With the start of the new year, most governors deliver State of the State addresses or Budget addresses laying out their priorities for the coming year. With revenues for many states relatively consistent with forecasters expectations, lawmakers, with a few exceptions, continue to maintain cautious or constrained views of their funding priorities and proposed initiatives. As a result, many governors in SSTI’s analysis of addresses delivered so far this season, are speaking more about previously implemented programs and their continued successes rather than rolling out many new programs.

Fewer of the youngest and later stage innovation-driven companies are receiving private venture capital at a time when the country needs more of both to retain our global economic leadership, according to data released in the latest report from PitchBook and NVCA. Across 2024, United States VC has seen an increase in overall deal value (+$47 billion) despite a decrease in deal count (-936) since the prior year, reveals the Q4 2024 Venture Monitor report.

Recent headlines have been full of discussion on cryptocurrencies and speculation on significant changes in federal policy related to the technology. Anticipating federal action, leaders of several states are exploring ways to get their own jurisdictions involved in the space. Here are some recent examples, drawing from proposed legislation to implemented policies and structures for acceptance of the financial innovation:

States Considering Bitcoin Reserves

The European Union is engaged in a debate about changing its systems for R&D funding, the first potentially significant changes since its current framework program began in 1984. A group of 15 individuals from research and industry selected by the European Commission last year has submitted a report, Align, act, accelerate, which gives recommendations for overhauling the system.

When Tennessee reported on its first cohort of students after implementing Tennessee Promise, the nation’s first statewide free community college effort, SSTI reported on the program’s impressive early results. The graduation rate had increased over the previous year’s non-Promise cohort, and overall, 3,257 students in the 2015 cohort earned a degree or certificate within five semesters, an 82% increase over the pre-Promise 2014 group.

As SSTI reported earlier this fall in its series of articles on higher education, college tuition and student loan debt are rising.

Since the pandemic, those working on local prosperity through the nexus of science, technology, innovation, and entrepreneurship—the four cornerstones of SSTI’s mission—have seen the largest investment yet by the federal government to catalyze and support their work. It awakened teams of organizations across the country in virtually every city, institution of higher education or region to start or improve innovation-centered economic development strategies.

While most of the country’s attention has been on the contests for control of the White House and Congress, eleven states and two territories, including Puerto Rico, held gubernatorial elections on Nov. 5.

NATCAST, the operator of the National Semiconductor Technology Center (NSTC) tasked with bolstering the United States' semiconductor industry, announced Albany NY and Sunnyvale CA as the locations for two major R&D facilities. The funding comes from the CHIPS and Science Act of 2022, legislation aimed at revitalizing American semiconductor manufacturing and research.

The Innovative Solutions Canada (ISC) program is often compared to the U.S. Small Business Innovative Research (SBIR) program. And, like the SBIR program, ISC has faced criticism from skeptics despite metrics that show the program delivers high returns on investment. When Canada’s Budget 2023 Initiative recommended reallocating 14.1 billion Canadian dollars (CAD) in federal spending, each Ministry was tasked to identify programs that did not address the government’s top priorities.

The Wisconsin Center of Manufacturing & Productivity (WCMP) recently released its fourth annual Wisconsin Manufacturing Report, a comprehensive overview of the state's manufacturing sector.

The TBED community, similarly to research scientists, faces communication challenges with elected officials, regional stakeholders, and even their friends and family. SSTI has conducted three surveys over the last nine years to uncover problematic jargon, illuminate alternative approaches, and inform our members’ communication strategies. At the SSTI Annual Conference, we'll present the latest results from a focus group and survey that will help the community communicate better with non-TBED audiences.

About three-quarters of Americans (76%) say they have either a great deal (26%) or a fair amount (51%) of confidence in scientists to act in the best interests of the public, according to a new Pew Research Center report.

Forty-one states and Puerto Rico voted on 151 statewide ballot measures this fall. Many measures focused on abortion, citizenship, or electoral system reforms. Three measures with direct connection to innovation all were approved by voters, augmenting the strong track record tech-based economic development initiatives have when they are placed directly before voters.

We’ve negotiated an extraordinary room rate for this year’s conference: $209 plus nominal taxes and fees at the conference venue, the Sheraton Grand at Wild Horse Pass in the Gila River Indian Community within the Phoenix, Arizona Metro Region. But our negotiated rate expires once the room block fills or after Monday, November 18.

Reserve Your Room

Additionally, our registration closes on December 3, so why not check both these items off your to do list and do them now?

SSTI will continue the conversation about the SSBCI program at the Annual Conference. SSBCI director, Jeff Stout, will provide an update on the program in The latest on Treasury’s $10 billion investment in small businesses. The session will provide insights into Treasury's current thinking and to better understand how SSBCI might be better leveraged as a regional resource. SSBCI outreach team member Karl Fooks will moderate the session, How regions are adapting to trends in equity investment.

The United States Department of the Treasury’s (Treasury) new 2022-2023 State Small Business Credit Initiative (SSBCI) 2.0 Annual Report highlights the nearly $10 billion program to enhance access to capital for small businesses, particularly those in underserved communities.

The Association of University Research Parks (AURP) recognized Dan Berglund, SSTI president, with a Career Achievement Award at its International Conference earlier this month. In a press release, AURP said, "Through the course of his SSTI career, Dan’s leadership has made a significant contribution to the advancement and recognition of the innovation ecosystem, including the Innovation Advocacy Council.”

SSTI extends a huge “thank you” to all of the organizations partnering with us to make SSTI’s 2024 Annual Conference a success! Please take a moment now to learn more about our partners here and then be sure to visit them in person this December.

CHIPS for America recently announced $285 million to establish the Semiconductor Manufacturing and Advanced Research with Twins (SMART) USA Institute, which will focus on semiconductor manufacturing and advanced packaging.

On Nov.

If you haven’t already done so, now is the time to register for SSTI’s Annual Conference.

The National Science Foundation’s (NSF) Directorate for Technology, Innovation, and Partnerships (TIP) has released a new pilot map with data on over 3,300 awards nationwide managed by TIP starting from fiscal year 2023.

The Economic Development Administration’s (EDA) Regional Technology and Innovation Hubs (Tech Hubs) and National Science Foundation’s (NSF) Regional Innovation Engines (Engines) programs require regions to advance a critical technology area that already has traction in their region.

NSF has released data on nearly 300 letters of intent (LOIs) submitted to the NSF Regional Innovation Engines program by lead organization applicants. The data is meant to enable applicant teams to connect and potentially collaborate before the preliminary proposal deadline on Aug.