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Texas Gov. Greg Abbott has signed legislation that (SB 632) establishes a new Governor's University Research Initiative and ends the state's Emerging Technology Fund (ETF). Created in 2004, the ETF provided financial support for research partnerships at private companies and state universities through equity investments and grants. The new initiative will not take equity in companies, but instead will focus on university research and commercialization grants.

In 2009, only 9.5 percent of venture-backed startups had a female founder, according to a research by CrunchBase. By 2014, that figure had almost doubled, reaching 18 percent. During that period, the absolute number of companies with a female founder quadrupled. More women are also seeking early stage funds.

In 2014, 25 percent of all angel investments supported seed and startup stage businesses, down from 45 percent in 2013, according to the year-end report by the University of New Hampshire's Center for Venture Research. Angels, however, remain a key group in early stage financing, participating in 46 percent of all early stage deals. Angels invested $24.1 billion in 2014, down 2.6 percent from the previous year, though both the number of investors and the number of angel capital recipients had modest increases.

Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the SSTI Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review actions in Tennesse and Nebraska.

This week, the U.S. Department of Commerce’s Economic Development Administration (EDA) announced approximately $5 million in total funding for the 12 recipients of the 2014 Science and Research Park Development Grants, used for feasibility and planning for the construction or renovation of science or research parks.

The Canadian Securities Administrators (CSA) announced that securities regulators in five Canadian Provinces have agreed to CSA Notice 45-316 – a common set of rules that will allow startups to raise up to $500,000 CD (approximately $401,600 USD) per year from unaccredited investors via authorized Canadian-based funding portals.

Funding obligated by federal agencies for research and development (R&D) and R&D plant (facilities and fixed equipment) dropped from $141 billion to $127 billion (9 percent decrease) in current dollars from FY12 to FY13, according to a new National Science Foundation (NSF) InfoBrief. NSF researchers found that federal funding for research dropped by 4 percent; support for development efforts dropped by 14 percent; and, R&D plant funds were reduced by 11 percent.

While there has been a significant amount of focus on identifying and cultivating academic entrepreneurs, two recent studies indicate that the environmental factors are equally important in the commercialization of academic research. These studies find that the commercialization approach of the tech transfer offices (TTOs) and institutional characteristics were vital in the success of academic research commercialization.

Business owners felt overwhelmingly optimistic about the future, as over 80 percent of them predicted their revenues would increase over the next three months and that financial conditions would be better as well, according to a new survey from Thumbtack.com and Bloomberg  Professional Service.

Massachusetts needs an advanced manufacturing strategy, preferably one based on regional public-private consortia, according to a new report from the MIT Industrial Performance Center. In Strengthening the Innovation Ecosystem for Advanced Manufacturing: Pathways & Opportunities for Massachusetts, the group recommends that the state look to the federal Institutes of Manufacturing Innovation to develop its own manufacturing infrastructure.

Yesterday, the U.S. House Appropriations Committee approved a Commerce, Justice and Science appropriations bill that includes $11 million in funding for the Regional Innovation Program.  This action marks the first time the House bill has included funding for the program. The Regional Innovation Program is SSTI’s top legislative priority. SSTI thanks all who have expressed support for the program. The Digest will report more when the full House acts and the Senate proposal is released.

The Federal Laboratory Consortium for Technology Transfer (FLC) is looking for stories about successful technology partnerships between federal labs and state or local governments. FLC will select examples from all six FLC regions to be featured on its website and at SSTI's 2015 Annual Conference. In 2013, winners were featured in a publication on state and local partnerships. Read submission requirements...

U.S consumers are subject to a high degree of income volatility and have insufficient savings to overcome shortfalls in their budgets, according to the inaugural report of the JPMorgan Chase Institute. Because of the mismatch between income volatility and consumer spending habits, the authors suggest there is ample room for innovation in the market for companies that help consumers with medium-term financial decisionmaking. The Institute plans to use its access to proprietary data in future report to inform policymakers on topics related to the economy and business.

Many promising technologies created by Oregon startups wither on the vine due to a shortage of high-risk angel capital and many other startups leave the state in search of funding, according to a new report from the Technology Association of Oregon (TAO) – Oregon Angel Investment: The Economic Impact of High-Risk Investment in Oregon's Entrepreneurial Enterprises.

Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review actions in Missouri and Montana.

Forty-one states are spending less per student than before the 2008 recession, according to a recent study from the Center on Budget and Policy Priorities. As a result, more of the burden of higher education costs is being passed on to students, putting college out of reach for many. With state budgets still tight, many states are experimenting with new ways to make a college education accessible to all students.

The National Institute of Standards and Technology’s Hollings Manufacturing Extension Partnership (MEP) released a notice of intent to issue two future Federal Funding Opportunities (FFOs) in 2016 for the recompetition of state MEP centers in 22 states. Each state MEP center provides manufacturing extension services to primarily small- and medium-sized manufacturers in their respective state.

Through the Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) Initiative, an effort among multiple federal agencies led by the Department of Commerce’s Economic Development Administration (EDA), up to $35.5 million in funding is now available to provide investments in communities and workers negatively impacted by changes in the coal industry a

Acceleration in angel activity, as described in the most recent Halo Report, is a continuation of a general trend of increased valuations, deal sizes, and activity by angel groups since the start of 2011. Despite this, relatively little attention has been paid to the impacts of these angel groups on the firms in which they invest.

Two private venture firms have committed to raising a total of $125 million to invest in rural, early stage startups under the Department of Agriculture's Rural Business Investment Program. The program was launched last April, when Advantage Capital Partners launched the first $150 million Rural Business Investment Company (RBIC) fund.

Georgia lawmakers have approved a $40 billion FY16 state budget (HB 76), which is now awaiting the signature of Gov. Nathan Deal. The governor has line-item veto authority over the final document, but most appropriations related to innovation and economic development are consistent with the governor's proposed levels.

The Economic Development Administration (EDA) announced $3 million in planning assistance to communities impacted, or which may be impacted, by contractions in the coal economy.  The funds were made available in part due to the newly established Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) initiative, a new interagency effort to assist communities negatively impacted by changes in the coal industry and power sector.

As a whole, research produced in the U.S. is cited 49 percent more than the world average, according to a new report by the academic publishing company Elsevier in partnership with the Council of State Governments (CSG).

A new website, Resources for Transitioning Economies, has been created to assist those interested in diversifying and strengthening their local economies, with an emphasis on county and regional leaders in coal-reliant communities. As part of a cooperative agreement between the National Association of Counties (NACo) and the U.S.

State Treasurer Janet Cowell announced a second North Carolina Innovation Fund (NCIF), a $250 million commitment to North Carolina-centered companies. Approximately $165 million will be designated to make co-investments in growth stage companies with the potential for a risk-adjusted, high return on investment (ROI) – 20 percent ROI. The second NCIF will make targeted investments into a diverse set of industries that include key sector identified by the state as growth sectors.