A new report from the Ohio Board of Regents proposes a statewide commercialization ecosystem to create jobs, promote economic growth and increase wealth in the state. According to the report, recent research suggesting that, when compared to other states, Ohio lags behind in the commercialization of technology. In The Condition of Higher Education in Ohio: Advancing Ohio's Innovation Economy, there are several recommendations to improve the state's technology transfer pipeline to turn academic research into market-ready products and services including:

Some of the brightest, most innovative ideas are made in the tech-based economic development field. Every day, practitioners are discovering new ways to support companies and entrepreneurs who are building the next economy. SSTI recognizes these achievements through the award for Most Promising TBED Initiative. Last year's winner, NorTech wowed the judges with their systematic approach to growing industry clusters. Submit your accomplishments by July 17 and become the next winner of this prestigious award.

A new online flexible degree program backed by Gov. Scott Walker and the University of Wisconsin (UW) System aims to significantly raise the number of college graduates by allowing adults with some college experience to work at their own pace, earn credit for what they already know, and pay reduced rates through partnerships with employers. In order to appeal to the nearly 700,000 Wisconsin adults with some postsecondary education credit, the UW Flexible Degree provides a more personalized, self-paced college experience and a shortened time to degree completion.

Foreign-born inventors and entrepreneurs play a vital role in the U.S. innovation economy, yet these individuals face many obstacles if they wish to remain in the country. Last year, more than three-quarters of all patents at the top ten patent-producing universities had at least one foreign-born inventor, according to report from the Partnership for a New American Economy. The report lays out several policy changes that could help the country retain more foreign-born innovators trained at U.S.

The Biotechnology Industry Organization (BIO) released a report on the significant economic impact of university and nonprofit institution patent licensing on the U.S. economy between 1996 and 2012. According to The Economic Contribution of University/Nonprofit Inventions in the United States: 1996-2010, the economic impact data related to patent licensing from university and nonprofit institutions indicated:

Betsy Biemann, who has served as president of the Maine Technology Institute since 2005 has resigned. Joe Migliaccio, manager of MTI's Business Innovation Program, is serving as interim president.

Indiana Gov. Mitch Daniels has been named the next president of Purdue University. Daniels will become the 12th president in Purdue's 143-year history in January at the end of his second term as governor.

Two bold proposals seeking to make big changes to community colleges in Massachusetts and New Jersey research universities recently were approved by lawmakers. In Massachusetts, more funding for the state's 15 community colleges is tied to increased oversight, performance measures and integration of workforce development initiatives. Meanwhile, New Jersey lawmakers passed a bill merging a medical and dentistry school with Rutgers University in hopes of strengthening partnerships for research projects and drawing more federal funding.

The Small Business Administration released a funding announcement for the Regional Innovation Cluster (RICs) Program. The SBA will announce up to seven RIC awards intended to 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 be set aside to support small businesses that provide cluster-related services. Proposals must be submitted by August 6, 2012.

There is still one week left to submit a proposal for SSTI's 2012 Excellence in TBED awards. Over the last five years, SSTI has recognized 26 initiatives for helping to strengthen U.S. competitiveness. This could be your year to join the ranks of TBED pioneers and innovators improving the landscape of our nation's economy. To apply, send us a five-page narrative describing your most successful efforts to build, transform or accelerate state and regional economies through science, technology and innovation.

Two of the Small Business Administration's (SBA) proposed changes to the federal SBIR/STTR programs have caught the attention of small business advocates and groups warning of loopholes in the language that they say could negatively impact U.S. companies and affect eligibility.

In 2011, European startups and other projects raised approximately €1.5 billion ($1.8 billion) through crowdfunding, according to a report from Nesta, an innovation focused foundation located in the United Kingdom. In The Venture Crowd, Nesta researchers found that a significant portion of those funds raised were by reward-based crowdfunding, where participants receive non-financial rewards in exchange for donating to a project. However, other crowdfunding models are growing rapidly including donation crowdfunding, crowdfunded lending and equity crowdfunding.

The White House recently released Capturing Domestic Competitive Advantage in Advanced Manufacturing, a blueprint intended to serve as a national framework for the sustainable resurgence in advanced manufacturing in the United States. The report was written by the Advanced Manufacturing Partnership (AMP) steering committee, a national public-private partnership formed by the Obama administration in 2011 to help increase public and private investments in advanced manufacturing and create high-paying manufacturing jobs.

