Only 17 companies had initial public offerings (IPOs) in the first quarter of 2015, the lowest number since the beginning of 2013, according to data from Thomson Reuters and the National Venture Capital Association (NVCA). This is a significant drop from the 37 IPO exits in the first quarter of 2014. Mergers and acquisitions (M&A) were also down, with 86 exits, compared to 115 in Q1 2014. While 2014 was an unusually active time for venture-backed exits, the current data appears to be a return to recession-era levels of deals and disclosed values.
In order to build a prosperous, globally competitive economy in Louisiana, state universities must take on a greater role as hubs of regional innovation, according to a report from the Public Affairs Research (PAR) Council of Louisiana. The report includes 46 recommendations to transform the state's economy by revamping existing innovation programs, and boosting university research. PAR's strategic plan is based on a review of innovation policies in other states, particularly Georgia and the work of the Georgia Research Alliance.
Although the percentage of college graduates with science and engineering (S&E) or S&E-related majors has increased, the proportion of college graduates employed in an S&E occupation has remained relatively unchanged at 10 percent since 1993, according to a recently released InfoBrief from the National Science Foundation’s National Center for Engineering Statistics.
The Small Business Administration (SBA) announced that it will commit $4 million to the second round of the Growth Accelerator Fund Competition. Launched in 2014, the competition makes awards of $50,000 each to help fund operating budgets for accelerators and other entrepreneurial ecosystem models in parts of the country where there are fewer conventional sources of access to capital (e.g., venture capital and angel capital investors). For this round of funding, applications are encouraged from manufacturing accelerator models. Applications are due June 1.
Working groups at The Association of Public and Land-grant Universities (APLU) and The Association of American Universities (AAU), two membership organizations of higher education institutions, have released statements on the role of universities in managing intellectual property and technology transfer alongside their core missions and interest in maximizing public benefit.
Europe is catching up to the United States in areas such as idea creation and risk capital but lacks the means to retain its talent, according to a recent report from authors at the Imperial College Business School in London.
U.S. Secretary of Commerce Penny Pritzker announced the first 26 recipients of the 2014 Regional Innovation Strategies program grants. Managed by the Economic Development Administration, the Regional Innovation Strategies (RIS) program is designed to advance innovation and capacity-building activities in regions across the country through three different types of grants:
Last week, the Securities and Exchange Commission adopted final rules to update and expand Regulation A, an existing exemption from registration for smaller issuers of securities. The new Regulation A+ will enable smaller companies to offer and sell up to $50 million of securities in a 12-month period, subject to eligibility, disclosure and reporting requirements. Under Regulation A+, there are two tiers of offerings that companies may make that include:
Because of recent changes in the methodologies used by the U.S. Bureau of Economic Analysis (BEA), research and development is now recognized as investment in statistics on U.S. gross domestic product (GDP). As a result, from 1929 to 2012, the average annual growth rate of GDP is 0.1 percentage point higher than in the previously published estimates.
The National Science Foundation (NSF) has release a solicitation (NSF 15-562) seeking public and private partners for four new Big Data Regional Innovation Hubs. The hubs would build on the Obama administration's National Big Data Research and Development Initiative by creating a nationwide network of local stakeholders invested in overcoming technology barriers to large-scale data processing and interpretation.
Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review actions in Arkansas, Mississippi and New York.
President Obama announced over $240M in new multi-sector commitments dedicated to STEM education and outreach, with an emphasis on underserved groups, at the 2015 White House Science Fair on Monday. With the new investments, the president’s “Education to Innovate” campaign, launched in November 2009, has now resulted in more than $1 billion in financial and in-kind support for STEM initiatives.
Over the past few months, SSTI has followed proposals issued by governors in their budget requests, State of the State Addresses, Inaugural Speeches and other events. Now that many state legislatures have begun approving budgets, the Digest will check on the status of these proposals, and examine the state of technology-based economic development funding in the states. This week, we review budgets in Arizona, New Mexico, South Dakota, Utah, West Virginia and Wyoming
Earlier this year, the University of Washington (UW) relaunched its technology commercialization office as CoMotion, an entrepreneurial hub and makerspace. In doing so, UW joined a growing number of universities that have opened up their technology transfer operations to approaches inspired by the tech startup scene. The transformations of the University of Pennsylvania, Wake Forest, Tufts University and UCLA recently were profiled in Nature Biotechnology.
