A survey of Georgia's 12 regions finds collaboration and leveraging assets to support existing businesses are most critical for enhancing the innovation economy. In support of these efforts, a task force convened by Gov. Nathan Deal recommends increasing funds for the Georgia Research Alliance (GRA), extending the state's angel investor tax credit, and marketing the state to promote its research and innovation assets. Gov.
In last week's edition of the the Digest, we highlighted the three most pressing needs for state and local TBED organizations: Federal, Commercialization & Entrepreneurship and Universities. This special section of the Digest will focus on the Capital, "How To" and Strategy & Alliance Building tracks and how they can navigate your region towards prosperity.
Two recent reports from Wisconsin economic development organizations suggest different paths for the state's economic initiatives. A white paper from the Wisconsin Technology Council (WTC) lays out a plan to increase access to capital for Wisconsin entrepreneurs, create new workforce development strategies, improve the state's infrastructure and business climate, and implement technology development and transfer strategies. Another report calls for greater coordination and streamlining of Wisconsin's existing programs through the creation of two new entities with a statewide reach.
Several components of Gov. Bev Perdue's JobsNOW small business package related to tech-based economic development efforts in North Carolina were approved in the FY11 budget signed into law on June 30. A program to provide matching funds for Small Business Innovation Research (SBIR) will see its budget more than double in the second year of the biennium and life science programs will receive more than $22 million in recurring appropriations. The enacted budget also extends to Jan.
The National Science Foundation (NSF) has begun reporting employment and R&D investment figures for companies that perform R&D based on the agency's new Business R&D and Innovation Survey. The inaugural data, based on 2008 results, shows that U.S. companies that perform R&D employed 27.1 million people worldwide 1.9 million of whom were directly involved in research. Domestic employment within these companies totaled 18.5 million, with 1.5 million R&D workers.
SSTI's Tech Talkin' Govs series has returned for its 12th 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 installment includes excerpts from speeches delivered in Georgia, Iowa, New York, Kentucky, South Dakota, Vermont, and Virginia. Georgia Gov. Nathan Deal, State of the State Address, Jan. 10, 2012 "... I want to announce two ambitious goals.
Virginia Gov. Bob McDonnell unveiled his 2012 legislative and budget actions that support his administration's ongoing Opportunity to Learn K-12 education agenda. The governor's proposed budget also includes $438 million in new K-12 funding over the next biennium.
Building on the momentum of the InvestMaryland initiative passed last session, Gov. Martin O'Malley unveiled a joint venture between the state, federal research labs and academic institutions to accelerate technology commercialization. Under the Maryland Innovation Initiative, participating universities would pay a fee of $250,000 each year and, when leveraged with state funds and private donations, a pool of money would be used to award grants to startup companies seeking to advance research from Maryland labs.
A recent report from the National Governors Association Center for Best Practices provides states with a blueprint to create a skilled workforce based on the success of the Automotive Manufacturing Technical Education Collaborative (AMTEC). AMTEC is a partnership of 30 community colleges and 34 auto-related plants in 12 states that worked to identify and implement improvements in technical education for workers in advanced automotive manufacturing.
VC Investment Up As Cleantech Sector Hits Record High
Atlanta Mayor Kasim Reed unveiled Invest Atlanta — the city's new economic development authority that places a renewed effort on job creation and competitiveness. Invest Atlanta will work primarily to attract new investment, grow international trade, fuel innovation and support entrepreneurship.
Alabama's new strategic plan defines three economic development drivers to help diversify the state's economic development efforts and maximize opportunities for growth. Programs that focus on job creation through innovation, entrepreneurship, R&D, and commercialization are listed among the "renewal" efforts of the three-part plan. This includes establishing a statewide innovation council, designating funds to expand commercialization programs, and creating a mechanism to provide state grant matching for SBIR/STTR awards.
Across the U.S. and Canada, universities continue to forge public-private partnerships focused on creating a formalized approach to turn university research into market-ready products and startup companies. Three universities and their respective partners recently have announced efforts to bring inventors, the community and investors closer together. They also intended to provide potential entrepreneurs with the skills, mentorship and resources need to launch a startup company.
