Angel investors are reducing the average size of their investments, according to the latest report from the University of New Hampshire Center for Venture Research. In the first half of this year, total angel investment dollars fell by 27 percent from the same period in 2008, but the number of angel deals increased by six percent. As a result, the average deal size has fallen by 31 percent since early 2008.
Being located within an incubator can provide tech startups help beyond low-rent space. Networking opportunities and direct counseling and technical assistance can play important roles toward the firms' success. Or do they? A recent study published in the journal Technovation finds the interactions incubator managers have with their tenant firms may not be as helpful as the metrics would suggest.
The University of Texas at Austin recently announced the formation of a university-wide initative to support technology commercialization, entrepreneurship and innovation. Venture Labs Texas will assist new ventures at the university and broker deals with sources of capital, including venture funds, angel investors and Texas' Emerging Technology Fund. Read more about Venture Labs at the University of Texas at Austin at: http://texasventurelabs.net/
A recent Federal Communications Commission (FCC) survey found that 78 percent of U.S. adults are regular Internet users, but only 65 percent use broadband connections at home. Affordability, lack of knowledge of computers and the Internet and lack of interest were cited as reasons by those who said that they do not use home high-speed Internet. The results will be used by the FCC in crafting a strategy to increase broadband adoption rates and improve the cost and quality of high-speed services.
Recognizing Ohio's metropolitan regions as key to the state's future prosperity, a new report outlines 39 policy recommendations aimed at growing Ohio's economy and transforming old strengths, such as manufacturing, into new products and opportunities aligned with federal goals. The report foresees Ohio as an export-oriented, lower carbon, innovation-led economy capable of building on assets of its metropolitan regions such as innovation, human capital, infrastructure, and quality places.
Last week, many states, universities and groups in the U.S. observed the fourth annual National Entrepreneurship Week. The Consortium for Entrepreneurship Education sponsored activities around the country and Canada, including educational events, competitions and entrepreneurship summits.
Arizona State University invites applications for the position of director, High Performance Computing Initiative (HPCI). Some of the responsibilities include leadership and management of the HPCI, developing the HPCI mission and strategy, growth of the HPCI computing systems and infrastructure, building a strong technical staff to support researchers, and training in HPC for graduate and undergraduate students.
Karina Edmonds will join the Department of Energy as its new technology transfer coordinator starting in April. This is the first time that the Department has appointed a full-time person to fill this role.
Cathy McGonigle has been named executive vice president of the Flinn Foundation. Previously, she held management positions for the city of Chandler, Arizona Department of Revenue and Arizona Department of Administration.
A bill recently introduced in the U.S. Senate would allow immigrant entrepreneurs to obtain a two-year visa if they have secured the support of a qualified U.S. investor. Supporters, including bill sponsors Senators John Kerry and Richard Lugar, argue that the measure would help ensure American competitiveness by drawing on global entrepreneurial talent. The bill would also help create new investment opportunities for U.S. venture capitalists.
Minister of Finance Jim Flaherty last week presented a budget plan for the upcoming year that includes $19 billion in new federal stimulus funds as part of Canada's two-year, $62 billion Economic Action Plan.
The Obama administration recently released a national plan to secure public and private sector networks. The Comprehensive National Cybersecuirty Initiative consists of 12 priority areas, including improved coordination of cybersecurity research, commercialization assistance for strategic technologies and expanded cyber education. Read the complete strategic plan at: http://www.whitehouse.gov/cybersecurity/comprehensive-national-cybersecurity-initiative
MIT's Department of Urban Studies and Planning is researching how economic development organizations are working with small businesses to address market opportunities or needs related to global climate change and the "green economy." The department currently is looking for economic development organizations to complete a brief, voluntary survey (10 minutes) relating to "green" programs and activities. Results will be shared with the economic development community and be made publicly available.
Silicon Valley, a region often looked to for trends in the technology field, is expected to see a rise in the number of new high-tech incubators and the expansion of existing incubators in the coming months. A recent Wall Street Journal article points to these openings as a sign of revival for technology startup companies amid a relatively slow period last year as startup investment plunged during the recession.
