Though Silicon Valley and New England still dominate the U.S. venture capital landscape, several other regions - whether through local initiatives or the natural evolution of the economy - have emerged as respectable national hubs of investment over the last decade. Some areas, like San Diego, have seen greatly expanded investments and have joined the top tier of venture markets as VC firms turned their attention toward biotech.
Publisher's Note: SSTI notes with much sadness the March 5 passing of Indiana State Sen. David Ford, following a battle with pancreatic cancer. David was a good friend not only of SSTI's, but also of the tech-based economic development community across the nation. In addition to being a tireless and cheerful advocate for investing in science and technology, he was also a gentleman in the true sense of the word, and we miss him greatly.
The Oklahoma Center for the Advancement of Science and Technology has announced a trio of new programs. Last month, the OCAST governing board approved a business plan for 2007 that committed $10 million of recently appropriated revenue for high-tech development. OCAST is devoting much of this funding to a new seed capital program, awards for plant science research, and a program to encourage the use of nanotechnology in manufacturing.
The Canadian Government this week released its budget for the 2008-2009 fiscal year, which includes several new TBED-related initiatives and increases in funding for a few existing programs. The government plans to leverage its relatively strong fiscal position by providing tax relief and paying down the national debt, while providing $606 million for workforce development and $440 for research over the next two years. Major science and technology (S&T) initiatives in the 2008 budget include:
Three states recently wrapped up their 2008 legislative sessions, resulting in the passage of operating and capital budgets for the upcoming fiscal year. State lawmakers approved funding for new and existing TBED initiatives aimed at diversifying the states' economies through increased investments in energy programs, higher education research initiatives and science, technology, engineering and mathematics (STEM) fields.
South Dakota
Earlier this month, three universities - Stanford University, the University of Texas at Austin and the University of California, Berkeley - announced partnerships with the King Abdullah University of Science and Technology (KAUST), a graduate-level research university set to open in Saudi Arabia by September 2009. Each of the U.S.-based universities will assist with the development of the following initiatives within specific academic fields of study at KAUST:
The presence of "surrogate universities" - that is, nonacademic institutions able to attract a skilled workforce, produce marketable innovations and cultivate local entrepreneurship - have greatly influenced the growth of the tech-based economy of Boise and Idaho's Treasure Valley. Furthermore, distinctions in these surrogates' culture, innovation model and marketable products may help to explain the development of new technology firms in the metro area.
The U.S. Department of Homeland Security (DHS) recently announced the recipient universities to conduct security research through five new Centers of Excellence. These centers will develop new technologies to prevent natural and man-made disasters, improve government response to such crises and monitor the nation's shores and borders.
State universities and research programs depend on public support to develop and commercialize new technologies, but the actual science involved in these discoveries can seem intimidating and arcane to the layman. How then should a state go about engaging the public in scientific research?
George Bald is returning to serve as Commissioner of the New Hampshire Department of Resources and Economic Development. Bald served in the position from 1998-2004.
George Bald is returning to serve as Commissioner of the New Hampshire Department of Resources and Economic Development. Bald served in the position from 1998-2004.
Dr. R. Kelly Dawe was named the inaugural Georgia Research Alliance (GRA) Distinguished Investigator, a new level of investment made by GRA.
Douglas Foy, Secretary for Commonwealth Development for Massachusetts, announced his resignation effective in March.
Aaron Greenfield will serve as the new director of the Anne Arundel County Economic Development Corp. in Maryland.
The six-month-old Information Technology Association of Wisconsin selected Jim Rice to serve as the organization's first president and CEO.
South Carolina Gov. Mark Sanford named Joe Taylor to serve as the new Secretary for the S.C. Department of Commerce. Taylor succeeds Bob Faith, who is taking Taylor's position as chairman of the S.C. Jobs-Economic Development Authority.
Using the state’s regional advantage, the Rhode Island Economic Development Corporation (RIEDC) wants to create high-wage jobs in targeted industry sectors and establish new equity and financing programs that provide growth capital to sustain the ventures, the agency announced last week.
The following overview is a synopsis of selected recent announcements from research parks across the nation, including new tenants, groundbreakings and tools for financing start-up companies.
The 2008 Excellence in TBED Awards call for applications is right around the corner, and this year, your organization could be recognized as a national leader in the TBED community.
As an award winner, you:
The innovation gap between Europe and the U.S. is shrinking by several measures, according to the latest benchmarking study from the European Union (EU). The size of the gap remains significant, however, due in part to factors such as an increasing public R&D intensity in the U.S. and a decreasing public R&D intensity in the EU.
Venture capitalists invested almost $2.5 billion in China in 2007, according to a new report from Dow Jones VentureSource. That figure is a 5 percent increase over the 2006, and the highest since 2001, despite a decrease in the number of deals. Though investment is not growing quite as quickly as it is in the U.S., where venture investment rose by 8 percent last year, China is becoming a key global market for venture investment.
Last week, three venture capital firms were chosen by the Department of Energy (DOE) to participate in its new Entrepreneurship in Residence (EIR) program, a pilot initiative designed to get advanced energy technologies out of the federal labs and into the marketplace. In the program’s design, an entrepreneur affiliated with each venture capital firm will work with the selected DOE laboratory staff in order to identify and evaluate marketable technologies.
Gov. Bobby Jindal unveiled his fiscal year 2008-09 budget to the legislature last week, focusing heavily on improving the existing workforce and creating a business climate that encourages entrepreneurship.
The Carolina Center for Competitive Economies (C3E) at the University of North Carolina, Chapel Hill, invites applications for the position of Associate Director for Research.
Temi Bova is the new director of Union College's U-start technology business incubator in Schenectady, N.Y.
The Ben Franklin Technology PArtners of Central and Northern Pennsylvania promoted Stephen Brawley to serve as president and CEO.