The Economic Development Administration (EDA) has announced the seven recipients of the inaugural STEM Talent Challenge, awarding a total of $2 million in grants through the inaugural STEM Talent Challenge, which aims to boost local science, technology, engineering, and math (STEM) talent.
President Joe Biden’s nominees to economic and energy roles have experience with regional growth initiatives. Readers of the Digest may be familiar with some of the names, as we have covered their activities in their previous roles. The nominees of the president’s economic team include former Rhode Island Gov. Gina Raimondo, nominated to lead the U.S. Department of Commerce, and Don Graves as deputy secretary; Isabel Guzman nominated to become administrator of the Small Business Administration (SBA); former Michigan Gov.
President Joe Biden has named geneticist Eric Lander the director of the Office of Science and Technology Policy (OSTP) and the president’s science advisor. Biden also promoted the science advisor role to a cabinet-level position, becoming the first president to do so, stating that, “science will always be at the forefront of my administration.”
Deals raising at least $50 million grew by nearly one-quarter in 2020, driving an additional $18 billion in deal value to a new record of $156 billion invested. This data, from the PitchBook-NVCA Venture Monitor, suggests that the total venture capital market will see a slight decline in investment deals overall from 2020.[1] This slip in deal activity is driven by what is currently an 11 percent decline in seed or angel deals and a 20 percent decline in early venture capital deals.
The U.S. Small Business Administration has announced the winners of two award programs. The Lab to Market (L2M) competition was launched in September and recognizes organizations, programs and ideas that support R&D innovation ecosytems, particularly those focused on underrepresented communities and pandemic responses. SBA also announced recipients of the annual Tibbetts Awards, which recognizes companies, organizations, and individuals for exceptional success achieved through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
Nearly 75 years ago, the head of the U.S. Office of Scientific Research and Development, Vannevar Bush, published what became a seminal report in the science community. The report chronicled the necessity of basic scientific research, investment by government in science and innovation, and identified the reasons to push the limits of our own knowledge. Science, The Endless Frontier was Bush’s call for a committed relationship between government and science.
Each year more than half of the discretionary portion of the federal budget is spent by the Department of Defense (DOD). In FY 2019, the DOD figure is estimated to be $712.5 billion and 77 percent of it was spent in the 50 states and District of Columbus, based on a new report from the Office of Local Defense Community Cooperation (OLDCC) — formerly the Office of Economic Adjustment. The report outlines those DoD personnel and contractual expenditures in each state for the year.
Each year more than half of the discretionary portion of the federal budget is spent by the Department of Defense (DOD). In FY 2019, the DOD figure is estimated to be $712.5 billion and 77 percent of it was spent in the 50 states and District of Columbus, based on a new report from the Office of Local Defense Community Cooperation (OLDCC) — formerly the Office of Economic Adjustment. The report outlines those DoD personnel and contractual expenditures in each state for the year. The nature and importance of defense spending varies widely by state, as the following SSTI chart and the original DOD report reveal.
The U.S. Department of Energy announced more than $123 million across 46 awards to projects supporting manufacturing innovation. About half of the funds are going to efficiency improvements in manufacturing processes, with the remainder split between improving chemical manufacturing and supporting more efficient facilities and systems. SSTI members included among the project awardees include Argonne National Lab, Sandia National Lab, University of Cincinnati, University of Michigan, and the University of Tennessee.
Beginning in early March, potential wage levels will play a leading role in the selection process that determines H-1B visa recipients, worrying some that it may result in a decrease in the number of international students wanting to pursue their education in the U.S.
The early days of vaccinating against the coronavirus might not be the most receptive time to raise issues of antitrust in the U.S. pharmaceutical industry, but a November 2020 Barcelona GSW Working Paper raises several concerns about the degree and effect of common ownership within big pharma. Does this explain the resistance of drug prices to fall? Should Congress take on the likes of brand firms Johnson & Johnson, Merck and Pfizer, in addition to already challenging the tech giants, in 2021?
Entrepreneurship in the U.S. has declined significantly over the past four decades, which has contributed to an annual productivity growth of 3 to 4 percent less than it would be if entrepreneurship had remained unchanged since the early 1980s. Those are among the findings a report from the Congressional Budget Office (CBO), which points to three contributing factors for the decline and outlines measures policymakers could put in place to help spur entrepreneurship.
As 2020 came to a close, we received word that former Pennsylvania Gov. Dick Thornburgh had passed away on Dec. 31.
As 2020 came to a close, we received word that former Pennsylvania Gov. Dick Thornburgh had passed away on Dec. 31. Obituaries in the New York Times, Washington Post and Pittsburgh Post-Gazette, rightly focused on his tenure as U.S. Attorney General and his two terms as governor, including his handling of Three Mile Island shortly after becoming governor. But I would like to focus on his legacy as it relates to technology-based economic development (TBED) and as a person.
This week’s SSTI Weekly Digest contains a full slate of stories, some of which focus on the federal government. To report these stories without commenting on yesterday’s events and not acknowledge what has occurred over the last 24 hours could give the impression that we do not think the assault on the Capitol was significant. Nothing could be further from the truth.
