In separate announcements this week, the Department of Defense Office of Economic Adjustment (OEA) and the Economic Development Administration (EDA) revealed funding opportunities that can assist efforts to transform American innovations and support the growth of new companies.
Department of Defense
State innovations in the development and implementation of clean energy programs have received national attention with the announcement of the 2020 State Leadership in Clean Energy Award winners. Presented by the Clean Energy State Alliance (CESA), the awards recognize state and municipal programs’ accomplishments in the clean energy field.
The National Academies of Sciences, Engineering, and Medicine recently released its report on the state of the U.S. National Nanotechnology Initiative (NNI) — authorized by the 21st Century Nanotechnology Research and Development Act of 2003 to coordinate the nanotech-related R&D activities of 26 federal agencies — finding that although the U.S. has maintained a strong program it is increasingly challenged by international competitors.
The National Academies of Sciences, Engineering, and Medicine recently released its report on the state of the U.S. National Nanotechnology Initiative (NNI) — authorized by the 21st Century Nanotechnology Research and Development Act of 2003 to coordinate the nanotech-related R&D activities of 26 federal agencies — finding that although the U.S. has maintained a strong program it is increasingly challenged by international competitors. Specifically, the report names China as the primary contender for the U.S.’ spot at the top and attributes its success to strong Chinese leadership and commitment to substantial investment in the field. Looking toward the future, the authors reevaluated the NNI’s stated goals, identified three priorities to ensure the NNI vision can be carried out moving forward, and conclude with five key recommendations needed to meet these priorities and carry out the NNI vision.
The Massachusetts Technology Collaborative (MassTech) — the state agency responsible for strengthening the commonwealth’s position as a leading hub for innovation and entrepreneurship — recently released the 2019 edition of its annual report, The Index of the Massachusetts Innovation Economy, which includes an updated list of the 10 leading technology states and a detailed special analysis on entrepreneurial ecosystems. As a globally recognized center of science- and technology-based innovation, communities across the U.S.
The Massachusetts Technology Collaborative (MassTech) — the state agency responsible for strengthening the commonwealth’s position as a leading hub for innovation and entrepreneurship — recently released the 2019 edition of its annual report, The Index of the Massachusetts Innovation Economy, which includes an updated list of the 10 leading technology states and a detailed special analysis on entrepreneurial ecosystems. As a globally recognized center of science- and technology-based innovation, communities across the U.S. can learn from Massachusetts’ successes as well as from the challenges the state faces in further strengthening its entrepreneurship ecosystem.
The NIH’s High-Risk, High-Reward Research program (HRHR) has the potential to overturn fundamental paradigms, but historically the applicant and awardee pools have not fully represented the demographic and geographic diversity across the U.S. biomedical workforce, says the NIH’s deputy director for extramural research.
With efforts underway to return people to jobs, the time is ripe to rethink our approach to the workforce. Instead of returning to the way things were, now is the time to re-think the kind of country we want to have says Carl Van Horn, founding director of the Heldrich Center for Workforce Development at Rutgers University. Van Horn and Jane Oates, president of WorkingNation, presented their ideas for workforce recovery and lessons learned from the Great Recession during a Federal Reserve Bank of Atlanta Center of Workforce Development webinar yesterday.
The Small Business Administration (SBA) recently rolled out a new website for the SBIR/STTR program which SBA administers. Reorganized and including new landing pages for entrepreneurs, support organizations, and federal agencies, the new page provides quicker and easier access to the right information.
The pandemic’s negative impact on enrollment at institutions of higher education is getting even more complicated. New figures show that the number of students that have completed the Free Application for Federal Student Aid (FAFSA), a figure that serves as an indicator for postsecondary enrollment, has decreased.
The House and Senate have both passed a bill that would alter the SBA’s Paycheck Protection Program. Businesses will now have up to 24 weeks to use forgivable funds, instead of the original eight weeks. The portion of the costs that must be spent on payroll has been reduced from 75 percent to 60 percent. The bill also changes many of the original legislation’s hard deadlines from the end of June to Dec. 31.
A trio of recent reports reflect the pernicious effects the pandemic is having on small businesses. Last month, a survey from the Society for Human Resource Management (SHRM) found that 52 percent of small businesses expected to be out of business within six months. SHRM President and CEO Johnny C.
A new report from the Congressional Budget Office (CBO) indicates that the U.S.
A new report from the Congressional Budget Office (CBO) indicates that the U.S. economy through 2030 will have $8 trillion (as measured in 2019 dollars) less in economic activity than the CBO projected just five months ago. Combined with SSTI’s recent examination of economic recovery that found it took 20 states at least four years for their economy to recover back to Great Recession levels, the impact on state budgets can be expected to be long lasting. In fact, a new examination by SSTI finds that through FY 2018, 15 states’ general revenue funds had not recovered to FY 2008 levels (as measured in 2018 dollars) based on data collected by the National Association of State Budget Officers (NASBO). For an additional 16 states, it took seven to 10 years to reach FY 2008 levels.