Chris Atkinson is the new director of West Virginia University's Center for Alternative Fuels, Engines, and Emissions (CAFEE).
On Monday, the Federal Communications Commission (FCC) released a national plan to expand broadband access and competition over the next decade. The plan calls for the establishment of new competition policies, ensuring the efficient allocation of spectrum and physical infrastructure, incentives and subsidies to expand access, and support for state and local initiatives. It also sets the ambitious goal of providing 100 million U.S. homes with affordable access to download speeds of 100 megabits per second (mbps), up from the current average of 2-3 mbps.
At the close of the Utah legislative session on March 11, lawmakers followed Gov. Gary Herbert's recommendation to reduce the Utah Science Technology and Research initiative (USTAR) FY10 budget by $5.1 million, from $31.9 million to $26.8 million. For FY11, USTAR is budgeted to spend $34.3 million. This represents a combination of state and ARRA funding. USTAR invests in world-class innovation teams and research facilities at the University of Utah and Utah State University with a long-term goal of strengthening the state's knowledge economy.
Gov. Pat Quinn unveiled last week the FY11 capital budget outlining the state's progress on the $31 billion Illinois Jobs Now plan enacted last year by the legislature (see the July 29, 2009 Digest). The governor is seeking an expansion of the program, which includes new appropriations for green economy initiatives within the Department of Commerce and Economic Opportunity (DCEO).
Adding to a growing number of states seeking to increase their percentage of power from renewable sources, Gov. Jack Markell last week introduced the Delaware Clean Energy Jobs Act. A key component of the legislation is increasing the state's Renewable Portfolio Standard (RPS), which governors often say generates job growth.
The overarching goal of the Delaware bill is to create a competitive climate for the clean energy market, which is addressed under four main goals, including:
North Carolina State Treasurer Janet Cowell has announced credit services group Credit Suisse will serve as manager of the state's new $230 million innovation fund. The fund, drawn from public pension dollars, will invest in North Carolina-based technology businesses over the next five years. Though full investment guidelines have not yet been developed, investments will be aimed towards high-growth industries, including life sciences, clean energy and other high-tech industries.
Arizona Center for Innovation is currently seeking an experienced candidate to fill the position of director. The director is responsible for the daily operations of the incubator that include: administration, budgeting, financial management, fundraising, client recruitment and services, marketing and outreach activities.
The $29.3 billion total spending plan for FY11 outlined last week by Gov. Chris Christie eliminates or significantly reduces funding for business incentive programs, including InvestNJ and funding for high-tech business tax credits. In place of the programs, the New Jersey Partnership for Action would be established as a new one-stop-shop to assist businesses in relocation, retention and incentive development.
Gov. Chet Culver last week signed legislation creating the Iowa Innovation Council to advise the state's Department of Economic Development on policies that enhance innovation and entrepreneurship in high-growth industries such as advanced manufacturing, bioscience, and information technology. The council will be led by a group of volunteer private business leaders with expertise in the targeted industry sectors and charged with creating a strategic plan for implementing specific policies and coordinating state government applications for federal funds related to R&D.
The Governors' Wind Energy Coalition, a group of 29 U.S. governors, recently released a list of recommendations for Congressional action to spur the development of the wind energy industry. Recommendations include a renewable electricity standard, funding for an interstate electric transmission system and an expansion of the Department of Energy's support for state programs. The group notes that these goals line up closely with the American Clean Energy and Security Act of 2009, which passed in the House of Representatives last year and is now under review in the Senate.
A group of inventors, academics and researchers presented an aspirational list of inventors' rights at the Association of University Technology Managers (AUTM) Annual Meeting held last week. The Academic Inventors' Bill of Rights includes protections for researchers and students to prevent onerous university intellectual property policies and lack of transparency from preventing successful commercialization. The full document will be available later this week at: http://www.ipadvocate.org/
SSTI, a growing nonprofit organization serving the nation's tech-based economic development (TBED) community, seeks an entry-level policy analyst to research and prepare reports, articles and papers on TBED and assist with SSTI events. Excellent research abilities, strong writing and verbal skills and solid understanding of government are required. Candidates must have the ability to work independently or as part of a committed team and be dedicated to creating a quality product.