Before America had a pandemic to fight, U.S. governors collectively expected 10.8 percent more revenue to work with in FY 2021 than current estimates projected in the latest National Association of State Budget Officers (NASBO) survey. Thirty-five states reported in the semi-annual survey released Dec. 23 that general funds had not met expectations for FY 2020; 19 states made mid-year cuts as a result.
Before America had a pandemic to fight, U.S. governors collectively expected 10.8 percent more revenue to work with in FY 2021 than current estimates projected in the latest National Association of State Budget Officers (NASBO) survey. Thirty-five states reported in the semi-annual survey released Dec. 23 that general funds had not met expectations for FY 2020; 19 states made mid-year cuts as a result.
The United States Patent and Trademark Office (USPTO) has issued a request for comments regarding the development of a national strategy to build a more demographically, geographically and economically inclusive innovation ecosystem.
A thriving innovation economy requires a robust R&D enterprise — with participation by academia, government, and the private sector. As a substantial performer and funder of R&D in the United States, the strength of private industry’s R&D activity in a region can provide an indication of the region’s capacity for bringing innovative technologies to market.
A thriving innovation economy requires a robust R&D enterprise — with participation by academia, government, and the private sector. As a substantial performer and funder of R&D in the United States, the strength of private industry’s R&D activity in a region can provide an indication of the region’s capacity for bringing innovative technologies to market. Using data from the recent release of the National Science Foundation’s 2018 Business Enterprise R&D Survey, this SSTI analysis shows that while total R&D performed domestically by private companies in 2018 increased over 2017, as did the share of the R&D that was paid for by companies, this was not the case for all states.
The National Institute of Standards and Technology (NIST) has continued to follow through on improvements to federal technology transfer proposed through the Return on Investment initiative. In December, the agency revealed legislative text for statutory changes and, on Monday, released a notice of proposed rulemaking related to Bayh-Dole.
Near the end of 2020, Congress passed the FY 2021 defense authorization (overriding a presidential veto) and folded multiple policy bills into the joint appropriations and coronavirus relief bill. This legislation includes new authorizations for semiconductor research facilities, clean and renewable energy innovation, and new studies of assets for critical research areas.
Innovation-related policies within the National Defense Authorization Act (NDAA) for FY 2021 include the following:
The final FY 2021 budget provides $1.4 trillion in total federal funding, including increases in some programs affecting the innovation economy. Among SSTI’s Innovation Advocacy Council priorities: EDA’s Build to Scale received an appropriation of $38 million, SBA’s Regional Innovation Clusters received $6 million, and SBA’s Federal and State Technology (FAST) program received $4 million. These are just a few of the federally-funded initiatives that support regional innovation economies and a wide range of federal R&D activities.
The relief bill passed last night falls short of assisting states that face strains on their budgets and increasing demand for assistance from their constituents. However, the bill does provide $900 billion for the first broad COVID-19 relief package to pass since the CARES Act was signed into law on March 27th. The major items in this legislation are the extension of unemployment insurance benefits, direct payments to individuals, and a new round of loans through a modified Paycheck Protection Program.
In a year that has seen the economy drop off a cliff, unemployment skyrocket and racial discrimination shock the consciousness of a nation, one might think all hope is lost. But there are those who are working to take this moment in time and re-emerge on the other side a stronger, more inclusive nation. As many workers face the prospect of a job that may never return, Americans in a more comfortable position who have been able to shift their work to remote locations have applauded the work of those left on the front lines during the current pandemic.
In a year that has seen the economy drop off a cliff, unemployment skyrocket and racial discrimination shock the consciousness of a nation, one might think all hope is lost. But there are those who are working to take this moment in time and re-emerge on the other side a stronger, more inclusive nation. As many workers face the prospect of a job that may never return, Americans in a more comfortable position who have been able to shift their work to remote locations have applauded the work of those left on the front lines during the current pandemic. And a realization that the economy wasn’t always working for all, and the American dream was becoming more of a nightmare for large segments of the population, is coalescing into action for better jobs and greater inclusion.
This week, an alliance of workforce partners has begun to release a suite of tools designed to help those who have worked to build their skills through experience, but lack a four-year degree. A recent report reveals how those who have worked to build their skill set have nonetheless experienced stagnant or downward wage trajectories. Turning that tide to a more positive outcome is the driving force behind many in the workforce development field. In this story we look at the efforts of Opportunity@Work and the Center for Workforce and Economic Opportunity at the Federal Reserve Bank of Atlanta, both of which are part of Markle’s initiative known as Rework America Alliance.
In nearly every research institution, there are individuals who achieve oversized impacts. In the academic environment, publications and citations were the traditional standard bearers for advancing science, engineering and discovery — unfortunately, tenure and title are still stubbornly tied to these measures in universities. Patents became the next tier for measuring performance many years ago.
The incoming Biden administration continues to outline its priorities for the Federal Communications Commission. According to the Brookings Institution, net neutrality, broadband access and 5G security will be among the next administration’s top policies. Executing on these priorities will require both a new FCC chair and legislative action.
The clean energy sector has continued to feel the economic strain brought on by the COVID-19 pandemic, with many businesses citing the need for additional federal assistance to prevent future employee layoffs and furloughs.