Fueled by businesses, US R&D performance eclipses half-trillion dollar mark in 2016 and 2017
For the first time, total research and development performed in the United States has surpassed $500 billion, reaching $515.3 billion in 2016, a $22 billion (4.4 percent) increase from the previous year, according to a recent info brief from the National Science Foundation. Furthermore, NSF estimates that larger increases are ahead, with early projections for 2017 showing an additional $26.9 billion increase (5.2 percent).
Useful Stats: Distribution of R&D performance by state
Nearly three-quarters of all research and development was performed by the private sector in fiscal year 2016, though this share differed greatly across the states, according to an SSTI analysis of recently released data from the National Science Foundation’s National Center for Science and Engineering Statistics (NSF NCSES).
Tech Talkin’ Govs, part 8: education, workforce, climate action and rural initiatives focus of innovation efforts
This week we nearly finish our state of the state coverage, save two remaining governors (Louisiana and Minnesota) who have yet to present their addresses. In reviewing the speeches for news on innovation efforts, we find education taking the main stage in Florida and Tennessee, while Alabama and Ohio’s governors are hoping to build the state’s workforce, and North Carolina, still recovering from natural disasters, wants to decrease greenhouse gas emissions and provide tuition assistance for community college.
New White House science director, reports: American S&T leadership increasingly through industry
In January, the U.S. Senate confirmed Dr. Kelvin Droegemeier as director of the White House Science and Technology Policy (OSTP), and since the end of the partial federal government shutdown, the director and office have produced informative reports and speeches. Two common threads through these sources are emphases on continued American leadership in key tech sectors — and that this leadership will increasingly occur in conjunction with, or under the direction of, private industry.
Evaluation finds TEDCO programs have strong economic benefit
TEDCO’s current portfolio of assisted companies has grown to 326 companies and more than 3,100 jobs, according to an economic impact report by the University of Baltimore’s Jacob France Institute and TEConomy Partners. TEDCO was created by the Maryland State Legislature in 1998 to facilitate the transfer and commercialization of technology from Maryland’s research universities and federal labs into the marketplace.
TEDCO’s current portfolio of assisted companies has grown to 326 companies and more than 3,100 jobs, according to an economic impact report by the University of Baltimore’s Jacob France Institute and TEConomy Partners. TEDCO was created by the Maryland State Legislature in 1998 to facilitate the transfer and commercialization of technology from Maryland’s research universities and federal labs into the marketplace. The direct Maryland economic activity generated by these core programs totaled nearly $900 million in 2018, a considerable increase from the $572.3 million in economic activity reported in 2015. Of all TEDCO programs, the Seed Investment Fund has the largest direct impact, accounting for more than half of all employment and direct economic activity.
R&D expenditures at FFRDCs rise for fourth straight year; Pi Day Chart!
Research and development (R&D) expenditures at federally funded R&D centers (FFRDCs) increased for the fourth consecutive year in FY 2017, eclipsing $20 billion, according to new data from the National Science Foundation. FFRDCs are privately operated R&D organizations that are substantially financed by the federal government. The FFRDCs that performed the most R&D in 2017 were DOE’s Sandia National Lab, NASA’s Jet Propulsion Laboratory, and DOE’s Los Alamos National Lab.
Research and development (R&D) expenditures at federally funded R&D centers (FFRDCs) increased for the fourth consecutive year in FY 2017, eclipsing $20 billion, according to new data from the National Science Foundation. FFRDCs are privately operated R&D organizations that are substantially financed by the federal government. The FFRDCs that performed the most R&D in 2017 were DOE’s Sandia National Lab, NASA’s Jet Propulsion Laboratory, and DOE’s Los Alamos National Lab. From FY 2016 to FY 2017, the Jet Propulsion Laboratory, based in Pasadena, CA, experienced the largest increase in R&D expenditures, rising 25.5 percent to $2.3 billion. In honor of pie day, the chart below shows the distribution of R&D at FFRDC’s by each administrator type.
New evidence for opioids’ impacts on employment rates
The Federal Reserve Bank of Cleveland has released a working paper that establishes connections between opioid prescription rates and employment rates. The authors use longitudinal data, as well as leveraging the Great Recession as a sort of natural experiment, to provide evidence that opioids not only relate to declining labor force participation, but have likely caused this outcome.
