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In perhaps the most difficult budget season of the last 25 years, where the President’s budget has proposed eliminating funding for scores of programs, both the House and Senate subcommittees with budget oversight for the Economic Development Administration (EDA) have proposed continuation funding of $50 million for FY2026 for the popular Build 2 Scale (B2S) program—referred to as the Regional Innovation Program Grants in budget language.

The U.S. Small Business Administration adopted new rules in 2023 that made it easier for venture capital funds to leverage federal resources under the Small Business Investment Company (SBIC) program, thereby increasing the capital they have available for early-stage investments.

The U.S. Small Business Administration announced a new funding opportunity through the Regional Innovation Cluster (RIC) Program. The program is designed to enable new RICs to assist small businesses in matching innovative technologies to industry needs, with the aim of reshoring critical industrial and manufacturing capabilities, securing domestic supply chains, and spurring job creation.

SBA is interested in competitive offers from organizations with relevant partnerships and small business expertise in critical industries, including: 

Vaccine and therapeutics storage and delivery may never be the same as Emory University and Micron Biomedical recently announced the first clinical trial of a novel rotavirus vaccine, CC24, delivered via dissolvable microarray technology. This clinical trial was the first clinical evaluation of any drug or vaccine delivered via patch or microarray that is sponsored by the U.S. Centers for Disease Control and Prevention (CDC). 

The Opportunity Zone (OZ) program, first established in 2017 with a ten-year lifespan, has been made permanent in Public Law No: 119-21. As noted in a 

Massachusetts’ Gov. Maura Healey recently proposed a multi-year funding strategy (Five-Year Massachusetts Capital Investment Plan (CIP) [FYs 2026-2030] that  would include investment of $890.4 million, including general obligation bonds and private sector contributions, for many of the state’s TBED and innovation initiatives (programs are outlined below).

After the tremendous learning and community-building experience at SSTI’s conference last December at the beautiful Sheraton at Wild Horse Pass in Arizona, many people are looking forward to our next gathering. We are too, but have decided to postpone the event until next year with dates to be determined.

As policymakers consider how to invest limited dollars to stimulate R&D across the U.S. while other countries increase their investments, it’s important to examine whether newer regional policy approaches have the potential to increase national competitiveness versus traditional individual programs.

July 29
3:00 p.m. EDT
Free

Please join us for the Innovation Finance subcommunity meeting where we will discuss Innovation Finance 101. This meeting is intended to be the first in a series of foundational conversations on innovation finance and will focus on the terminology, process, and structure of venture capital investment. Register here. 

The New York City Economic Development Corporation (NYCEDC) recently announced that it is awarding Fordham University $3 million from its Greenlight Innovation Fund. The university will also receive additional funds, including a $1.1 million grant from Councilman Oswald Feliz, to create the Bronx Green Job Center (BGJC), a workforce development and entrepreneurship hub that aims to create an equitable green-job pipeline in the Bronx.

Please note: this article is not intended as a comprehensive review of Public Law No. 119-21, nor should our reading of the law be treated as tax or legal advice.

The overlap between applicants and recipients of the three large regional innovation approaches attempted by the federal government so far continues with the July 9, 2025, NSF narrowing of the field for the second NSF Regional Innovation Engines competition to 29 semifinalists across the country.

Over the past 40 years, many people involved in SBIR and empirical analysts in the research, finance, and technology sectors have said SBIR awardees, as a group, are uniquely important for America’s innovation goals.

SSTI has updated its Key Technology Area Investment Data Tool with new and refreshed data spanning January 1, 2013, through June 30, 2025. The tool comprises two interactive visuals and uses Pitchbook technology verticals selected to align with many of the key technology focus areas (KTFAs) defined in the CHIPS and Science Act of 2022 (CHIPS).

The U.S. National Science Foundation (NSF) is requesting information from the public to help shape potential future updates to its Key Technology Focus Areas (KTFAs). NSF’s KTFAs directly influence and shape innovation- and economic development-related programs.

In 2024, nearly 628,000 job postings demanded at least one AI skill, according to research from the Federal Reserve Bank of Atlanta’s Center for Workforce and Economic Opportunity. The research also revealed that the percentage of all job postings requiring at least one AI skill increased from approximately 0.5% in 2010 to 1.7% in 2024.

If you are an entrepreneurship service organization (ESO), you likely are seeing more companies within your scope adopting artificial intelligence (AI). But how well do you understand their needs for further assistance with the transformative platform technology?

Patents serve as a powerful tool that promotes the disclosure and diffusion of new innovations while allowing inventors an exclusive period to commercialize and profit from the technology. The U.S., while a hub for innovation and a leader in patents, has experienced stagnation in the growth of Patent Cooperation Treaty (PCT) applications and USPTO-granted utility patents in recent years. Ever since 2021, China has surpassed the U.S. in PCT applications, and more than half of all USPTO utility patents are owned by foreign entities, including Japan and the European Union. 

Two recent research reports, one from Georgetown University's Center on Education and the Workforce (CEW) and another from Ivy Tech Community College, in collaboration with TEConomy Partners, LLC, focus on credential shortages that are keeping many jobs that don't require a bachelor's d

The U.S. Department of Commerce recently announced that the agency formerly known as the U.S. AI Safety Institute has been renamed the Center for AI Standards and Innovation (CAISI). The center’s priority focus areas also have been adjusted so that CAISI can serve as industry’s primary point of contact within the U.S. Government to facilitate testing and collaborative research. According to the Commerce announcement, CAISI will:

The Australian Strategic Policy Institute’s (ASPI) report, ASPI’s two-decade Critical
Technology Tracker: The rewards of long-term research investment, aims to identify
which countries and institutions are leading in high-impact research across 64 critical
technological domains, including defense, space, energy, environment, artificial

Many SSTI members will attend the annual BIO International Convention, which will be held this year in Boston from June 16 to 19. There, they join a cohort of organizations with various connections to the life sciences, including contract research and manufacturing companies, academic centers, "big" pharma, "little" pharma, and foreign nations representing their life sciences efforts.