Nearly every university and community seeks to cultivate a niche in new technologies nurturing venture capital, technology transfer and knowledge networks. Many policies have focused on biotechnology as the kernel of future economic development. Meanwhile, budding nanotechnology has started to show its first blooms in the commercial sector.
To encourage investment in high tech companies, the Hawaii Senate recently passed Senate Bill 1695, authorizing $120 million for the State Private Investment Fund (SPIF) and Senate Bill 1696 to allow fiduciaries to make equity investments.
Arizona must begin viewing medical and educational institutions as a major economic driver of the state economy in order to become a leader in the biosciences industry, according to a new report from the Arizona Board of Regents.
While some regional assessments attempt to benchmark economic indicators of smaller regions to those of notable accomplishment such as Silicon Valley or Research Triangle Park, a new study from the Center for Regional Strategies at Virginia Tech compares regions with similar economic and demographic characteristics, a potentially more useful model for other metro areas.
The National Science Foundation (NSF) has released Graduate Students and Postdoctorates in Science and Engineering: Fall 2002, a collection of 54 statistical tables presenting the distribution of graduate students in science and engineering (S&E) across population segments, fields of science or engineering, and by college and state. Overall long-term trends for S&E graduate students from 1975 to 2002 and short-term trends from 1995 to 2002 by detailed fields are presented as well.
As more states settle into their 2003 legislative sessions, fewer Governors are giving Inaugural or State-of-the-State addresses. During the past 10 days, the Governors of Alaska, Delaware, Georgia, Maryland, Massachusetts, Vermont and Wisconsin offered outlines of their priorities for the coming year(s). The following excerpts are directly relevant to building a technology-based economy.
Georgia
The first three installments of SSTI's four-part look at how TBED will play in the 2006 legislative priorities of the governors can be found in the Digest archives at: http://www.ssti.org/Digest/digest.htm
Oklahoma
Contrary to popular belief, intellectual capital and university collaboration - not just lower costs - primarily attract companies to locate R&D activities in locations away from their home country, according to a new study sponsored by the Ewing Marion Kauffman Foundation.
Hard evidence of the increasing global research competence discussed in the Thursby's paper above was provided last week when the Singapore Ministry of Trade & Industry (MTI) announced plans last week to commit $7.5 billion ($4.6 billion US) over the next five years to sustain innovation-driven growth through economic-oriented R&D. All figures below are in U.S. dollars.
Stem cell research, an expanded tax zone redevelopment initiative and faculty/researcher recruitment are all beneficiaries in the fiscal year 2007 budget proposal submitted by Illinois Gov. Rod Blagojevich last week. In addition, while overall funding for the state Department of Commerce and Economic Opportunity (DCEO) is down 16 percent from the FY 2006 appropriation, the governor's request includes several new programs to assist technology entrepreneurship.
Connecticut Gov. M. Jodi Rell is using the midterm budget request as the vehicle to substantially overhaul how the state supports the entire economic development process. Connecticut Innovations, one of the nation's oldest state-created equity finance programs for tech businesses, would be consolidated with departments that cover focus areas ranging from health education and housing to traditional economic development financing.
Improving higher education is a top priority in almost every state, but fewer than half of states have set specific, measurable goals to track their progress in enrolling, retaining and graduating students, according to a new report from Jobs for the Future (JFF), By the Numbers: State Goals for Increasing Postsecondary Attainment.
Despite a decrease of $44.6 million in National Institutes of Health (NIH) funding from fiscal year 2003, Boston held the top spot in total NIH funding for FY 2004, maintaining its lead over New York. The two cities had $1.57 billion and $1.25 billion, respectively.
National R&D spending increased by $10.1 billion in fiscal year 2003, according to a recent National Science Foundation (NSF) InfoBrief. The increase followed an $8.1 billion decrease in FY 2002 expenditures over the FY 2001 level, the data show.
Sometimes, the economic advantages of consolidating state and local initiatives addressing different elements of building tech-based economies outweighs any potential dilution of specific efforts. Other times, the addition of an entirely new entity is required to provide concentrated focus on specific needs or activities. Here are a few of the most recent examples of the realignment of the TBED community:
The National Governors Association (NGA) seeks a senior policy analyst with substantial expertise in technology-based economic development and the role state governments can play in promoting it.
For the second year in a row, Florida cities dominate the Milken Institute's top 200 largest U.S. metropolitan areas in the ability to create and sustain jobs. The top performer, Palm Bay-Melbourne-Titusville, moved up 31 places from last year and is followed by last year's top scorer, Cape Coral-Fort Myers, and Naples-Marco Island, respectively.
To further accommodate and cater to fledgling biotechnology, high-tech and start-up companies, the University of Pennsylvania Science Center in Philadelphia recently announced plans to add 1.85 million sq. ft. through the construction of six new buildings with retail and parking components.
On Friday, the National Science Foundation (NSF) released Science & Engineering Indicators 2006, an update for the nation's most significant, quantitative and neutral assessment of the health of the U.S. and international science and engineering communities.
With the title America Creating Opportunities to Meaningfully Promote Excellence in Technology, Education, and Science Act, it isn’t surprising that S. 761 had 69 cosponsors in the U.S. Senate. The bill’s passage last night by an 88-8 vote by the full chamber sends an even stronger signal that the vast majority of the Senate has heard the message regarding the need for the federal government to be more aggressive in its support for science and technology.
Like many states, Wisconsin has struggled to attract consistent attention from the national venture capital industry. Capital can be especially difficult to obtain in the state, since entrepreneurs with limited resources are often unable to participate in the expensive and complicated process of presenting their cases to venture capital firms based on the coasts.
The field of tech-based economic development has changed dramatically since the creation of SSTI in 1996 and continues to change almost daily. With these changes in mind, SSTI is releasing a new mission statement that better defines the organization's current direction.
SSTI's new mission is to lead, support, and strengthen efforts to improve state and regional economies through science, technology, and innovation.
The U.S. Department of Energy (DOE) announced this week it will invest up to $375 million over five years in three new Bioenergy Research Centers to be located in Oak Ridge, Tenn., and Madison, Wisc., and near Berkeley, Calif. The winning sites were selected through a competitive, peer-review process that began last year and included more than a dozen applicants from across the country.
The U.S. Department of Labor (DOL) recently named 13 more regions to receive grants through the third round of the Workforce Innovation in Regional Economic Development (WIRED) program. As with the previous round of awards (see the Jan. 22, 2007 issue of the Digest), the recipients will each receive $5 million over the course of three years to integrate workforce training initiatives into a regional technology-based economic development strategy.