Startup competitions target the circular economy
The circular economy, a phrase meant to redefine economic growth beyond the current “take-make-waste” extractive industrial model, is gaining attention around the world as a way to produce more positive environmental and social benefits. Over the past few months, three cities have announced efforts to promote circular economy startups.
The circular economy, a phrase meant to redefine economic growth beyond the current “take-make-waste” extractive industrial model, is gaining attention around the world as a way to produce more positive environmental and social benefits. Over the past few months, three cities have announced efforts to promote circular economy startups. In New York City, a contest will offer a $500,000 prize to the best idea and business plan that seeks to repurpose the city’s recyclables and manufacture a product to sell to the local market. The City of Phoenix and Arizona State University announced four companies will participate in an incubator affiliated with the Resource Innovation and Solutions Network (RISN). Last fall, public sector partners and the university-based Austin Technology Incubator (ATI) collaborated to launch a new Circular Economy Incubator in the region.
Trump’s budget is DOA, but here are four hurdles for FY 2020 funding
The budget that Congress ultimately passes for FY 2020 will almost certainly bear little resemblance to the President’s “Budget for a Better America: Promises Kept. Taxpayers First.” For example, the White House is requesting again to eliminate EDA and to reduce R&D significantly, despite Congress increasing funding for these activities less than a month ago.
The budget that Congress ultimately passes for FY 2020 will almost certainly bear little resemblance to the President’s “Budget for a Better America: Promises Kept. Taxpayers First.” For example, the White House is requesting again to eliminate EDA and to reduce R&D significantly, despite Congress increasing funding for these activities less than a month ago. Nonetheless, Congress will grapple with a set of issues, such as budget caps and Census funding, that may squeeze the funding available for SSTI members’ priorities. A lot more than a rejection of the White House’s budget needs to happen for science, technology, innovation and entrepreneurship funding to even hold steady let alone increase in FY 2020.
SSTI 2019 Conference Location, Date and Theme Announced
SSTI is excited to announce we are partnering with the Rhode Island Commerce Corporation to bring you and approximately 300 of your peers to Providence on Sep 9-11 for SSTI’s 2019 Annual Conference. Please hold the date on your calendar – or better yet – go ahead and register now to obtain the lowest possible prices for attendance!
Fed study shows little progress in integrating women into executive positions
A recent study by the Federal Reserve Bank of St. Louis showed that women’s increased participation in the labor force has not led to a correspondingly greater participation of women in the highest executive positions at the organizations where they work. In fact, the study showed that women are significantly less likely to lead U.S. businesses than men are, and that this share has remained largely unchanged over the 2000-2014 period.
Appalachian nonprofits can benefit from virtual training hub focused on financial sustainability
The Appalachian Regional Commission (ARC) has opened a new virtual training hub — the Appalachia Nonprofit Resource Center — to help the region’s nonprofits as they navigate the COVID crisis.
The Appalachian Regional Commission (ARC) has opened a new virtual training hub — the Appalachia Nonprofit Resource Center — to help the region’s nonprofits as they navigate the COVID crisis. Teams from regional nonprofits are invited to apply for dedicated technical assistance coaching focusing on long-term operational sustainability during the COVID crisis, and slots for 120 organizations are available. Topics include: short-term financial management; long-term financial management; mission and operations; and fundraising.
R&D investment within energy, health, defense sectors shown to boost employment, revenue
Government investment in R&D within the health, defense, and energy sectors can provide both immediate and long-term benefits in the form of employment, income, and federal and state tax revenue. A new report released by Breakthrough Energy explores these benefits, while also studying the effects that an increase in public R&D spending could have throughout the nation.
States finding creative uses for CARES money to speed and sustain recovery
As the shock of the first wave of the coronavirus pandemic settled and the extent of the economic impact began to become clearer, states are developing creative and long-term plans and programs to breathe life back into their economies. States initially focused federal funds from the Coronavirus Aid, Relief and Economic Security (CARES) Act towards the urgent public health needs of responding to the unfolding crisis and to mitigating the impacts of mandatory business closures.
