After holding steady in late 2001, the amount of venture capital investment continued its two-year decline in the first quarter of 2002, according to the PricewaterhouseCoopers/Venture Economics/National Venture Capital Association MoneyTree™ Survey. Total investments fell to $6.2 billion — a 24 percent decrease from the fourth quarter of 2001. A total of 787 companies received venture backing, or 207 fewer than the prior quarter.
Ohio Proposes to Join Race With the growing need to identify cleaner sources of power, coupled with recent advances in alternative energy technologies, many states are targeting science and technology investments toward fuel cells. California, Connecticut, Massachusetts and New York all have made investments in fuel cell research demonstration or commercialization projects through energy related research funds.
The Spring 2002 edition of the Isuma, the quarterly Canadian Journal of Policy Research, is dedicated to issues surrounding the New Economy. Many of the 16 papers in the free, online issue will be of interest to readers of SSTI's Weekly Digest, including:
The 2002 Special Session of the Louisiana State Legislature has yielded a series of tax credits that aim to benefit biotechnology companies in Louisiana, promote commercialization of technology, encourage R&D investments, and make the state more competitive in information technology. The tax credits are as follows:
Buffalo
The Buffalo News reports InfoNiagara, a technology council serving 230 IT companies, has signed a reciprocal membership with the Amherst Chamber of Commerce to increase the benefits offered to both organizations' members. The chamber's 2,300 members gain access to InfoNiagara's training and professional development programs, according to the paper, while the tech council is able to offer its members a variety of insurance programs the chamber has in place.
The president of the Buffalo Economic Renaissance Corp, Alan DeLisle, is leaving to become director of the Office of Economic and Employment Development in Durham, N.C.
Larry Kline has resigned as president of the Wisconsin Technology Council to take a position as chief financial officer and vice president for business development with a biotech firm.
The president of the Buffalo Economic Renaissance Corp, Alan DeLisle, is leaving to become director of the Office of Economic and Employment Development in Durham, N.C.
Larry Kline has resigned as president of the Wisconsin Technology Council to take a position as chief financial officer and vice president for business development with a biotech firm.
Jeffrey Skolnick has been named executive director of the new Center of Excellence in Bioinformatics based at the University of Buffalo. In introducing Skolnick, Governor Pataki confirmed the new state budget includes $50 million for the center, according to the May 10 issue of the Buffalo News.
The scenario: You are a state legislator and have learned high oil and gas prices will provide the state coffers with at least enough surplus revenue over the next five years to have approximately $1,000 per resident. What do you do with the money?
With a state legislature that only meets for 90 days every two years, opportunity for positive change in Montana's public-supported efforts to build a tech-based economy is limited. For the proposed $20 million Big Sky Economic Development Trust Fund - one of new Gov. Brian Schweitzer's largest economic development initiatives - the 90th day, April 26, is fast approaching.
The perennial or biennial efforts to secure funding from state legislatures to support tech-based economic development (TBED) programs can create significant limitations on the design and execution of programs targeting research or early-stage, seed capital investments. Fixed endowments such as the one created by Wyoming and the Permanent Big Sky Economic Development Fund proposed in Montana (see both stories above) are ideal, but getting the initial payment approved by a legislature can be difficult.
For 20 years, small tech firms and researchers in Minnesota called on Minnesota Project Innovation (MPI) for assistance in developing competitive proposals for the federal Small Business Innovation Research or Small Business Technology Transfer (SBIR/STTR) programs. On Feb. 28, the MPI Board of Directors voted to officially transfer program operations to the state Department of Employment and Economic Development (DEED).
Many communities around the country have established authorities to oversee the real estate, infrastructure and management issues of their technology parks. Few of those authorities, however, provide direct grants to support industry-university R&D or commercialization projects. This more proactive approach to growing future tenants is the thinking behind a pilot program created last year for the Leon County Research and Development Authority (LCRDA) in Tallahassee.
If the U.S. is to sustain its international competitiveness, national security and the quality of life for its citizens, then it must make significant improvements in the participation of all students in mathematics and science, says a new report from the Business-Higher Education Forum (BHEF).
The National Science Foundation (NSF) recently released a report detailing a full range of statistics yielded by its 2001 Survey of Industrial Research and Development. Data show 31 states experienced a 10 percent or greater increase in their industrial R&D performance over a four-year period, 1998 to 2001. Twelve states experienced declines during the same period.
Members of the House Science Committee introduced legislation this week that would place the National Science Foundation (NSF) on a track to double the agency's budget in five years. The bill, H.R. 4664, authorizes a 15 percent increase for NSF for each of the next three years.
SSTI has compiled the 2001 statistics from the ten federal agencies participating in the Small Business Innovation Research (SBIR) Program to help states gear up for the next round of competition for the Federal and State Technology Partnership and Rural Outreach Programs (FAST and ROP, respectively). SBIR statistics are also used by several states as one measure or indicator for innovation indices and S&T report cards.
Earlier this week, the Michigan Economic Development Corporation (MEDC) and the Michigan Business Roundtable released a benchmarking study that used 140 indicators across seven areas to compare the state's competitiveness with 17 other states.
Savannah, Georgia
Washington Technology Center is seeking someone to become the first full-time program manager for the Northwest Energy Technology Collaborative. The Collaborative is a public-private partnership committed to accelerating the emergence of the Pacific Northwest's energy technology industry. The Collaborative seeks to build market-based programs that support businesses, entrepreneurs, investors, researchers and policymakers to address challenges facing this emerging industry.
Marv Clement, former manager of Entrepreneurial Programs at Pacific Northwest National Laboratory in Richland, Washington, retired in April 2002.
Bob Filka, vice president of strategic initiatives for the Michigan Economic Development Corporation, is leaving to become chief operating officer of the Michigan Broadband Authority Board. William Rosenberg will become the new board's first director.
Marv Clement, former manager of Entrepreneurial Programs at Pacific Northwest National Laboratory in Richland, Washington, retired in April 2002.
Bob Filka, vice president of strategic initiatives for the Michigan Economic Development Corporation, is leaving to become chief operating officer of the Michigan Broadband Authority Board. William Rosenberg will become the new board's first director.
Alex Fisher, chief of staff for Tennessee Governor Don Sundquist, is leaving to become the director of technology transfer and economic development at Oak Ridge National Laboratory.