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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.

 

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:

A little money has gone a long way, when you consider the initial size of venture capital investments each year, the $2.1 trillion in revenues captured in 2005, and the nearly 23,000 venture-backed companies that have received investments. In fact, 16.6 percent of the 2005 U.S. gross domestic product (GDP) was directly attributable to the $2.1 trillion in revenues received by venture-backed U.S. companies, while the $23 billion of VC invested in 2005 only equaled 0.2 percent of GDP.

 

As renewable energy and environmental technologies emerge as some of the promising industries for high-tech economic development, more cities are seeking new ways to boost clean technology research and businesses. Austin, San Jose, Berkeley, Pasadena and Boston have been singled out for their efforts to promote cleantech industries by SustainLane Government, a nonprofit Internet-based organization that provides current practices and news about municipal sustainability.

Browsing the business section of a bookstore may yield dozens of titles purporting to explain the process of innovation. This newsletter and most others serving the nation’s policymakers and science and technology communities have covered reports calling for a national innovation strategy. Unfortunately, most meetings on the subject have to begin by developing a working definition of the term innovation that most can accept.

Information technology (IT) permeates almost all aspects of the economy and is what really drives economic growth, according to a report released this month by the Information Technology and Innovation Foundation (ITIF). The report’s authors, Robert Atkinson and Andrew McKay, believe the diffusion of information technology increases worker productivity 3-5 times more than non-IT capital.

The federal government distributed $23.8 billion in R&D obligations to universities and colleges in fiscal year 2004 — a 4.4 percent increase from the FY 2003 total of $22.8 billion, according to new National Science Foundation (NSF) data. In its report, Federal Science and Engineering Support to Universities, Colleges, and Nonprofit Institutions: Fiscal Year 2004, NSF details all categories of direct federal science and engineering support to institutions of higher education in the U.S.

 

Eric Cromwell announced he is resigning as director of technology development for the State of Tennessee.



Frank Dinucci announced he will step down in April 2007 as president of Connecticut Innovations.

Eric Cromwell announced he is resigning as director of technology development for the State of Tennessee.