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To ensure economic growth and the success of the industries of tomorrow, the U.S. government needs to expand federal support for research and improve the efficiency of the process of federally funded knowledge leading to U.S. innovation and jobs, according to a recently released study by the Information Technology and Innovation Foundation (ITIF) and the Brookings Institution’s Bass Initiative on Innovation and Placemaking. In Localizing the economic impact of research and development: Policy proposals for the Trump administration and Congress, ITIF and Brookings suggest 50 policy proposals that the new administration and Congress can undertake to bolster tech transfer, commercialization, and innovation.

Gov. Andrew Cuomo proposed a new initiative this week to grow the life science research cluster throughout the state, pledging $550 million through a variety of programs including tax incentives, state capital grants, and investment capital with an expected match of $100 million from private sector partnerships for operating support.

The 21st Century Cures Act was signed by President Obama on Tuesday and is broadly intended to facilitate the research, development and transfer of medical discoveries in order to better-address diseases affecting American people. While the bill has received mainstream coverage for its bipartisanship – the core authors were two Democrats and two Republicans – and billions in new research spending – more than $5 billion in authorizations – the text also contains potentially significant changes for federally-supported medical research policy.

In last week’s Digest article – Alternatives to VC: Reconsidering the Startup Financing Paradigm – SSTI examined the conventional venture capital (VC) model as well as its advantages and limitations. In this installment, we will highlight alternatives such as revenue-based financing, venture debt, crowdfunding and a new financing model for cleantech proposed by Massachusetts Institute of Technology (MIT) researchers. We also take a look at the potential that these alternatives have for the field of tech-based economic development.

As a way to support populations that are underrepresented in entrepreneurial activities, the Kauffman Foundation has announced $4.3 million in grants to 12 organizations that provide entrepreneurial support services to women and minorities. The awardees were selected from more than 376 applicants and range in both geography and industry-focus. They will receive awards ranging from $87,000 to $420,000 over the next two years.

This week, America remembers the 75^th anniversary of the attack on Pearl Harbor and its entrance into World War II. Veterans of World War II have had a considerable impact on the current economy: The Bureau of Labor Statistics finds that World War II veterans had the highest rates of self-employment of any period of service.

The U.S. ranks second on a global manufacturing competitiveness index, according to the 2016 Global Manufacturing Competitiveness Index by research firm Deloitte Global and the Council on Competitiveness. The U.S. ranking has improved in each of the past studies and is poised to take over that top spot from China by 2020, the study maintains. However, executives from across the world in responding to the study, noted that talent is the leading factor in determining manufacturing competitiveness, and finding and cultivating that talent is a topic that has received increasing attention from the manufacturing sector. While such rankings provide an interesting focal point, their real value lies in the discussion and attention focused on the subject matter. SSTI recently interviewed several leading thinkers on the subject, finding common calls for changing the approach to the talent pipeline in manufacturing, as well as a cautionary note on rankings.

While the majority of founders say the tech industry is in a bubble (57 percent of respondents),  nine out of 10 founders believe that it’s a good time to be starting a company and are highly optimistic about their own firms’ futures, according to State of Startups for 2016 from First Round Capital – a seed-stage venture firm.

NC Gov. Pat McCrory conceded the election to Democrat Roy Cooper on Monday after a recount he requested in Durham County was showing no change in the election results.  Acknowledging that it was a divisive election, Gov.-elect Cooper said, “I know still that there is more that unites us than divides us.”  Cooper will face a Republican super majority in both chambers of the state legislature.

Venture capital (VC) financing is a highly competitive process that backs only 1 percent to 2 percent of all startups that apply for funding, leaving many searching for financing alternatives.  In this two-part feature, SSTI examines the typical VC model, its advantages and limitations, and next week will highlight alternatives such as revenue-based financing, venture debt, crowdfunding and a new financing model for cleantech proposed

Mosquito-resistant uniforms for U.S. military personnel and a bio-refinery that turned a city landfill into an “energy park” are two new developments resulting from investments in scientific research by the U.S. Department of Agriculture.  The USDA Annual Report on Technology Transfer for FY 2015 includes new agriculture-related discoveries, inventions and processes made by USDA researchers, universities and small businesses with the potential for commercial application.

The country’s competitive position in the global economy hinges on developing broad-based understanding and support for federal policies that will spur innovation and growth.  The policy discussions surrounding the high-tech economy should encompass all congressional districts, not just the iconic places like Silicon Valley, according to a report released this week by the Information Technology and Innovation Foundation (ITIF).

University research and development expenditures reached $68.8 billion in FY 2015, an increase of 2.2 percent from FY 2014, according to recently released data from the Higher Education Research and Development (HERD) Survey by the National Center for Science and Engineering Statistics within the National Science Foundation. While the bulk of the funding (55.2 percent of total R&D expenditures) comes from federal expenditures, in current dollars, federally funded R&D at universities dropped 0.2 percent from $37.96 billion to $37.88 billion in FY 2015. Meanwhile, nonfederal R&D expenditures accounted for 44.8 percent of the total in FY 2015 compared to 43.5 percent in FY 2014 growing from $29.24 billion in FY 2014 to $30.79 billion in FY 2015. The greatest increase came from the business community (which increased their funding by 7.5 percent to top $4 billion for the first time), followed by nonprofit organizations and institution funds. Universities’ own funding of R&D comprises the largest source of non-federal R&D funding, or $16.7 billion in FY 2015.

Ninety-one percent of apprentices find employment after completing their program with an average starting wage above $60,000, according to a new report from the Department of Commerce’s Economic and Statistics Administration (ESA). In The Benefits and Costs of Apprenticeships: A Business Perspective, ESA researchers performed a case study analysis of 13 apprenticeship programs launched by businesses and intermediaries from a variety of occupations, industries, and regions.

The U.S. Department of Energy (DOE) recently announced the Zero Energy Districts Accelerator, an initiative to develop best practices for establishing commercial districts that have net-neutral energy consumption. The accelerator is now one of 12 listed under the Better Buildings Initiative, which also includes dedicated programming for community and manufacturing initiatives.

Targeted investments in robotics research and development are critical to America’s competitiveness, according to a new roadmap authored by a group of more than 150 robotics experts across academia and the private sector. The plan, From Internet to Robotics: A Roadmap for US Robotics, presents potential research priorities for the field and discusses the workforce development, legal, ethical, and economic ramifications of automation technologies.

Regional activities supporting innovation and entrepreneurship are reaching across U.S. borders, forming new partnerships with organizations from neighboring countries to broaden their impact and leverage their strengths. Beyond traditional trade relationships, these activities are promoting new opportunities for longer term collaborations with potential to benefit the U.S. and its neighbors.

The U.S. Department of Commerce announced this week that 35 organizations will receive nearly $15 million in funding to create and expand cluster-focused, proof-of-concept and commercialization programs, and early stage seed capital funds through the Economic Development Administration’s (EDA) Regional Innovation Strategies (RIS) program.

Over the last two months, the Economic Development Administration (EDA) has made nearly $35 million in investments intended to spur economic prosperity across the country including nearly $28 million for communities impacted by transformations in the energy industry. These efforts are intended to unlock the potential of regional assets including community members, local institutions of higher education, and regional industies by funding entrepreneurship, innovation, research and development (R&D) activities, and other capacity-building efforts.