Most Digest readers know access to equity capital serves a critical role in encouraging regional innovation. But the stats on venture capital (VC) deals demonstrates all too well that money isn't flowing freely everywhere. The economy also is presenting challenges for equity deals, making exits more scarce. How can underserved areas attract early-, seed and late-stage capital?
Entrepreneurship education courses continue to appear across the country. A large-scale commitment was announced recently, as eight Arkansas two-year colleges will offer degrees and certificates in entrepreneurship this fall. The broad availability is expected to help create a culture of entrepreneurship that extends from regions capitalizing in the emerging fields of bioscience and nanotechnology research to the rural pockets of the state in need of high-paying jobs.
Gazelles, a small subset of firms that grow rapidly over a period of years, are believed by many to have a disproportionate impact on the U.S. economy. Though the precise definition of gazelle firms differs between studies, these businesses are recognized as a dominant force in economic and employment growth.
According to statistics released last week by the Bureau of Economic Analysis (BEA), per capita personal income in the U.S. was $38,632 in 2007, a 22.6 percent increase since 2003. Over this same five-year period, 118 of the country’s 363 metropolitan statistical areas experienced an increase in per capita income greater than the U.S. rate of growth. SSTI has prepared a table for all 363 U.S. metro areas, showing the change in per capita income from 2003 to 2007.
The following overview is a synopsis of select recent announcements from research parks across the world, including groundbreakings and development plans to support vibrant regional economies based on science, technology and innovation.
Four leading members of the technology-based economic development community were elected to the State Science and Technology Institute (SSTI) board of trustees today, each bringing fresh perspective and unique insight on issues affecting SSTI’s nationwide network of policymakers and practitioners working to improve state and regional economies through science, technology and innovation.
Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.
State, regional and university technology-based economic development (TBED) is at a crossroads. Many initiatives are celebrating major chronologic milestones at the same time new TBED elements – such as incubators, grant programs, research parks, and equity funds – are popping up almost daily in more and more communities and universities.
Each year, SSTI members assemble timely, relevant session topics offering practical information with lessons that can be directly applied to issues currently facing the TBED community. Rest assured that when you return from the conference, you will be equipped with fresh ideas to tackle your organization’s most pressing needs. SSTI uses a two-stage survey process during the summer months to develop the conference agenda, rather than having the agenda set by invitation or call for papers many months in advance.
Keeping with the underlying theme of "Where Does TBED Go from Here?" for SSTI's 12th Annual Conference, David Wilhelm, founder and President of Woodland Venture Management, will provide the keynote address on the topic of making successful VC investments anywhere.
SSTI will be holding its first poster session dedicated entirely to celebrating why states, regions, universities and related organizations engage in TBED. Our goal is to have the best achievements in the field on display as posters at the conference. Each poster will profile a real success story providing hard evidence of how TBED investments are sustaining the nation’s position as a global leader for innovation and competitiveness – one local or regional project at a time.
Join fellow SSTI conference attendees for an opening reception at the Rock and Roll Hall of Fame, located on the shore of Lake Erie in downtown Cleveland. Just like the music it pays homage to, inside and out, the Rock Hall exudes coolness. In addition to celebrating the opening of SSTI’s annual conference, we will be joined by Ohio Lt. Governor Lee Fisher, director of the Ohio Department of Development to mark the 25th anniversary of Ohio’s Thomas Edison Program and the state’s sustained investment in a broader set of TBED strategies and programs.
Crisp, clean air, blue waters and autumn leaves are just a few reasons why fall is the best time to visit Northeast Ohio. Cleveland was ranked as the number one “Most Livable City” in the U.S. by the Economist in 2005, primarily because it has all the benefits of a major city without sacrificing quality of life. Cleveland+ is home to major research institutions and healthcare organizations; major league sports teams; world-class cultural institutions; and great museums and entertainment attractions.
SSTI conference “regulars” know that this event is the field’s most stimulating and rewarding professional development investment one can make. Each year’s agenda provides new perspectives and approaches to dealing with common problems, new issues and the latest trends and challenges facing your efforts to encourage regional innovation. You can expect:
SSTI’s 12th Annual Conference is made possible by the support of our lead host sponsor, NorTech, a team of Ohio co-hosts, and the generous support of our national conference sponsors. SSTI extends its appreciation and thanks to the following exemplary organizations serving as our national sponsors:
Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.
Massachusetts Governor Deval Patrick recently signed two bills to improve the commonwealth's standing as a leader in environmental protection and to support the growth of the clean technology industry. Supporters of the Global Warming Solutions Act and the Green Jobs Act believe that the legislation will position Massachusetts as a recognized center for cleantech policy and business.
Against the backdrop of Northeast Ohio, a region transitioning to a high-tech economy through focused efforts in industry growth and R&D activity, three state economic development directors championing economic growth will provide SSTI conference attendees with answers to the all important question, Where do we go from here? in a highly interactive and future-looking session.
An upcoming report finds that Hawaiian high-tech industries contributed $3 billion to the state's economy in 2007.
One of the exciting half-day pre-conference sessions at this years SSTI Annual Conference in Cleveland, Oct. 14-16, is tailored to organizations looking to get in on the action of partnering with federal laboratories across the country. Some of the brightest brains from the leadership of the federal laboratory system and state TBED organizations with successful fed lab experience will be at the session to provide specialized help for those in attendance.
SSTI will be holding its first poster session dedicated entirely to celebrating why states, regions, universities and related organizations engage in TBED.
Register today to be sure you receive this special rate. On Wednesday, Sept. 24, registration fees will increase by $100. Hosted by NorTech, the 2008 SSTI Annual Conference will be held at the beautiful InterContinental Hotel & Conference Center Cleveland, October 14-16.
This year, SSTI is providing conference attendees with the unique opportunity to take part in plenary and semi-plenary conference sessions through direct involvement and interaction with leaders in the TBED community – industry leaders, economic development directors, and university presidents to name a few.
The Alberta Center for Advanced Microsystems and Nanotechnology Products (ACAMP), funded with $8 million from the provincial Alberta government and $3.5 million from the Canadian government, recently commenced operations in the Edmonton Research Park. The new program will be structured around three central components to assist commercialization in this area: packaging and assembly, product development, and marketing.