Search

The Economic Development Administration (EDA) released the third round of the i6 Challenge to spur high-growth entrepreneurship. EDA and its partners will commit up to $6 million to establish six proof-of-concept centers that promote American innovation, foster entrepreneurship and increase the commercialization of ideas into viable companies. These centers incorporate a range of services from technology and market evaluation, through business planning and mentorship and on to early stage access to capital. Organizations eligible for i6 challenge grants include U.S.

Do you like to plan ahead? Do you have some funds left over you need to spend this fiscal year? Why not register early for SSTI's 16th Annual Conference in Atlanta, Oct. 29-30? Every year, our conference offers engaging conversations and expert opinions from the world of technology-based economic development. Visit our site for more information about this year's conference, including our opening reception at the Georgia Aquarium on Oct. 28. Read more at ssticonference.org... Interested in becoming a sponsor of this year's conference? Many sponsorship opportunities are still available!

Although official results may not be declared until July, a statewide ballot measure that would raise taxes on tobacco products to fund cancer research was losing by a vote of 50.4 percent to 49.6 percent, according to unofficial results reported Wednesday from the California secretary of state.

States have been slow to recover from the recession, but amid all the doom and gloom surrounding the national economy, state general fund expenditure trends are moving in a positive direction. The Spring 2012 Fiscal Survey of States finds governors' recommended budgets show an overall increase in both general fund expenditures and revenues in fiscal year 2013. There are, however, significant challenges ahead for states, including increased expenditures, particularly Medicaid costs and enrollment, and reductions in federal funding.

Each year, a group of talented and dedicated practitioners from across the country converge to learn from one another, share successes and challenges, and participate in a national dialogue on improving innovation and competitiveness. This year's theme, The Power of Re- Defining, Imagining and Energizing Regional Economies, echoes the need for bold, innovation-centered ideas and TBED organizations are leading the charge.

Richard Bendis has been named the first president and CEO of BioHealth Innovation, Inc. a regional private-public partnership focusing on commercializing market-relevant biohealth innovations and increasing access to early stage funding in Central Maryland.

This week, both the U.S. House and the Senate Appropriations Subcommittees on Commerce, Justice, Science and related agencies (CJS) approved FY13 funding legislation supporting several key TBED agencies.

PCAST provides several recommendations that will continue the success of NNI and translate the benefits of investments in nanotechnology to the public. Individual recommendations are given in four categories of key importance: strategic planning, program management, metrics and EHS research. Specific recommendations for 2012 and beyond include, but are not limited to:

Massachusetts House leaders introduced a bill earlier this week calling for funding to support R&D at universities and research centers, manufacturing grants and workforce training, and a venture capital mentoring program for startups. The measure is touted as a jobs bill to stimulate the state's sluggish recovery by focusing on high-growth sectors of the economy.

As global economies shift, developing nations are attempting to transition as suppliers of raw materials to nations that are producers of value-added goods. Africa has been a major supplier of raw materials to the developed world. However, it drastically lagged behind in the production of valued-added goods. Recently, African nations have attempted to reinvent their economic development efforts from suppliers to producers by developing programs to grow tech-based economies.

Sens. Moran (R-KS), Warner (D-VA), Rubio (R-FL), and Coons (D-DE) introduced legislation on Tuesday that would continue to spur the economy through the creation of new businesses. Senate Bill 3217, also known as Startup Act 2.0, expands on the initial Startup Act introduced by Sens. Moran and Warner in December, and builds on the success of the JOBS Act passed with bipartisan support in both houses and signed by President Obama earlier this year.

Two common themes emerged in a trio of reports aimed at growing the bioscience sectors in Indiana, New York and Pennsylvania: the need for a sustained financial commitment from the states and the importance of a shared vision and better communication between policymakers and industry leaders. In all three reports, the authors say the payoff is big for the states. The bioscience and life science industries support high-wage jobs and attract significant federal funds.

Indiana

Massachusetts Governor Deval Patrick announced the creation of the Massachusetts Big Data Initiative, a number of steps and initiatives that will help turn the state into a world leader in big data — the collection and analysis of data that is too big, growing too fast or is too complex for existing information technology systems to handle. To achieve this goal, the state will partner with several private partners and research institutions to establish several new initiatives including:

The Michigan Economic Development Corporation (MEDC) announced last week five new programs under the Pure Michigan Business Connect initiative established last year to provide small businesses in emerging industry sectors with economic development incentives, startup capital and support services (see the June 8, 2011 issue of the Digest).

