The National Science Foundation (NSF) announced that it would commit up to $12.5 million in pilot grants to test novel ways of broadening participation in science, technology, engineering, and mathematics (STEM).
Angel investors are an essential component of the global economy, supporting ideas and innovators at their very earliest stages. In 2014, more than 200,000 American angels invested about $24 billion in 73,000 startups, according to the Angel Capital Association (ACA). Little data, however, exists on who these investors are and how they make their decisions. ACA, Wharton Entrepreneurship and the John Huston Fund for Angel Professionalism at Rev1 Ventures are launching a nationwide survey of angel investors to learn more.
Florida Higher Education – Is the Cheapest Fiscally Sound? provides evidence for the connection between state funding for universities and productivity. Florida Research Consortium and Florida Chamber Foundation combine a variety of data to advance three connections: 1) state funding for universities is exponentially related to total funding for universities; 2) total funding for universities is related to research quality; and 3) research quality is related to productivity within Metropolitan Statistical Areas.
Several recent studies have identified the roadblocks that females face in Science, Technology, Engineering and Mathematics (STEM) fields. These two roadblocks include gender bias in the classroom and too few mentors in K-16 STEM fields. In an attempt to increase opportunities for females in STEM education, both federal and foundation funders have announced programs that will increase scholarship and internship opportunities for young women in STEM fields.
To celebrate the one year anniversary of the TechHire Initiative, the Obama administration announced an expansion of the program with the addition of 15 new communities. The administration also announced activities and commitments to help support career and technical education.
Virginia Gov. Terry McAuliffe announced the creation of a pay-for-performance workforce training program that will help Virginia workers acquire the industry certifications and occupational licenses that meet the needs of key businesses in each region of the state.
The U.S. Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy (EERE) recently released the first round of 33 awardees from the Small Business Vouchers Pilot program. A total of $6.7 million will be awarded in the form of vouchers for assistance from DOE national laboratories of up to $300,000 a piece. Small cleantech businesses may be able to apply in nine technical categories. A second round of awards also has been announced, with a third to follow later in the year.
The Indiana Biosciences Research Institute (IBRI), first unveiled in May 2013, is a statewide public-private partnership advanced by BioCrossroads that considers itself the first industry-led collaborative life sciences research institute in the country.
Earlier this week, President Obama released his final budget proposal, outlining $4.1 trillion in spending for federal agencies. Each year, SSTI reviews the president’s federal budget request for programs and spending related to entrepreneurship, regional innovation, economic development, manufacturing, research and development, technology commercialization, and STEM education and workforce training.
Over the last month, several universities have announced new initiatives that look to spur investments in university-related startups to support economic growth and prosperity within their region or state. These include efforts in Triangle Venture Alliance in North Carolina, Purdue Ventures in Indiana, and a partnership between Oregon State University and a local investment fund.
North Carolina
Over the last few months, a number of universities across the country have launched pre-accelerator programs – a new trend that has emerged in university-led efforts to support entrepreneurial growth among faculty and students. This week, the Digest examines this growing trend and attempts to provide insight into two important questions about pre-accelerators:
New National Science Foundation data indicates that the federal government’s support for national laboratories and research centers has continued to decline in constant dollars after peaking with the 2011 infusion of American Recovery and Reinvestment Act (ARRA) funding. Six federally funded research and development centers (FFRDC’s) comprise about one-half of all FFRDC spending: NASA’s Jet Propulsion Lab (JPL) and five Department of Energy national labs.
When factoring in the broader manufactured goods value chain – including activities such as research and development, corporate management, logistics operations, and advertising and branding – manufacturing’s footprint on the American economy is much larger than what is measured in most analyses, according to a new report from the Manufacturers Alliance for Productivity and Innovation (MAPI). In their report, The Manufacturing Value Chain Is Much Bigger Than Yo
Over the years, the SSTI Digest has covered every aspect of the innovation economy, touching on entrepreneurship, high-tech research, STEM education, economic trends, global competitiveness, federal, state and local policy, and much more. We have striven to achieve a balance between news and analysis, bringing our readers everything they need to understand the evolving state of tech-based economic development.
To celebrate our second decade, SSTI has assembled some of the most important articles of our past 20 years.
On March 1, 1996, the first edition of the SSTI Digest was sent to a select group of fewer than 60 state tech-based economic development leaders. The original subscribers received the Digest via fax every Friday because Sprint offered unlimited, free calls and faxes each Friday. Since these early days, the Digest has grown to thousands of subscribers from across the country as well as hundreds of subscribers from several countries.
Governors around the country continue to lay out priorities for the next legislative session. In the coming weeks, SSTI will review gubernatorial addresses and budget proposals related to economic development. This week, we highlight developments in Illinois, Michigan and New Jersey.
The Department of Energy (DOE) has published a formal response to the final report of the Commission to Review the Effectiveness of the National Energy Laboratories (CRENEL).
The National Institute of Standards and Technology (NIST) released a new Federal Funding Announcement (FFA) to award its first national manufacturing innovation institute (NMII). Proposers may solicit a new NMII on any advanced manufacturing technology focus area not already addressed by another institute or competition.
A bipartisan group of 17 governors signed the Governors’ Accord for a New Energy Future – a joint commitment to support the deployment of renewable, cleaner and more efficient energy technologies and other solutions to make the U.S. economy more productive and resilient as well as spur job creation in member states.
While the Department of Commerce’s (DOC) Economic Development Administration (EDA) continues to take steps to implement the Federal Loan Guarantees for Innovative Technologies in Manufacturing (ITM) program, additional steps remain before they can issue loan guarantees according to a new report from the United States Government Accountability Office (GAO).
Immigrants play a significant role in American innovation, while women and minorities are underrepresented, according to a new report from the Information Technology and Innovation Foundation (ITIF).
More than three-quarters of U.S. venture capital dollars went to companies in California, New York and Massachusetts in 2015, according to data from the PricewaterhouseCoopers (PwC)/National Venture Capital Association (NVCA) Moneytree Report. California companies received over 57 percent of all U.S. investment, about 0.5 percent down from the state’s peak in 2014. Both New York and Massachusetts received about 10 percent of U.S. dollars. Washington, the state with the fourth highest share, trailed far behind at 2.1 percent.
SSTI’s analysis of gubernatorial addresses, strategic plans and budget proposals continues this week with highlights from Alabama, Louisiana, Oklahoma, Pennsylvania and Tennessee. Governors are facing difficult fiscal situations in several of these states, often scaling back tech-based economic development efforts. Tennessee Gov. Bill Haslam, however, is using a fiscal surplus to invest in higher education and regionally focused economic initiatives.
Alabama
State economic development policies that focus on deep income tax cuts or tax breaks to lure companies from other states ignore fundamental data points about job creation, and as a result are more likely to fail, according to a recently released report from the Center on Budget and Policy Priorities. While alluding to the importance of encouraging entrepreneurship and firm survival more broadly, the authors also argue that public investments should be targeted at helping build a skilled workforce and improve the
Despite a small decrease in venture capital deals last year, the San Francisco-Oakland-Fremont metropolitan area remains the most active investment regions on a per capita basis, according to data from the PricewaterhouseCoopers (PwC)/National Venture Capital Association (NVCA) MoneyTree Report. San Francisco led all other MSAs in both total dollars and per capita activity, with its $21 billion in 2015 investment averaging about $4,500 per metro resident.