Editor's note: Few federal programs that fund research have undergone as much independent review and outside scrutiny as the Advanced Technology Program (ATP) within the National Institute of Standards and Technology and come out with high marks nearly every time. Yet two more independent papers described briefly below find that ATP funds make a positive difference for spurring innovation and commercializing technology.
The Oklahoma Center for the Advancement of Science and Technology (OCAST) has provided the state an 8:1 return on its $78 million investment since 1993, according to From Concept to Commercialization, a new OCAST impact report, and accompanying press release. The state's leading organization for building a tech-based economy finds its client companies also have enjoyed a 90 percent survival rate.
No region of the world encapsulates the aspirations of many metro and regional technology-based economic development programs as Silicon Valley, particularly to the benefits of having a cluster of technology companies feeding off of each other to the mutual benefit of all. The Valley was the global tech leader during the heyday of the IT boom, but is undergoing a tremendous structural shift since the dot-com bubble burst.
Massachusetts Governor Mitt Romney recently announced a plan to spur job growth in the state by tapping the expertise of area business, community and education leaders through Regional Competitiveness Councils. Six such councils will represent the Berkshires, Cape and Islands, Central, Northeast, Pioneer Valley and the Southeast regions of the state.
Community buy-in to building a technology-based economy is vital for TBED success. Establishing a strong private sector commitment to science and technology can make a significant difference, particularly as elected officials are deciding what to cut or trim from the budget. TBED organizations use different approaches to get the buy-in. In states such as Massachusetts (see story in this Digest), the top-down direction from the Governor could provide the group critical access.
More than $4.7 billion of venture capital was invested in 524 private companies, according to Growthink Private Equity Funding Reports for the Fourth Quarter 2002. Companies securing investments numbered 30 less than the previous quarter.
The U.S economy experienced a turbulent year in 2001. However, small businesses demonstrated resilience and strength according to the Small Business Economic Indicators for 2001, a report released by the SBA Office of Advocacy. The February 2003 report states that although economic activity was sluggish in the months leading up to September 2001, economic output grew for the year as a whole.
Senate Version Adds $40M for University R&D, Scholarships
Gov. Ted Kulongoski last month signed Senate Bill 838, creating the Oregon Innovation Council to provide him and the legislature with advice regarding business innovation in order to strengthen competitiveness in global markets. The council will include representatives from industry, education and government.
Gov. Ruth Minner launched over the summer the final component of her New Economy Initiative to provide a network of support and services to technology-based start-up companies.
A concentrated effort to support the Sacramento region's many green tech entrepreneurs could lead to Silicon Valley-style success in clean energy technology (CET), says a new report from the McClellan Technology Incubator and the Sacramento Area Regional Technology Alliance (SARTA).
Conference Only seven days remain until the opening of SSTI's 9th Annual Conference in Atlanta. More than 330 of the nation's top thinkers and practitioners for the TBED community will convene at the InterContinental Hotel seeking guidance from their peers.
On Monday, Oct. 31, the Southern Growth Policies Board, the Southern Technology Council, Georgia Institute of Technology, the Council on Competitiveness and the Georgia Research Alliance will host a one-day Southern Technology Innovation Summit at the Georgia Tech Hotel and Conference Center in Atlanta.
RTI International, an independent, nonprofit research organization based in Research Triangle Park, N.C., is seeking someone for the position of economic development analyst.
Due to SSTI's annual conference being held in Atlanta next week, the next issues of the Digest and Funding Supplement are slated for Nov. 7, 2005.
Certified economic development professionals have an extra reason to attend Building Tech-based Economies: From Policy to Practice, the nation's premier educational and networking experience for the TBED community. The 2003 SSTI Annual Conference will be recognized by the International Economic Development Council (IEDC) as a professional development event that counts toward the recertification of Certified Economic Developers (CEcD).
With more than 20 new governors and hundreds of newly elected state legislators, mayors and city council members across the country, many states and communities are seeing fresh faces in key positions that will influence the shape and direction of tech-based economic development policy, funding and program implementation. SSTI encourages its readership to get issues of the SSTI Weekly Digest in their hands to help bring your new partners into the larger tech-based ED community as soon as possible.
Congress Finished FY 2003 Budget Last Night
In SSTI's final look at the 2003 State of the State Addresses and Inaugural Addresses, we find the importance of building technology-based economies continues to be emphasized by governors across the country, despite – or because of – the down economy. Below are excerpts from speeches given in Michigan, Minnesota, Oklahoma, Rhode Island and Texas.
State budget gaps have grown by 50 percent in the last two months and state policymakers will work to resolve unprecedented budget shortfalls for the next 15 months, according to findings from the latest budget survey released by the National Conference of State Legislatures (NCSL).
With nearly $1 billion in federal R&D funding proposed for the new Department of Homeland Security, many states, universities and companies are exploring ways to be actively involved as R&D partners. Already home to several military and intelligence research activities, with proximity to Washington, D.C. in its favor, Virginia recently announced an effort to further strengthen its competitive position in the funding race.
Governor Tom Vilsack has announced a plan to invest $50 million into the creation of a life sciences initiative to help establish Iowa as a leader in the life sciences. Developed with the Regents Universities, Iowa Business Council and leaders in Iowa's biotechnology industry, the biotech plan's success hinges on a three-part strategy:
NJCST Out, Cancer Research In
Governor John Baldacci used his February 5 budget address to outline a proposal to float a $70 million economic development bond, the majority of which would be dedicated to research and development projects. Citing the successful results of several R&D bond packages approved by voters over the past five years – with last summer's $35 million bond being the most recent – Gov.
Rural economic development policies must build upon the natural assets of rural America, advises the latest issue brief from the National Governors' Association (NGA) Center for Best Practices. Innovative State Policy Options to Promote Rural Economic Development suggests rural strengths include natural resources, local business networks, and an under-exploited entrepreneurial culture.