SBA began offering a second round of the Paycheck Protection Program (PPP) on April 27, and SBA’s data indicate this round is better distributed across businesses and the states than the first. As of May 8, round two has approved $189 billion across nearly 2.6 million loans, 55 percent more than in all of round one. The average loan size in round two is $73,488, which is a significant drop from the first round’s average of $206,022.
A recent economic-impact study by Summit Consulting and the W.E. Upjohn Institute for Employment Research analyzed the overall effect of projects undertaken by the Manufacturing Extension Partnership (MEP) on the U.S.
A recent economic-impact study by Summit Consulting and the W.E. Upjohn Institute for Employment Research analyzed the overall effect of projects undertaken by the Manufacturing Extension Partnership (MEP) on the U.S. economy in FY 2019 and found that the investment of federal dollars into the MEP Centers yields, in the most conservative model, a return on investment of 13.4:1 (from the $140 million federal investment). The study also found that total employment in the U.S. was nearly 217,000 higher because of MEP Center projects.
While few will be able to escape the resulting hardships of the current economic downturn, America’s most economically vulnerable communities — those where household finances were already unstable and work scarce — will be hit hardest by the recession currently underway.
School buses across the country are helping school children as they finish a decidedly unconventional academic year but they aren’t transporting students, they are acting as mobile Wi-Fi units bringing connectivity capability to students who lack broadband service. As the coronavirus pandemic closed schools across the country, many in rural or low-income areas without internet access were left scrambling as classes went online. Equipping buses with Wi-Fi to help accommodate the online learning is a short-term solution to a much bigger problem.
The U.S. Cluster Mapping Portal has received a data refresh with updated cluster profiles and performance benchmarks for all U.S. regions. This free tool is useful for understanding regional composition of traded sectors and strengths, which could be especially beneficial in these challenging times as businesses attempt to restore their supply chains. The U.S.
The U.S. Cluster Mapping Portal has received a data refresh with updated cluster profiles and performance benchmarks for all U.S. regions. This free tool is useful for understanding regional composition of traded sectors and strengths, which could be especially beneficial in these challenging times as businesses attempt to restore their supply chains.
New projections from the Congressional Budget Office (CBO) of key economic variables reveal an expected sharp contraction in the economy in the second quarter with the unemployment rate projected to average 15 percent during the second and third quarters of 2020 and remaining as high as 9.5 percent by the end of 2021. CBO projects GDP will decline by about 12 percent during the second quarter.
In Pennsylvania, the Department of Community and Economic Development (DCED) announced last week that new funding is available to help technology-based companies impacted by COVID-19.
As the economic fallout continues from the coronavirus pandemic and associated shutdown, states are still uncertain as to what their financial situations might be as they attempt to craft their new spending plans for a quickly approaching new fiscal year, which for most states start July 1. Last month, New Jersey state leaders took a unique approach to the situation by extending the current fiscal year from June 30 to September 30. The extension addresses a number of issues.
In this week’s edition of Useful Stats, we take a look at NIH’s SBIR/STTR program by state, including the success rate of applications, the share SBIR awards make up of NIH funding to for-profit companies by state, and the total number of awards by state. It should be noted that SSTI was able to prepare this information because of the excellent transparency of information that NIH offers on its website, a model that should be replicated by other federal agencies.
Last week, the U.S. Department of the Treasury published new guidance for how state and local governments can use the $150 billion in relief funds provided by the CARES Act. The guidance provides some flexibility to recipients to address “second-order effects” of the COVID-19 pandemic.
The most recently-passed federal legislation to address COVID-19 included funding for the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA) to accelerate testing. The provision, added by Sens.
The U.S. Securities and Exchange Commission is implementing a rule that relaxes restrictions on crowdfunding through next February, according to a Federal Register notice published today. The net result of the temporary rule is to accelerate the timeline for a company to access capital through crowdfunding, at the expense of some public access and investor information.
In early March, we shared that organizations who use a web address ending in .ORG should be aware that a management change could result in registration fees for domain names doubling.
As college students close out highly disrupted spring semesters, higher education institutions across the country are trying to determine what the fall semester will entail, which has proven to be tricky at best. On campus or online instruction, hybrid plans and increased protections for students’ wellbeing are all topics administrators are grappling with in the midst of the pandemic. Meanwhile, prospective students are up in the air regarding their plans, as well, with a recent report revealing that domestic undergraduate enrollment for four-year institutions could decline 20 percent.