The White House Office of Science and Technology Policy (OSTP) recently issued a request for information (RFI) to gain insight from stakeholders in developing the National Nanotechnology Initiative's (NNI) 2010 strategic plan. OSTP is seeking input about the initiative's goals and objectives, research priorities, investments, coordination and partnerships, evaluation, and policies. The NNI will use these responses to develop a federal common vision for the future use of nanotechnology and to advance the goals outlined in the 2007 under the original NNI strategic plan.
Several states recently enacted spending plans for the upcoming fiscal year, which started July 1 for most states. In Louisiana, Gov. Bobby Jindal signed into law the LA GRAD Act, granting universities more flexibility to raise tuition in return for meeting certain performance goals. Lawmakers in Massachusetts allocated $10 million to continue the state's investment in life sciences, Pennsylvania Gov.
Via Executive Order, Arizona Gov. Jan Brewer established the Arizona Commerce Authority, a quasi-public authority, that eventually will replace the Arizona Department of Commerce. A 34-member board comprised mostly of C-level executives, chaired by the governor, will lead the transition from the old department to the new authority. Gov. Brewer earmarked $10 million in federal stimulus dollars to establish the authority.
West Virginia Governor Joe Manchin became chair of the National Governors Association (NGA) this week and announced a year-long NGA initiative to increase the number of U.S. students who receive college degrees. The initiative was launched with a report on college completion metrics.
An economic development policy and strategic plan presented to lawmakers last month identifies several steps for investing in the innovation community to improve the state's competitiveness. To create a robust and supportive environment for new company formation and tech commercialization, the report recommends increasing by 20 percent annually over the next five years state funding for capital and incubator and accelerator programs. The plan, put forth by Economic Development Planning Council under Gov.
Gov. Butch Otter unveiled plans for a targeted partnership among industry, higher education and government that invests in R&D to produce new technologies — and ultimately — jobs. The governor is asking lawmakers to approve $5 million for startup costs in the FY13 budget. Legislation to be introduced later this session will provide a plan for reorganizing the Idaho Innovation Council and implementing the initiative — called IGEM for Idaho Global Entrepreneurship Mission.
Connecticut Innovations (CI), a quasi-public agency supporting high-tech industries, will match state funds to expand access to capital programs and launch new initiatives supporting tech transfer efforts. CI's board this week announced the deployment of $250 million over five years for activities including SBIR assistance, establishing three technology accelerator hubs and recruiting emerging tech companies nationally and internationally.
A new report from the Center for American Progress contends that increasing globalization, connectivity, access and acceleration of technology has caused an urgent need for investment in innovation. To resolve this issue, the authors believe that the U.S.
The $68.2 million FY 11 budget approved last week for the New York State Foundation for Science, Technology and Innovation (NYSTAR), allows the foundation to continue to provide 10 percent matching funds for research institutions and businesses in order to attract federal, private and industry funds. The budget allocates $29.5 million in FY11 for a matching grants program started with ARRA stimulus funding and $5.2 million for the state's six Centers of Excellence.
Illinois Gov. Pat Quinn recently signed legislation approving a new tax credit to encourage angel investment and extending the state's R&D tax credit one more year. The Innovation Development and Economy Act (SB 2093) allows eligible angel and early-stage institutional investors to take a 25 percent tax credit on investments in small, technology firms. Up to $2 million may be claimed on an individual investment for a $500,000 tax credit. The program is capped at $10 million and will be effective on Jan 1, 2011.
In 2007, the federal government dedicated $111.4 billion to R&D, an amount roughly equal to 0.81 percent of the U.S. gross domestic product (GDP), according to a recent report from the National Science Foundation (NSF). While research-intensive states, such as California, Maryland, Massachusetts and Virginia are the leading targets for federal R&D spending, several other states attracted a comparable amount of federal funding relative to their economies between 2002 and 2007.
The vast majority of basic research performed in this country is funded by the federal government, so odds are most innovations also stem from our federal research investments, right? The generalization may seem logical but it could never be proven. Let alone following research through to any resulting technologies, it is currently impossible even to tell the number of jobs resulting from federal research investments–supporting people in positions ranging from top of the field faculty researchers to research assistants, lab technicians, and administrative/custodial support staff.