Experience can be an invaluable, and sometimes irreplaceable, asset during the intense and complicated process of building a new firm. Many theorists believe that past entrepreneurial experience, whether with successful or unsuccessful firms, prepares entrepreneurs for the pressures and risks involved in starting a company.
A popular strategy in the TBED community is the attempt to both recruit and develop academic entrepreneurs that may have a substantial effect on the growth of a region's economy. Successful efforts to attract researchers, such as the Georgia Research Alliance and Kentucky's Bucks for Brains programs, are being replicated across the country. However, if one of the hoped-for payoffs is the successful creation of innovative companies, what types of researchers are best suited for this role?
Cities play a pivotal role in producing the technologies that sustain high-tech industries, hosting a majority of the businesses and individuals that comprise those industries. Modern urban theory, including the work of Edward Glaeser and Richard Florida, has popularized the idea of cities as key nodes in which new knowledge is created, spread and adopted by innovative businesses and entrepreneurs.
Industrial R&D expenditures in the U.S. totaled $208 billion in 2004 — an increase of 2.1 percent ($4.3 billion) from 2003, according to the National Science Foundation’s (NSF) Survey of Industrial Research and Development.
Gov. John Huntsman, Jr. named Jack Brittain, dean of the University of Utah Business School, vice president in charge of the new Office of Technology Ventures. Brittain, dubbed the "innovation czar," will continue to lead the business school in addition to his new position.
Gov. John Huntsman, Jr. named Jack Brittain, dean of the University of Utah Business School, vice president in charge of the new Office of Technology Ventures. Brittain, dubbed the "innovation czar," will continue to lead the business school in addition to his new position.
Gov. Jim Doyle named Mary Burke as the new head of the Wisconsin Department of Commerce. Burke replaces Cory Nettles, who resigned last month.
Rose-Hulman Ventures President Jim Eifert and Executive Vice President Brij Khorana resigned their positions to return to faculty duties at the Rose-Hulman Institute of Technology.
John Maxson, former president of the Illinois Coalition, was named CEO of The Greater North Michigan Avenue Association.
Michael Relyea was named deputy executive director of the New York State Office of Science and Technology Academic Research.
Gov. Matt Blunt appointed Greg Steinhoff to head the Missouri State Department of Economic Development.
Mel Ustad, current interim vice president for research at the University of South Dakota, is the new director of the state's first Office of Commercialization.
The Kauffman Foundation named Patrick Von Bargen CEO of the Center for Venture Education. Von Bargen was the former managing executive for policy and staff at the U.S. Securities & Exchange Commission.
Tom White, president of the Greater Durham Chamber of Commerce, announced he will resign his position after 28 years with the organization.
Kim Zentz, CEO of the Spokane Transit Authority, announced she will take a one-year position as interim executive director of the Spokane Intercollegiate Research and Technology Institute.
With the title America Creating Opportunities to Meaningfully Promote Excellence in Technology, Education, and Science Act, it isn’t surprising that S. 761 had 69 cosponsors in the U.S. Senate. The bill’s passage last night by an 88-8 vote by the full chamber sends an even stronger signal that the vast majority of the Senate has heard the message regarding the need for the federal government to be more aggressive in its support for science and technology.
Over the last few months, three states have announced new strategies to encourage regional tech-based economic development. Several states have experimented with how best to support or encourage regional TBED in the past, resulting in both successes and failures. In some cases, state sought partnerships at the local level in the creation of new programs while other states took a more hands off approach, such as providing seed funding to create regional technology councils.
California accounted for 22.4 percent of the nation’s total industrial R&D in 2004, leading the U.S. with $46.6 billion in total industrial R&D expenditures, according to the National Science Foundation’s (NSF) Survey of Industrial Research and Development: 2004. Michigan ($15.2 billion), Massachusetts ($11.8 billion), New Jersey ($11.0 billion), and Texas ($11.0 billion) rounded out the top five.
As the 2007 legislative session in Maryland came to a close last week, Gov. Martin O'Malley celebrated an important victory for the future of life sciences with a $10 million increase for stem cell research and the creation of a life sciences advisory board. Gov. O'Malley requested the 66 percent increase during his Jan. 31 State of the State Address (see the Feb. 19, 2007 issue of the Digest).
It’s no secret that research and education are important to a state’s economy, but for many poorer states, they may be even more vital than previously believed. A few recent studies suggest that increasing the number of patents and the education level of residents in a state could be a valuable first step in overcoming persistent poverty.
While the Tucson area is growing rapidly, surpassing one million residents last fall, regional economic development officials are concerned about personal income levels keeping pace with the growth. They argue that a highly-skilled and educated workforce within existing and emerging clusters is imperative to raise per capita personal income and to improve the region’s economic growth along with its burgeoning population.
It’s a question that many policymakers and researchers across the world are attempting to answer. A recent paper by Sharon Belenzon and Mark Schankerman, Harnessing Success: Determinants of University Technology Licensing Performance, adds to the growing body of knowledge on the topic, exploring how the differences between universities may impact the income generated by licensing technology.
Please plan on joining us in Baltimore on October 18-19. You can learn firsthand how the Maryland Stem Cell Research Fund successfully secured the increase in funding and how the initiatives are progressing, all while enjoying the view of the gorgeous Inner Harbor (see related story in this Digest).
The Georgia Biomedical Partnership named Charles Craig as its new president.
E. Dana Dickens announced he will step down from the Suffolk City Council (Va.) to become president of the Hampton Roads Partnership, a group promoting economic development in the region.
The Georgia Biomedical Partnership named Charles Craig as its new president.