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.
Babson University researchers report that nearly half of all the world's entrepreneurs are between the ages of 25-35 years, according to the 2012 edition of the Global Entrepreneurship Monitor. Also, in all geographic regions, 25-34 year olds reported the highest rates of entrepreneurship. Babson researchers, however, emphasize that large numbers of entrepreneurs are found at all age ranges. Read more...
A new article from Governing magazine is promoting free digital access to public information, or “Open Data,” as a pathway for promoting entrepreneurship and government cost-savings. When governments release free digital public records entrepreneurs can use the information to create apps that provide valuable and profitable services to consumers.
Through a combination of new funding in the current budget and legislative measures aimed at coordinating state efforts and measuring progress, Gov. Bob McDonnell hopes to showcase Virginia as the premier destination for entrepreneurs to start or relocate a business. New funding, to the tune of nearly $10 million, would be used to establish a regional accelerator grant program, cybersecurity accelerator, and career pathways development program, among others.
Innovation was a key term used in Gov. Andrew Cuomo's State of the State address and is referenced heavily throughout his economic development agenda for the upcoming year. The governor proposed creating innovation hot spots, an innovation network and innovation venture capital fund. Efforts would be focused on accelerating technology transfer and providing funds to attract startup companies. Cleantech investments and support for competitive university-based projects that emphasize economic impact also are a priority for the governor.
SSTI's Tech Talkin' Govs series has returned for its 13th annual edition. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses across the nation. The first edition includes excerpts from speeches delivered in North Dakota, New Hampshire, New York, and Virginia.
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...
Amid the economic uncertainty surrounding fiscal cliff negotiations, and what it means for states, some governors are erring on the side of caution when it comes to funding recommendations for the upcoming year. At the same time, several state budget officers are projecting significant revenue shortfalls in the current fiscal year or biennium as a result of lower than expected tax collections.
In a new report, the National Academies' Institute of Medicine (IOM) praises the remarkable research output of California's Institute for Regenerative Medicine (CIRM) during its first seven years, but recommends several changes in oversight that could improve the quality and defensibility of its work. IOM suggests that external scientific reviews and independent oversight of the institute's management could help ameliorate concerns about conflicts of interest and increase transparency.
In an attempt to leverage the economic promise of young people, the state of Kentucky is launching a new public-private initiative designed to enhance creative thinking and entrepreneurial skills. The Governor's School of Entrepreneurs will be launched this summer as an experiential program that brings together representatives from Kentucky's science, engineering, design, entrepreneurial, and higher education communities to teach promising high school students from across the state on business fundamentals, entrepreneurship, product design, and creative thinking.
A new report released by Deloitte on "U.S. Public Opinions on Manufacturing" reveals that a strong majority of Americans consider manufacturing to be the most important industry in the country. But while nearly two-thirds of Americans (64 percent) believe our manufacturing industry can be globally competitive in the 21st century, most Americans (46 percent) see the manufacturing sector getting weaker or at best staying the same (32 percent).
In a report, the President's Council of Advisors on Science & Technology recommends that the federal government should launch a coordinated effort to boost American agricultural science by increasing public investments.
Two organizations have in recent weeks called on the United States to create a national federal office of innovation to help focus and concentrate innovation across the country.
The National Research Council has released a report that establishes key indicators for measuring improvement to the U.S. K-12 science, technology, engineering and mathematics (STEM) education system. The report lays out three key goals for national K-12 STEM education: expand the number of students who pursue advanced degrees and careers in STEM fields, and broaden sector participation for women and minorities; expand the STEM workforce and broaden the participation of women and minorities; and, increase science literacy for all students in the U.S. education system.
In the face of the spiraling unemployment in Greece and Spain, the European Union (EU) received encouraging news regarding the economic recovery of firms across its 27-member states.
Gov. Lincoln Chafee has nominated Deputy Director William Parsons to lead the Rhode Island Economic Development Corporation.
Gov. Rick Perry has appointed J. Bruce Bugg, Jr. as president and chairman of the Texas Economic Development Corp.
Gov.-elect Steve Bullock tapped Meg O'Leary to be the Montana Commerce Department director.
With U.S. private sector R&D activity declining and global competition intensifying in areas of U.S. expertise, it is clear the U.S. must take strategic action to maintain its position as the world leader in R&D and prevent innovation from leaving our shores. Last week, the Department of Energy announced 66 breakthrough energy-related projects would receive a total of $130 million through its OPEN 2012 program.
Encouraged by promising commercialization efforts, new companies created and an impressive leverage of outside funding, Gov. John Kitzhaber has proposed a more than 50 percent increase in Oregon innovation efforts through the state's signature research centers. The governor's budget proposal for 2013-15 also includes funding to address small business capital needs and to better align workforce programs with employer needs. Calling his two-year spending plan an “education investment budget,” Gov.