In the recently released 50 State Project, CQ Roll Call provides an overview of the 45,564 bills and resolutions that were passed by state legislatures between the 2013 and 2014 legislative sessions. The report found the top issues covered by state legislatures during the timeframe were state budgets, education (including STEM and higher education), taxes, and transportation. Other important issues included job creation and energy-related issues.
The National Science Foundation (NSF) unveiled a framework to increase public access to scientific publications and digital scientific data funded by NSF grants. The plan, entitled Today’s Data, Tomorrow’s Discoveries, will require that NSF-funded research presented in peer-reviewed scholarly journals and papers in juried conference proceedings or transactions be deposited in a database within one year of publication for the public to download, read, and analyze.
Late last week, Rhode Island Gov. Gina Raimondo’s released her proposed $8.6 billion FY2016 budget proposal. The budget focuses on three guiding principles: building skills, attracting entrepreneurs and investment, and fostering innovation.
Massachusetts is disproportionately affected by federal immigration policy, according to a recent report from the Mass Technology Leadership Council (MassTLC) – Growing 100K Tech Jobs: Trends, Insights, and Opportunities within the 2020 Challenge. The authors contend that the state’s universities and colleges educate a significant number of highly skilled immigrants from around the world in tech fields only to see them leave after graduation.
SBIR projects are less likely to fail if research teams are smaller, have more experience and include women investigators, according to a new working paper by Albert N. Link and Mike Wright. The authors also found that larger SBIR awards lower the chances that a project will be discontinued before completion. While the study focuses on projects supported through federal SBIR programs, the findings could have implications for other kinds of public R&D support.
The White House announced plans to host its first ever Demo Day, a new initiative to empower a variety of entrepreneurs from around the country to launch and scale innovative companies. Unlike a private-sector demo day, where investors watch and react to the pitches of entrepreneurs, the White House Demo Day, to be held this summer, will highlight success stories from entrepreneurs across the country, with an emphasis on best practices for inclusive entrepreneurship.
The National Institute of Standards and Technology’s Hollings Manufacturing Extension Partnership (MEP) issued a Federal Funding Opportunity for nonprofit organizations to operate state MEP centers in 12 states – Alaska, Idaho, Illinois, Minnesota, New Jersey, New York, Ohio, Oklahoma, Utah, Washington, West Virginia and Wisconsin. The objective of the MEP Center program is to provide business and technical services to small- and medium-sized manufacturers within the state of operation.
This week, the White House released details on its ninth planned institute within the National Network for Manufacturing Innovation. The Department of Defense will award $75 million for a new manufacturing hub focused on Revolutionary Fibers and Textiles. Regional manufacturers, universities and nonprofits will soon be invited to compete for the funds, which require a 1:1 cost share. The institute will be the sixth funded through the Defense Department. Three others have received support through the Department of Energy.
In partnership with several major pharmaceutical companies, the United Kingdom’s (UK) Secretary of Health Jeremy Hunt announced the creation of the $100 million Dementia Discovery Fund. The UK government-led venture fund will support innovative research across the globe to help find new ways to prevent and treat dementia and Alzheimer’s disease. Private sector partners that already have agreed to invest in the project include Biogen, GlaxoSmithKline, Johnson & Johnson, Lilly and Pfizer.
One hundred Twenty-five impact investors worldwide reported plans to increase impact investing commitments by 19 percent in 2014, from 10.6 billion in 2013 to 12.7 billion in 2014, according to a J.P. Morgan-Global Impact Investing Network (GIIN) info brief – Impactbase Snapshot: An Analysis of 300+ Impact Investing Funds. The report provides an overview of over 300 funds operating across three key themes: geographic focus, asset class type, and target impact theme.