While Congress remains in deadlock over another looming budget crisis, there is bipartisan movement on national immigration reform. Last week, a bipartisan group of senators introduced the Immigration Innovation Act of 2013 that focuses on reforming immigration law for high-skilled workers and promoting U.S. global leadership in innovation.
Tom McDonnell, President and CEO of the Kauffman Foundation, on Tuesday presented the organization's outlook on the current level of entrepreneurial activity in the U.S.. He began with news that there was growing national consensus that entrepreneurs can help promote growth in the sluggish economy, but cited challenges in capital financing and regulations.
The Saudi Basic Industries Corporation (SABIC) will invest $500M in launching four new technology and innovation facilities this year. Two facilities will be based in Saudi Arabia, and the other two will be built in India and China. SABIC's expansion will bring the organization's number of research facilities around the world to 18.
In his fifth State of the Union address, President Obama announced education and immigration reform as core issues for his second term and laid out a plan for innovation and job creation policies that would be fundamental drivers for broad-based, long-term economic growth. While acknowledging the need for entitlement reform and deficit reduction, President Obama held firm in his conviction that public investment is necessary to ensure that the United States remains an economic superpower in the 21st century.
DARPA, the Defense Advanced Research Projects Agency, and the Semiconductor Research Corporation have announced a five-year $194 million program working with six universities across the country to support the growth of the semiconductor industry. These research centers are:
The Department of Energy (DOE) is will commit up to $12 million for a new round of funding for the SunShot Incubator Program — a pay-for-performance program focused on helping solar energy startups transition from a proof-of-concept or business plan to domestic commercialization and/or deployment.
The Brookings Institute, in partnership with the Information Technology and Innovation Foundation (ITIF), released three bold policy proposals intended to bolster the competitiveness of the U.S. manufacturing and advanced industries sector by improving innovation, workforce, and higher education connections.
Four have made it to the final round of the EU's Future and Emerging Technologies Flagships program in which 26 projects submitted proposals for funding. Each project is set to receive approximately $72 million from the EU's research budget that will be matched by national governments and other sources. If milestones are met within the first 30 months, the awards could total upwards of $1.33 billion each over the next decade.
In Connecticut, Governor Daniel P. Malloy has proposed a Bioscience Innovation Act, which would create a 10-year $200 million fund to invest in the state's bioscience sector. The proposed fund would be administered by Connecticut Innovations, a quasi-public venture development organization. Governor Malloy's announcement was presented at the headquarters of Jackson Lab, a research and development institute that is being developed with assistance from the state of Connecticut.
Initiatives aimed at commercializing research were among the most common technology-based economic development approaches in 2012 for states seeking faster returns and job growth during a slow recovery. In the new legislative session that began last week in Colorado, lawmakers introduced a bill to increase access to capital for new startup companies in advanced industries aimed at accelerating the tech commercialization process.
According to a new brief from the National Science Foundation (NSF), preliminary 2011 data indicates that U.S. total research and development (R&D) in 2011 was $414.0 billion (in current dollars), an increase of $7.3 billion from 2010 totals ($406.7 billion). These results mark the second straight year of growth in U.S. R&D expenditures following a $1.8 billion decline in 2009 — only the second decline in current dollars since the early 1950s.
Babson University researchers report that nearly half of all the world's entrepreneurs are between the ages of 25-35 years, according to the 2012 edition of the Global Entrepreneurship Monitor. Also, in all geographic regions, 25-34 year olds reported the highest rates of entrepreneurship. Babson researchers, however, emphasize that large numbers of entrepreneurs are found at all age ranges. Read more...
A new article from Governing magazine is promoting free digital access to public information, or “Open Data,” as a pathway for promoting entrepreneurship and government cost-savings. When governments release free digital public records entrepreneurs can use the information to create apps that provide valuable and profitable services to consumers.
Through a combination of new funding in the current budget and legislative measures aimed at coordinating state efforts and measuring progress, Gov. Bob McDonnell hopes to showcase Virginia as the premier destination for entrepreneurs to start or relocate a business. New funding, to the tune of nearly $10 million, would be used to establish a regional accelerator grant program, cybersecurity accelerator, and career pathways development program, among others.
The second installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Colorado, Nebraska, Nevada, Rhode Island, South Dakota, Vermont, Washington, and Wisconsin. Our first installment was in the Jan. 9 Digest.
Innovation was a key term used in Gov. Andrew Cuomo's State of the State address and is referenced heavily throughout his economic development agenda for the upcoming year. The governor proposed creating innovation hot spots, an innovation network and innovation venture capital fund. Efforts would be focused on accelerating technology transfer and providing funds to attract startup companies. Cleantech investments and support for competitive university-based projects that emphasize economic impact also are a priority for the governor.
SSTI's Tech Talkin' Govs series has returned for its 13th annual edition. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses across the nation. The first edition includes excerpts from speeches delivered in North Dakota, New Hampshire, New York, and Virginia.
The New York State Energy Research and Development Authority (NYSERDA) announced that it will commit a total of $15 million to Columbia University, the Polytechnic Institute of New York University (NYU-Poly) and High Tech Rochester to create three proof-of-concept centers focused on turning university-developed, clean energy ideas into successful businesses. Each regional center will receive $5 million in seed money over the next five years, cost-sharing required, with the expectation of being self-sustaining once NYSERDA funding ends.
Early January 2nd, President Obama signed the American Taxpayer Relief Act of 2012 (AFTA) into law after it passed in the House by a 90-vote margin the previous evening. While the deal postponed difficult decisions concerning spending cuts and long-term debt reduction measures by delaying the FY13 sequester until March 1, 2013, AFTA averted steep, across-the-board spending cuts and tax hikes set to take place at the beginning of the year.
In 2012, the tech industry lobby substantially ramped up their efforts to influence the federal legislative agenda. In the coming year, they are poised to grow their influence in Washington as debates rage over the future of technology investment programs and regulatory policies.
The Small Business Administration (SBA) announced new amendments to regulations governing size and eligibility for the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Effective January 28, 2013, the new SBA rules address ownership, control and affiliation for participants in the SBIR and STTR programs including participants that are majority-owned by multiple venture capital operating companies, private equity firms or hedge funds.
The Information Technology and Innovation Foundation (ITIF) released the sixth edition of its bi-annual State New Economy Index last month. The report uses 26 indicators to assess the progress states have made adjusting to the realities of the innovation economy. Massachusetts lead in the rankings, as it has since the lauch of the index, while Delaware rose four ranks since 2010 to occupy second place. Read The 2012 State New Economy Index...
Amid the economic uncertainty surrounding fiscal cliff negotiations, and what it means for states, some governors are erring on the side of caution when it comes to funding recommendations for the upcoming year. At the same time, several state budget officers are projecting significant revenue shortfalls in the current fiscal year or biennium as a result of lower than expected tax collections.