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As global economies shift, developing nations are attempting to transition as suppliers of raw materials to nations that are producers of value-added goods. Africa has been a major supplier of raw materials to the developed world. However, it drastically lagged behind in the production of valued-added goods. Recently, African nations have attempted to reinvent their economic development efforts from suppliers to producers by developing programs to grow tech-based economies.

Sens. Moran (R-KS), Warner (D-VA), Rubio (R-FL), and Coons (D-DE) introduced legislation on Tuesday that would continue to spur the economy through the creation of new businesses. Senate Bill 3217, also known as Startup Act 2.0, expands on the initial Startup Act introduced by Sens. Moran and Warner in December, and builds on the success of the JOBS Act passed with bipartisan support in both houses and signed by President Obama earlier this year.

Two common themes emerged in a trio of reports aimed at growing the bioscience sectors in Indiana, New York and Pennsylvania: the need for a sustained financial commitment from the states and the importance of a shared vision and better communication between policymakers and industry leaders. In all three reports, the authors say the payoff is big for the states. The bioscience and life science industries support high-wage jobs and attract significant federal funds.

Indiana

The New York State Energy Research and Development Authority (NYSERDA) announced that it will commit a total of $15 million to Columbia University, the Polytechnic Institute of New York University (NYU-Poly) and High Tech Rochester to create three proof-of-concept centers focused on turning university-developed, clean energy ideas into successful businesses. Each regional center will receive $5 million in seed money over the next five years, cost-sharing required, with the expectation of being self-sustaining once NYSERDA funding ends.

Early January 2nd, President Obama signed the American Taxpayer Relief Act of 2012 (AFTA) into law after it passed in the House by a 90-vote margin the previous evening. While the deal postponed difficult decisions concerning spending cuts and long-term debt reduction measures by delaying the FY13 sequester until March 1, 2013, AFTA averted steep, across-the-board spending cuts and tax hikes set to take place at the beginning of the year.

In 2012, the tech industry lobby substantially ramped up their efforts to influence the federal legislative agenda. In the coming year, they are poised to grow their influence in Washington as debates rage over the future of technology investment programs and regulatory policies.

The Small Business Administration (SBA) announced new amendments to regulations governing size and eligibility for the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Effective January 28, 2013, the new SBA rules address ownership, control and affiliation for participants in the SBIR and STTR programs including participants that are majority-owned by multiple venture capital operating companies, private equity firms or hedge funds.

The Information Technology and Innovation Foundation (ITIF) released the sixth edition of its bi-annual State New Economy Index last month. The report uses 26 indicators to assess the progress states have made adjusting to the realities of the innovation economy. Massachusetts lead in the rankings, as it has since the lauch of the index, while Delaware rose four ranks since 2010 to occupy second place. Read The 2012 State New Economy Index...

Former Oklahoma Treasurer Scott Meacham has been named president and CEO of i2E.

LaunchTN announced Charlie Brock as the organization's new president and chief executive officer and Stuart McWhorter as the organization's new vice-chair.

The second installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Colorado, Nebraska, Nevada, Rhode Island, South Dakota, Vermont, Washington, and Wisconsin. Our first installment was in the Jan. 9 Digest.

Initiatives aimed at commercializing research were among the most common technology-based economic development approaches in 2012 for states seeking faster returns and job growth during a slow recovery. In the new legislative session that began last week in Colorado, lawmakers introduced a bill to increase access to capital for new startup companies in advanced industries aimed at accelerating the tech commercialization process.

According to a new brief from the National Science Foundation (NSF), preliminary 2011 data indicates that U.S. total research and development (R&D) in 2011 was $414.0 billion (in current dollars), an increase of $7.3 billion from 2010 totals ($406.7 billion). These results mark the second straight year of growth in U.S. R&D expenditures following a $1.8 billion decline in 2009 — only the second decline in current dollars since the early 1950s.