The new programs focus mostly on providing access to capital and making connections. They include:

The Kansas Bioscience Authority (KBA) has launched a collaborative partnership of more than 90 contract research organizations (CROs) to help the region compete in the pharmaceutical and medical device industries. BioResearch Central will help promote the Greater Kansas City region as a destination for pharmaceutical R&D at a time when drug companies are increasingly looking overseas for their contract research needs.

U.S. immigration policies are irrational and undirected according to a new report from the Partnership for a New American Economy and Partnership for New York City — Not Coming To America: Why the U.S. is Falling Behind in the Global Race for Talent. In sharp contrast, to attract immigrants that drive economic growth and increase international competitiveness, foreign countries have adopted targeted and strategic policies that include:

A new report from the National Academies' National Research Council urges the U.S. federal government, state government, business and universities to act in concert to preserve the competitiveness of the nation's research universities. The report, a follow-up to 2005's Rising Above the Gathering Storm, suggests that a number of ongoing trends threaten U.S. global leadership in higher education. The most critical of these issues are declining federal funding for university research and the erosion of state support for higher education in general.

Governments of advanced economies are starting to believe as the 21st century advances significant opportunities for their technology-based product and service sectors will emerge from increasingly open, competitive and affluent global markets. To compete in this changing world, they are looking to expand access to capital for startups and entrepreneurs, support their research and development (R&D) infrastructure and address weaknesses in their national economies.

Unlike last year when a wave of new governors pushed sweeping proposals to re-organize economic development activities and grow the economy, the 2012 legislative sessions brought mostly modest changes for tech-based initiatives. While many programs were level funded or received smaller increases than in previous years, a handful of states increased funds or introduced new initiatives to support economic development efforts.

The Small Business Administration (SBA) plans to make seven awards to support organizations helping to build strong regional innovation clusters. The awards will support public-private partnerships that bring together businesses, academic institutions, economic development organizations and other local actors to lay the foundations of sustainable growth and economic competitiveness. Three of the awards will go to small businesses that provide cluster-related services. SBA intends to post a request for proposals on or about July 5.

The Economic Development Administration (EDA) announced the Strong Cities, Strong Communities (SC2) Pilot Challenge, a $6 million pilot initiative to assist economically challenged municipalities in creating long-term economic development plans. Under the SC2 initiative, the EDA will select six pilot communities from across the country. To be eligible for the SC2 initiative, the applicant must be a local government that meet all the economic distress criteria described in the announcement and has a current population of at least 100,000.

During the 2012 BIO International Convention, 41 state bioscience organizations announced the formation of the Coalition of State Bioscience Institutes (CSBI), a coordinated national effort to deliver industry-led life science education, workforce development and entrepreneurship programs. The coalition is intended to allow state bioscience organizations to share knowledge with the goal of improving bioscience education and innovation, while maximizing industry support. CSBI's first task is to identify leading state programs for national consideration including:

American Recovery and Reinvestment Act (ARRA) funding allowed the U.S. federal government to maintain steady funding of research and development (R&D) during the economic crisis. Now that the vast majority of those funds have been spent, however, the U.S. will have to step up its support of R&D to remain competitive. Earlier this year, the National Science Foundation (NSF) National Center for Science and Engineering Statistics released some illuminating data on how an increase in federal spending helped buoy U.S.

When testing fourth-, eighth- and twelfth-grade students on their ability to conduct science experiments and thoughtfully explain the results, investigators made three key discoveries that policymakers say may be troubling for future workforce needs. The National Center for Education Statistics Science in Action report found that when using limited data sets, students could make straightforward observations on the data.

To continue the momentum surrounding economic gardening, innovation and entrepreneurship efforts that began last year, lawmakers provided level funding and added funds for arts and cultural programs and community-focused workforce initiatives in the FY13 budget. Michigan's higher education institutions will receive a 3 percent increase in funding, which is tied to performance metrics that include R&D expenditures and degree granting in critical skills areas.