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In a field once dominated by government agencies and incumbent organizations, the aerospace and defense (A&D) industry has experienced a rapid landscape change over the past decade as private companies and high-profile organizations launch commercial space programs and advance novel exploration and communications projects. These private companies present new competition to the traditional A&D industry.

Latino- and Latina-owned businesses represent the fastest growing demographic in the U.S. business ecosystem, growing revenues and creating jobs for all Americans, according to the Stanford Graduate School of Business.

Communicating Tech-based Economic Development

Oct. 31 @ 3 p.m. ET | Free

An independent selection committee recently announced the incoming board of trustees that are expected to oversee a nonprofit entity that

Most states, businesses, families, and individuals spent the pandemic walking on the edge of a jagged economic cliff. Luckily, there were some guardrails in the form of fiscal recovery funds, disaster loans, paycheck protection, and childcare grants. These devices helped pull thousands back from the edge.

But now, with the pandemic emergency over, the cliff is still in sight, but the guardrails are gone. Without them, will states, businesses, and others tumble over the economic cliff? The answer may depend on how they used those guardrails during the pandemic.

NSF recently announced the first Experiential Learning for Emerging and Novel Technologies (ExLENT) investment of $18.8 million to 27 teams at U.S. institutions of higher education, including teams led by minority-serving institutions and historically Black colleges and universities. Each team will receive up to $1 million for up to three years.

The U.S. Department of Energy (DOE) recently announced up to $325 million for 15 projects to accelerate the development of long-duration energy storage (LDES) technologies. These demonstration projects will increase community control of local power systems, mitigate risks associated with disruptions to the grid, and help communities develop reliable and affordable energy systems.

Independent contractors notched a win as the U.S. Department of Labor (DoL) this month announced the withdrawal of the “Independent Contractor Rule.” The rule, which was issued two weeks before the change in presidential administrations, would have made it easier for employers to classify workers as independent contractors and would have provided employers more security from challenges by contract workers for minimum wages and overtime pay.

As the most ambitious innovation initiative that Europe has ever undertaken, the European Union (EU) recently launched the European Innovation Council (EIC) with a €10 billion (about $11.7 billion USD) fund that will provide both non-dilutive grants to and direct equity investments in innovative startups within the union. After a successful three-year pilot, the EIC is merging with the current Executive Agency for Small and Medium-sized Enterprises, and has already launched its first official program with a call for proposals worth €1.5 billion (approximately $1.8 billion USD).

The economies, the wellbeing, and the stories of the U.S. and China have become so intertwined and so interdependent that individuals not following global political-military-ideological studies might be excused for getting lost in the narrative, let alone following such a complex plot. There won’t be a simplifying explanation offered here, but there are a few new twists in the storyline SSTI wanted to share that may relate to the innovation investment, product development, and exit strategies for some parties within the TBED community. 

The Department of Defense recently awarded six Defense Manufacturing Community Support Program (DMCSP) grants totaling approximately $30 million from the Office of Local Defense Community Cooperation (OLDCC). The DMCSP invests long-term in critical skills, facilities, workforce development, research and development, and small business support to strengthen the national security innovation base.

SBA's Office of Investment and Innovation recently established the Invention, Innovation, and Entrepreneurship Advisory Committee (IIEAC) to serve as an independent source of information, advice, and recommendations to the Administrator on matters broadly related to the U.S. startup and small business innovation ecosystem. 

The committee will provide information and recommendations on how SBA can:

In the absence of cohesive federal policies or regulations involving the growing development and use of artificial intelligence (AI), states’ governors and lawmakers are undertaking studies and crafting legislation that seeks to balance governance and implementation of this evolving technology. The studies and legislation are intended to protect constituents from AI’s possible harms without hindering potential uses or contributions of AI to government services or medical, science, business, and educational advancements.

Despite the pandemic and accompanying global economic slowdown in 2020 and 2021, U.S. business spending on research and development (R&D) activities increased by nearly $65 billion (12%), rising from $538 billion in 2020 to $602 billion in 2021. This increase was led by a $61 billion, or 13% increase, in R&D paid for by the company, compared to a $3 billion, 5% increase, in R&D paid for by others.

The COVID-19 pandemic highlighted the country’s reliance on overseas manufacturing production when there was a lack of medical supplies and equipment to treat those affected by the virus as supply chains were reliant on supplies from outside the country. A recent report from Heartland Forward finds that many domestic and foreign companies are recognizing the strategic advantages of locating in the U.S. and are considering reshoring operations.

While venture capital (VC) deal activity by women-(co)founded and women-led companies has increased over the last 15 years by some metrics, a new report indicates that the 2020 pandemic and global recession impacted these companies more than companies founded and led by men.

The closely watched regional competition to identify the final two hubs of the ARPANET-H, a $2.5 Billion health innovation initiative of the Advanced Research Projects Agency for Health, has come to a close with the selection of two firms to operate the Customer Experience and Investor Catalyst elements of the national network.

As of this writing, Congress has yet to agree to fund the federal government beyond this Saturday, Sept. 30.

Created in 1987, the NSF Science & Technology Centers (STCs) program has supported exceptionally innovative, complex research and education projects that have opened up new areas of science and engineering and developed breakthrough technologies through integrative partnerships. The recent announcement of $120 Million in NSF funding for four new centers will bring the current active center portfolio to 17.

Families and young professionals from New York and New Orleans, San Francisco and San Antonio, Omaha, and expat communities abroad are homing in on one unassuming Midwest city as the ideal place to relocate and put down roots. If you tried to guess the destination, you probably wouldn’t guess Tulsa, Oklahoma. But this city is, in fact, one of the nation's hottest relocation destinations.

SBA recently announced its 2023 Growth Accelerator Fund Competition Stage Two prize winners. The 35 award-winning accelerator partnerships will receive $150,000 each in unrestricted funds.

The United States boasts the world’s largest economy and is home to many of the most prestigious, highly ranked universities across the globe, leading to a highly educated population. Overall, advanced education pays off in terms of personal earnings and national innovation. Factors like field of study, skills, and job demand can greatly affect earning potential.

The U.S. Department of Commerce’s Economic Development Administration (EDA) recently announced the 11 recipients of the 2023 STEM Talent Challenge. The challenge supports programs to train science, technology, engineering, and math (STEM) talent and fuel regional innovation economies across the nation.

Those who gather data know that the results collected in 2020 during pandemic shutdowns do not reveal actual trends. This phenomenon was the case for a recent survey by Babson College researchers for the Global Entrepreneurship Monitor Adult Population Survey (GEM APS). They found that rates of entrepreneurship, which had been on the rise since 2015, dropped in 2020. However, their newest research shows an upward trend in 2021 and 2022, when the U.S.

Commerce Secretary Gina M. Raimondo testified Tuesday to the House Committee on Science, Space, and Technology on the implementation of the CHIPS and Science Act. During the hearing, Raimondo spoke about the importance of the Regional Innovation and Technology Hubs and CHIPS manufacturing programs for national and economic security and emphasized the need for additional funding to make Congress’s vision for these programs successful.