Upbeat revenue forecasts and shared economic principles have Republican governors in four states requesting more funds for higher education tied to performance metrics or workforce outcomes. Recent budget proposals introduced in Florida, Ohio, Pennsylvania and Texas focus on competing for talent and jobs through efforts to encourage STEM learning and teaching and incentivizing outcomes such as graduating more students in high-demand fields, conducting research and more. College affordability is addressed through measures that would freeze tuition or cap increases.

In the wake of a potential overhaul to the state's economic development strategy, Gov. Lincoln Chafee received two reports analyzing the strengths and weaknesses of Rhode Island's existing industry clusters and identifying potential new opportunities. The reports provide guidance for consideration by the Sustainable Rhode Island Initiative, a multi-agency effort to develop an integrated approach for the state related to land use, transportation, housing and economic development.

Borrowing from an industry sector phrase used to describe a complete view of investment impact, the Economic Development Administration (EDA) unveiled its new Triple Bottom Line tool to help economic development practitioners and investors assess, compare and communicate the potential impact of projects. EDA says the triple bottom line approach can help better align economic development investments with other community priorities to maximize impact.

The quarterly deadline for submitting grant applications to the Economic Development Administration's (EDA) Public Works and Economic Adjustment Assistance programs has been extended from Friday, September 14, 2012, to Thursday, September 20, 2012. This extension covers only the first funding cycle of FY13 and does not affect other EDA grant application deadlines. More information...

On November 6, in addition to the presidential election, eleven state and two territorial gubernatorial contests will be decided. Seven of these races (Delaware, Missouri, North Dakota, Puerto Rico, Utah, Vermont, and West Virginia) include a sitting governor running for re-election, while the remaining six (American Samoa, Indiana, Montana, New Hampshire, North Carolina and Washington) are open races.

There are only six days left before early registration ends on Monday, October 8. Register today and save at least $100 per registration. This year we are offering two full days of conference activities including 16 breakout sessions, four session tracks, three workshops and two networking receptions. Find out more at: ssticonference.org.

Though innovation and entrepreneurship was notably absent from Wednesday's presidential debate on domestic policy, presidential candidates Mitt Romney and Barack Obama have acknowledged the importance of technological innovation in stimulating the economy and bolstering U.S. competitive capabilities in the global economy.

The White House announced the Make it in America Challenge, a $40 million multi-agency initiative to help regions across the country provide the critical infrastructure, strategic planning, capacity building, technical assistance and workforce development resources necessary to foster insourcing by U.S. firms. Led by the Economic Development Administration, an interagency panel will make up to 16 awards to projects that encourage businesses to bring production back to or expand their operations in the United States.

A culmination of twelve months of data measuring the Illinois innovation economy finds improved economic growth in four sectors: dynamism, capital, talent, and business climate. Positive indicators include record growth in university startups and a significant increase in invention disclosures and patents awarded to Illinois universities. Additionally, venture capital funding reached a ten-year high of $1.4 billion in 2012.

New energy plans unveiled by governors in Connecticut and Mississippi promise to capitalize on current strengths, build capacity for future projects, and encourage public-private partnerships to scale up clean energy projects and create jobs by attracting more R&D investment to the states. Connecticut's draft strategy proposes economic incentives to drive down costs of new technology and maximize the use of clean energy finance banks — an approach that is heralded as a model for other states in a recent policy report.

Register by Monday, Oct. 15 to Save $100! SSTI has extended early registration for our 16th Annual Conference in Atlanta until Monday, October 15! Register now to save at least $100 per registration! Join the more than 250 people who already have signed up for the conference!

Join us for the biggest and best conference yet. This year we are offering two full days of conference activities including 16 breakout sessions, four session tracks, three workshops and two networking receptions.

Several federal agencies have joined forces to launch a new beta website that allows individuals to look at U.S. federal investments in science and engineering from two agencies — the National Institutes of Health (NIH) and the National Science Foundation (NSF). The R&D dashboard gives users the ability to search and download data on grants issued by the federal government to research institutions (investments) and on output activities (e.g., patents and publications) from federally funded research by state, congressional district and research institution.