As the shock of the first wave of the coronavirus pandemic settled and the extent of the economic impact began to become clearer, states are developing creative and long-term plans and programs to breathe life back into their economies. States initially focused federal funds from the Coronavirus Aid, Relief and Economic Security (CARES) Act towards the urgent public health needs of responding to the unfolding crisis and to mitigating the impacts of mandatory business closures. Commerce has gradually resumed, yet unemployment remains high, job creation slow, and states face continued revenue shortfalls months after the outbreak. States are increasingly using novel and impactful ways to leverage CARES Act funding to speed the recovery, and to fortify their economies in a persistent environment of uncertainty over the virus.
Manufacturing Day goes virtual
Every year, manufacturers from around the nation gather on the first Friday in October to open their shop doors to students, prospective employees, teachers, and community leaders. Manufacturing Day (MFG Day) is meant to inspire the next generation of manufacturers and showcases the many career opportunities that exist in today’s modern manufacturing space. Last year, more than 325,000 people participated in MFG Day and over 3,000 events were held nationwide.
CDFI Fund awards $204 million, including to SSTI members
The Community Development Financial Institutions (CDFI) Fund recently announced the recipients of more than $204 million in FY 2020 funding. Much of the agency’s funding is used to support banking and lending services, but several SSTI members were among the 357 awardees. Launch NY received a financial assistance award and Invest Nebraska and Vermont Sustainable Jobs Fund received technical assistance awards.
US at a tipping point in science & engineering, new report shows
At a time that is often referred to as “The Age of Technology,” the U.S. has no coherent strategy for maintaining its high standing as a world leader in science, technology and innovation, and has watched as China has overtaken the country on many indicators of prowess in R&D and innovation.
Tech seeking to address diversity, gender challenge
A leading technology association has stepped up to positively impact tech diversity and inclusion through a new challenge that aims to double the percentage of the state’s Black and Latinx tech workers — currently at 5 and 7 percent respectively — by the end of the decade.
Higher ed playing outsize role in rural economies
The importance of higher education institutions in helping rural communities build innovation-based ecosystems has been detailed in a report released by the Center on Rural Innovation. Higher Ed’s Key Role In Rural Innovation Ecosystems profiles 10 colleges and universities that have been engaged in their area’s innovation environment and explores what techniques each institution has found most useful in building that ecosystem.
Pre-pandemic stress test already showed warning signs for more than 500 colleges and universities
More than 500 colleges and universities nationwide showed warning signs in a stress test that was conducted before the pandemic according to a new series of reports by the Hechinger Report and NBC News. Declining enrollment and decreased state government support had left dozens of universities under financial stress. With the added pressures of the coronavirus pandemic, “the fabric of American higher education as become even more strained,” the report says.
New entrepreneurs are increasingly older, minorities, and immigrants
A recent report from the Ewing Marion Kauffman Foundation examined the changing makeup of entrepreneurship over the period of 1996 to 2019, finding that older people, immigrants, and minorities are becoming new entrepreneurs at increasing rates.
Missouri governor uses CARES funds to support incubator facilities
Missouri Gov. Mike Parson last week announced that $1 million of the state’s CARES Act funding will be used to create a grant for nonprofit and university-based coworker and incubator facilities. The grant will be administered by the Missouri Technology Corporation (MTC). Organizations will be reimbursed with grant funds for expenses related to updating the facilities to encourage social distancing, adopting enhanced sanitation protocols or acquiring PPE to comply with the guidelines of the public health emergency.
House budget increases innovation spending, including IAC priorities
The House has now passed 10 of the 12 annual appropriations bills for FY 2021. Within the total funding is support for key innovation priorities, including $35 million for EDA’s Build-to-Scale (i.e., Regional Innovation Strategies), $6 million for SBA’s innovation clusters program and $4 million for Federal and State Technology Partnerships (FAST). SSTI’s Innovation Advocacy Council had made expanding funding for each of these initiatives a priority for the year.
Value of certificates showing mixed results
Completing a subbaccalaureate program can translate into higher pay and greater employment outcomes compared to those who have no education beyond a high school diploma, but the median salary of those who completed a certificate versus those who did not was the same ($20,000) among students who were no longer enrolled after three years. The results are detailed in a recent brief from the National Center for Education Statistics at the U.S. Department of Education.
NGA releases infrastructure initiative report two months early
The product of a year-long initiative focused on addressing America’s crumbling infrastructure has been released two months early in an effort to help speed the economic recovery following the COVID-19 pandemic. The initiative, called Infrastructure: Foundation for Success, identifies four key federal priorities that should be addressed if America is to rebuild its infrastructure.