Pennsylvania's Tobacco Settlement Investment Board (TSIB) recently approved a commitment of up to $20 million to Birchmere Ventures III LP to invest in life sciences companies based in Pennsylvania. Birchmere Ventures III, a new fund jointly formed by Pittsburgh-based Birchmere Ventures and San Francisco-based Bay City Capital, will raise up to $150 million.
Virginia's Center for Innovative Technology (CIT) announced on Monday a new investment initiative to help close the capital gap for the state's early-stage technology businesses. CIT, a state-chartered nonprofit corporation, will launch the Growth Acceleration Program (GAP) on Dec. 15, 2003, to address the funding void created by a recent shortfall of angel capital.
To expand on the state's Centers of Innovation strategy, Gov. Sonny Perdue announced in November the creation of the Middle Georgia Aerospace Innovation Center (MAIC). The center is comprised of numerous partners, including the Georgia Department of Industry, Trade & Tourism's Office of Science and Technology, the University System of Georgia, private institutions and companies, and the Warner Robins Air Logistics Center (ALC).
With $90 million already secured in state and private support, a 400-acre automotive research campus to be developed by Clemson University promises to make South Carolina a hub of the nation's automotive and motorsports industry.
Steve Bryant has been named the project director for the Bloomington Life Sciences Partnership in Indiana.
Patrick Rea recently was selected as administrator for the Small Business Administration's six-state region involving Indiana, Illinois, Michigan, Minnesota, Ohio and Wisconsin.
Steve Bryant has been named the project director for the Bloomington Life Sciences Partnership in Indiana.
Patrick Rea recently was selected as administrator for the Small Business Administration's six-state region involving Indiana, Illinois, Michigan, Minnesota, Ohio and Wisconsin.
The Idaho Economic Development Association has named Jan Rogers as new president.
The Grand Forks Region Economic Development Corp. has named Klaus Thiessen as its new president.
The Association of American Universities has selected Patrick White as the new director of federal relations.
Much of the U.S. policy debate regarding the impact of globalization has focused on workforce preparedness and the need for American industry to sustain innovation. Bills before Congress urge increased spending on R&D, especially in the physical sciences and engineering. Much of the data that has helped fuel the competitiveness discussion has focused on indices and statistical reports presenting the U.S. in comparison to other nations.
Marketing tech-based economic development (TBED) programs can be challenging, particularly with the diverse nature of its target audiences of entrepreneurs, existing companies, financial sources, university researchers and, oftentimes, legislators. Sometimes, even the name of the program can cause misconceptions, particularly when a new initiative is outside the traditional services or roles offered by the TBED organization. A recent example of this comes from South Carolina.
Summer classes, camps and special programs to stimulate and sustain K-12 students' interests in science and math will be found all across the country during the next few months. A less frequently occurring phenomenon will be taking place in the Great Lakes Region of Iowa, helping a select group of college students to combine entrepreneurship, rural economic development, and recreation.
The U.S. automotive industry is one of the nation's oldest modern manufacturing sectors, and, similar to many other older populations, is increasingly making its home in the South. Despite this fact, the sector remains heavily centered in the Midwest, according to a new article from the Federal Reserve Bank of Chicago. The Geographic Evolution of the U.S. Auto Industry reveals 47 percent of the nation's motor vehicle employment still resides in three states: Michigan, Indiana and Ohio.
The National Science Foundation (NSF) has published its online statistical resource center for state-level statistics on various science and engineering (S&E) indicators. Drawing data from the most recent updates to seven annual NSF surveys and U.S. Census statistics, the profiles includes downloadable Excel or PDF versions of state statistics for:
Although technology sector employment is down slightly from previous years, Washington firms received twice the aggregate amount of venture capital (VC) funding compared to last year, and the state remains above the national average in educational attainment, according to the sixth annual Washington State Index of Innovation and Technology.
Republican members of the House Committee on Science introduced last week three bills designed to strengthen U.S. economic competitiveness by improving math and science education and research.
High speed Internet access, global positioning systems and other information and communication technologies have revolutionized urban and regional economic development, both planning and practice. Communities willing and able to make the appropriate investment decisions regarding information improve their abilities to compete.
Perhaps in no field more than biotechnology are the roles of alliances, mergers and acquisitions, and licensing so influential in determining the future success of a start-up firm. Pharmaceuticals are perhaps the best example of this. There aren't hundreds of big pharma companies around the world; there are perhaps a dozen, and, thanks to television advertising for meds, most are practically household names. To make it as a young biopharma business, most plan to be licensed up or bought out.
[Publisher's note: In last week's Digest, we prepared a table showing what I thought was per capita federal R&D spending by state for 2003. Some readers who are more astute than I questioned the data, and in reviewing how I used the NSF data, I discovered that I had done so incorrectly. My apologies to all for this error. We have removed the incorrect table from our website.
New figures on the proportion of foreign-born workers in science and technology occupations suggest the federal government must "act now" to meet future needs in science, engineering and technology fields, a new National Science Board (NSB) report argues. A sampling from 2000 census figures indicates a larger than previously known percentage of degree-holding, foreign-born professionals working in the U.S.
DOE Releases 20-Year Strategic Plan
Last week, U.S. Department of Energy (DOE) Secretary Spencer Abraham outlined the Office of Science's 20-year science facility plan, a roadmap or "wish list" for future scientific facilities to support the department’s basic science and research missions. The plan prioritizes new, major scientific facilities and upgrades to current facilities.
The National Institutes of Health (NIH) recently released a table presenting the top 100 cities for NIH awards in FY 2002. Boston and New York City are the only two cities to receive more than $1 billion in NIH funding. Boston’s lead shrank from $140 million in FY 2001 to $14 million in 2002.
The Modernization Forum reported on Thursday that Congressional appropriators have agreed to gut the Manufacturing Extension Partnership (MEP), the main federal program serving America’s small manufacturers. The move came Wednesday night, despite the pleas of more than 300 members of Congress who supported $110 million in letters to the CJS Subcommittee. The U.S. has lost 2.5 million manufacturing jobs since the beginning of 2001.
Despite more than a year of economic recovery, the economies of well-performing states are still stressed by higher unemployment, lower wage jobs, slower pay growth and declining employer-provided health coverage, reports the Corporation for Enterprise Development (CFED). In its seventeenth annual Development Report Card for the States, the nonprofit, nonpartisan think tank observes many American families also are still struggling financially.