organizations in Pittsburgh have formed a new alliance to offer entrepreneurial life science firms with an eye toward greater sustainability and profitability.

Concerns for wheat and organic markets remain, however

While state governments across the country are overwhelmingly in favor of health-related biotechnology, agricultural biotechnology has received a somewhat less enthusiastic reception. That may be changing - however slowly - according to new information released last week by the Pew Initiative on Food and Biotechnology.

Defense 2003 SBIR Phase II Awards

The Department of Defense (DoD) distributed $766.9 million in awards under fiscal year 2003 Phase II Small Business Innovation Research (SBIR) Program competition. A total of 1,080 awards averaging more than $710,000 were made.

With an eye toward helping to make Kansas City a leading center for biomedical research, James Stower Jr., founder of American Century mutual funds, and his wife are donating $1.114 billion to the Stowers Institute of Medical Research. The donation is considered one of the five largest philanthropic gifts in history.

Calling for the program to more than triple in size by 2007, Senator John F Kerry (D-Massachusetts) and several other Senators introduced legislation last week to reauthorize and expand the Small Business Technology Transfer Program (STTR).

In today's edition of the Federal Register, the Small Business Administration (SBA) has issued the draft revised policy directive for the Small Business Innovation Research (SBIR) Program. The public is invited to comment on the proposed directive, which provides guidance to the ten federal agencies participating in the program. SBIR annually awards more than $1 billion to small businesses across the country for research and development.

PricewaterhouseCoopers has published the detailed statistics for the Moneytree™ survey of venture capital (VC) activity for the first quarter of 2001. As promised in the May 4, 2001 issue of the SSTI Weekly Digest when the summary results were announced, SSTI has prepared the accompanying table presenting the distribution of VC by state.

The following is a sampling of the more than 60 events included in the SSTI Calendar of Events webpage: http://www.ssti.org/calendar.htm

President Bush intends to nominate P.H. Johnson to be Federal Co-chairperson of the Delta Regional Authority. He currently practices law with the firm of Johnson Bobo in Clarksdale, Mississippi.

President Bush intends to nominate P.H. Johnson to be Federal Co-chairperson of the Delta Regional Authority. He currently practices law with the firm of Johnson Bobo in Clarksdale, Mississippi.