Less than two months into 2015, Massachusetts and potentially Arizona will join the growing number of states that have adopted intrastate crowdfunding exemptions – one of the emerging trends in economic development from 2014.  In January, the Massachusetts Securities Division adopted a crowdfunding exemption that will allow businesses to raise up to $2 million in equity from both accredited and non-accredited investors.  A similar exemption was introduced i

Despite having a higher rate of educational attainment than any previous generation, U.S. millennials (between 16-34 years of age) ranked lower than most of their international peers in literacy, mathematics and technology problem solving in a recent study by the Organization for Economic Cooperation and Development (OECD) and the Educational Testing Service (ETS). Those born in the U.S. after 1980 tied for last among the 22 participating countries in numeracy and technology skills, and 16th in literacy.

This week, governors in Connecticut, Illinois, New Hampshire, and Texas revealed their budget proposals, with commonalities around STEM education, workforce development, and university research initiatives. Governors in two states, New Hampshire and Texas, made growth in the innovation economy a specific priority area of their proposed budgets.

The Blackstone Charitable Foundation announced last week that it has awarded a combined $3 million in grants to 20 non-profit organizations around the world dedicated to strengthening entrepreneurial ecosystems and supporting high growth entrepreneurs. Now in the third year of its five-year, $50 million Entrepreneurship Initiative, this year’s funding was granted to 14 new organizations and six organizations from last year’s pool of winners.

The Financial Solutions Lab – a $30 million, five-year initiative managed by the Center for Financial Services Innovation (CFSI) with founding partner JPMorgan Chase & Co. – released its funding competition focused on tech-enabled financial solutions for managing household budgets.

The National Science Foundation (NSF) was appropriated $7.2 billion in FY14 (not including mandatory accounts) of which over $6.8 billion (nearly 95 percent of NSF’s total appropriations) was used to support research and education awards. Over 1,800 institutions of higher education and other organizations received funding from NSF including 11,000 competitively reviewed awards according to a report released by the NSF.  Other highlights include:

Although every state delivers tax incentives for economic development, there are numerous inconsistencies in how these incentives are evaluated.

The Signature Report, an annual report on college completion conducted by researchers at the National Student Clearinghouse Research Center and Indiana University’s Project on Academic Success, identifies six-year student success outcomes and college completion rates by state for the cohort that began post-secondary education in fall 2008.

Today, the Federal Communications Commission (FCC) voted to classify broadband as a public utility. Once rules have been put in place this summer, providers will no longer be able to selectively block access to legal content, throttle access based on content or services or offer paid prioritization of traffic. In addition, the FCC also voted to preempt state laws that impair the deployment of community broadband providers.

California-based companies received about 56 percent of all U.S. venture capital dollars in 2014, the state's highest share of venture activity since the dot com boom of the early 2000s. Over the past 15 years, investment activity has steadily become more concentrated in California and a few other states. In 2009, about 67 percent of all deals and 74 percent of venture capital dollars flowed to the top five states. By 2014, those states' share of venture dollars grew to 80 percent, according to NVCA/Pricewaterhouse Coopers data.

There are 50 areas of need for paradigm-shaping breakthrough technologies that would help stimulate sustainable global development, according to a new report from the Institute for Globally Transformative Technologies at the Lawrence Berkeley National Lab – The 50 Breakthroughs Study. The authors contend that decisionmakers, funding organizations, impact investors, and inventors should focus on developing transformative, breakthrough technologies in these areas instead of supporting incremental technologies.

The American public and scientists have dramatically different views on a range of science, engineering, and technology issues, according to a new report from the New Pew Research Center. The largest gap exists between the two groups on safety of genetically modified (GM) foods. While 57 percent of the public believe GM foods are generally unsafe, 88 percent of scientists connected with American Association for the Advancement of Science (AAAS) believe that GM foods are generally safe.

The National Institute of Standards and Technology-Manufacturing Extension Partnership (NIST-MEP) announced the award of 10 new five-year cooperative agreements to manage Hollings Manufacturing Extension Partnership (MEP) centers. In an open competition, the existing MEP centers in Colorado, Connecticut, Indiana, Michigan, New Hampshire, North Carolina, Oregon, Tennessee, Texas and Virginia, were selected to receive a total of $26 million in funding – an increase of about $10 million (nearly 60 percent). In addition to the additional federal funding:

The Small Business Administration released its annual solicitation for the Federal and State Technology (FAST) Partnership Program, a competitive grants program for eligible organizations to conduct outreach and provide technical assistance services to technology-based small business owners.

SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.

Several governors released their proposed budgets over the last two weeks, and while some states continue to deal with budget shortfalls that prevent many new initiatives from coming into fruition, governors in Pennsylvania and North Carolina included numerous proposals focused on innovation and economic development. Additionally, governors in Louisiana and Massachusetts highlighted new workforce development proposals. 

Pennsylvania

As firms around the world continue to seek funding outside of traditional sources of capital, it has become increasingly difficult to track these emerging markets. That’s why in November the University of Cambridge and the professional services organization EY launched the European Alternative Finance Benchmarking Survey with the support of other major European industry associations, the largest study to-date on crowdfunding, peer-to-peer lending, and other forms of alternative finance in Europe.

While manufacturing has never been more important to the American economy, many manufacturers report that they are unable to fill positions requiring skilled workers, according to the latest report from the National Academy of Engineering. At the same time, workers and students often find it difficult to navigate the web of certifications, degrees and experience levels necessary to claim these jobs.

There are 11 primary barriers to the adoption of additive manufacturing by tech entrepreneurs and small high-growth firms, according to a new report from the Small Business Administration’s (SBA) Office of Advocacy. These 11 barriers were identified via surveys and interviews with entrepreneurs, private industry and other participants. In addition to identifying the 11 barriers, respondents also provide best practices or recent activities around each of the identified barriers.

One hundred Twenty-five  impact investors worldwide reported plans to increase impact investing commitments by 19 percent in 2014, from 10.6 billion in 2013 to 12.7 billion in 2014, according to a J.P. Morgan-Global Impact Investing Network (GIIN) info brief – Impactbase Snapshot: An Analysis of 300+ Impact Investing Funds. The report provides an overview of over 300 funds operating across three key themes: geographic focus, asset class type, and target impact theme.

The Bill and Melinda Gates Foundation is relaunching its advocacy agenda to create a more flexible, personalized, affordable and clear U.S. postsecondary education system. At the center of this agenda will be an effort to collect better metrics on student and institutional performance and to extend finance and financial aid options for lower income students.

Last week, Johns Hopkins University released an action plan to cultivate and support a culture of innovation and entrepreneurship throughout the university and the Baltimore region.

The National Science Foundation (NSF), the National Institute of Standards and Technology (NIST) and the Department of Energy (DOE) far outpace their peer agencies in patenting output per dollar, according to a new study by Battelle's Technology Partnership Practice. Research funded by the National Institutes of Health (NIH), the focus of the study, generated one patent for every $16.9 million invested by the federal government between 2000-2013.

This week, the Obama administration launched TechHire, a new, multi-sector initiative that seeks to educate workers through universities, community colleges, high-quality online courses, and other nontraditional approaches like “coding bootcamps,” with many programs not requiring a four-year degree.

This week, the White House released details on its ninth planned institute within the National Network for Manufacturing Innovation. The Department of Defense will award $75 million for a new manufacturing hub focused on Revolutionary Fibers and Textiles. Regional manufacturers, universities and nonprofits will soon be invited to compete for the funds, which require a 1:1 cost share. The institute will be the sixth funded through the Defense Department. Three others have received support through the Department of Energy.