Facing a projected budget deficit of more than $600 million, Gov. Tim Kaine told lawmakers the state must invest more money in research and commercialization efforts to accelerate Virginia’s progress in key areas.
Building on a successful legislative session in 2007, Gov. Lingle is requesting additional funds to supplement various ongoing TBED programs.
A long-delayed equity capital program in Montana is on its way to becoming a reality. Montana, which received no venture capital investment in 2006 according to the PricewaterhouseCoopers Moneytree survey, has struggled to attract the interest of venture capital firms. The Montana Equity Capital Investment Act, sponsored by State Sen. Jeff Mangan and signed by Gov. Brian Schweitzer in 2005, was intended to make the state more attractive to outside investors, but never seemed to get off the ground.
Policymakers and practitioners continually seek new ideas to integrate into their overall TBED strategies in order to capitalize on innovative approaches and remain a competitive force in the global marketplace. Over the last few months, two new concepts in TBED aimed at supporting higher education have surfaced in New York and Wisconsin with two distinct goals: achieving the status of a world-renowned research capital and increasing college graduates to raise per capita income.
Earlier this year, the Organization for Economic Co-operation and Development (OECD) reported that the U.S. had fallen from fourth to 15th in broadband penetration among OECD countries (see the June 13, 2007 issue). This report came as little surprise to states that have been struggling to extend and improve high-speed Internet service, particularly in rural areas.
By creating Ontario’s Regional Innovation Networks (ORIN) three years ago, the provincial government experimented with how to establish customized systems-specific, but network-integrated approaches to strengthening and supporting regional innovation.
In the quest for a region to become more innovative or attain higher levels of degree attainment, expanding the size of existing education institutions or increasing the number of community colleges and universities seems to be a somewhat practical strategy. But how long after these institutions are created or expanded do they produce a measurable impact on a region’s innovation environment?
Patent activity is a commonly used indicator of a state or region’s innovation capacity. SSTI has prepared a table illustrating the number of patents issued from the U.S. Patent and Trademark Office (USPTO) per 100,000 employees for every state and the District of Columbia for each of the five years from 2002 to 2006. Additionally, the percent change in patents per employee over the five-year period was calculated. For the U.S.
John Reardon will be new Charles County Economic Development Department chief in Maryland, effective in December.
Steven Weathers is the new president and CEO of the Regional Growth Partnership in Toledo, Ohio.
Robert Cresanti was nominated by President Bush to become the next undersecretary of Commerce for Technology.
Jim Denn was named deputy executive director of the New York State Office of Science, Technology and Academic Research (NYSTAR).
Robert Cresanti was nominated by President Bush to become the next undersecretary of Commerce for Technology.
Jim Denn was named deputy executive director of the New York State Office of Science, Technology and Academic Research (NYSTAR).
Peter Gold was appointed associate provost for economic initiatives at Rutgers-Camden.
Eric Griego was appointed assistant secretary of economic development for the New Mexico Economic Development Department.
Hunt Lambert was selected as the new associate vice president for economic development in the Colorado State University system.
Jim Pennekamp will be the executive director of Southern Illinois University Edwardsville's research and business park, effective Dec. 1.
Just as several states have announced projected budget shortfalls, at least three governors have revealed stable fiscal conditions for the coming year with proposed funding to support new and expanded education and research initiatives.
South Dakota
By nature, angel investing is a risky endeavor. Angels are often involved with unproven seed- and early-stage companies and are frequently the first outside investors to become involved in a new venture. Despite these risks, a report released by the Ewing Marion Kauffman Foundation and the Angel Capital Education Foundation argues that angel investors working through investor groups often achieve attractive returns.
The University of Michigan announced last month that it will spend $30 million in the next five years to hire an additional 100 junior tenure-track faculty members to build multidisciplinary research and degree programs.
Federal budget uncertainties, higher health care and retirement benefit costs, a reduced retirement rate and added costs from a structural change from nonprofit lab management have all been mentioned as reasons for the enactment of a workforce reduction plan at Los Alamos National Laboratory. The goal is to decrease the number of lab employees by 500 to 700 workers, and the National Nuclear Security Administration has formally approved the plan, as outlined by Los Alamos’ Director Michael Anastasio.
Federal funding for R&D in academic science and engineering fields totaled more than $30 billion in fiscal year 2006, yet it was not enough to outpace inflation, according to data collected by the National Science Foundation (NSF). After adjusting for inflation, the 2.9 percent increase in federally funded academic R&D expenditures in FY 2006 from FY 2005 was actually a 0.1 percent decline.
So far this year, SSTI's Funding Supplement has made its subscribers aware of more than 1,400 different opportunities to secure funding. If you aren't a subscriber, your client companies, academic researchers, and state and local TBED efforts are at a significant disadvantage!
For the better part of the year, lawmakers in Michigan have faced the daunting task of balancing both a budget shortfall for fiscal year 2007 and a nearly $1.6 billion deficit for FY 2008. An agreement between Gov. Jennifer Granholm and lawmakers was reached in the early morning hours of Oct. 31, following a one-month extension of the deadline and a brief government shutdown.
Colorado The Rocky Mountain Technology Alliance (RMTA) is a recently formed regional development organization for applied research and technology development whose membership includes universities, government organizations and private businesses.