Financial Industry Regulatory Authority (FINRA), the largest independent regulator of securities firms doing business in the United States, invites public comment on the appropriate scope of FINRA rules that should apply to firms engaging in equity crowdfunding activities, either as funding portals or as brokers. Under crowdfunding exemptions of the JOBS Act, intermediaries performing crowdfunding on behalf of entrepenuers and startups must register with the Securities and Exchange Commission (SEC) as a funding portal or broker.

While taxes and regulations comprise the basic framework for state competitiveness, ample opportunity exists for other strategic interventions that can create a vibrant, entrepreneurial state economy, according to a pair of reports released this week by the National Governors Association (NGA). The first report examines six factors that drive state competitiveness and the kinds of policies states use to encourage economic growth. A second report lays out 12 recommendations for state leaders, with examples from successful initiatives around the country.

Pennsylvania Gov. Tom Corbett has signed off on a series of bills intended to give state-owned universities more flexibility in working with regional businesses and creating new advanced degree programs. The bills are collectively known as the Higher Education Modernization Act and apply specifically to the Pennsylvania State System of Higher Education (PASSHE), which is the nation's tenth largest state university system, incorporating Pennsylvania's 14 state-owned institutions.

With veteran unemployment rates exceeding the already-high national unemployment rate, organizations and agencies around the country are seeking ways to plug veterans into the innovation economy. These efforts capitalize on the leadership skills and technical knowledge of military veterans by helping them become entrepreneurs. Operation Boots to Business is a new nationwide initiative, backed by the U.S. Small Business Administration (SBA), that will provide entrepreneurship training courses at military bases to help veterans transition into business ownership.

Although the economic ramifications of the recent global recession still remain, countries across the world have remained committed to supporting their innovation economies. Several initiatives across the globe highlight these efforts including the European Union (EU) announcing that it will commit significant funding to three innovation-focused programs and an economic development strategy in British Columbia, Canada, to support the province's technology sector and spur job creation.

The National Science Foundation (NSF) is soliciting proposals from institutions of higher education to join a network of Innovation Corps (I-Corps) regional nodes that will work cooperatively to establish, utilize and sustain a national innovation ecosystem that further enhances the development of technologies, products and processes that benefit society. NSF intends to commit approximately $2 million to establish four regional nodes that will be diverse in research areas, resources, tools, programs, capabilities, and in geographic locations.

In a fast-paced global economy, the workforce has to be nimble and easily adaptable to changing needs. The new workforce is being shaped by improvements in technology, cuts to higher education, and a new generation of workers who think differently about the labor market. Two emerging trends reshaping the high-tech workforce are the rise of highly-skilled independent contractors or "supertemps," and industry-sponsored boot-camp style training to quickly fill the specialized needs of employers.

A plan introduced last week by the president places the future of the nation's standing in math and science in the hands of highly-specialized teachers who would serve as national ambassadors and mentor fellow educators across the country. In exchange, STEM Master Teachers would receive an extra $20,000 per year on top of their annual salary. Funding for the initiative is part of the FY13 budget plan, which requires congressional approval.

Borealis Ventures and the New Hampshire Business Finance Authority recently announced the creation of the Borealis Venture Fund, an early stage venture capital fund that will support the states's high-tech startups. Borealis Ventures will manage the fund, which is being backed by $4.5 million through the federal State Small Business Credit Initiative. The firm plans to raise an additional $25.5 million from private investors.

Businesses that received Kentucky incentives reported creating 55,173 jobs between 2001 and 2010, according to a report from the Anderson Economic Group (AEG). In addition, each year approximately 33,000 jobs were maintained due to the incentives. In 2010, the gross cost to the commonwealth was $140 million and averaged $3,330 per job per year between 2001 and 2010.

An InfoBrief from the National Science Foundation's (NSF) provides a preview of the results of NSF's latest survey of R&D activities performed and funded by state government agencies in FY09. Though the InfoBrief is not a comprehensive guide to state R&D spending, the summary sheds some light on state research priorities. A total of $1.2 billion in spending was reported by state agencies, which also were asked about the type of R&D performed with those funds.

Caren Franzini, the CEO of the New Jersey Economic Development Authority, stepped down after leading the agency for 21 years. Michele Brown, Gov. Chris Christie's appointments counsel, will take over as CEO.

Tom Ridge, the first secretary of the U.S. Department of Homeland Security and a former governor of Pennsylvania, has been elected chairman of the State Science and Technology Institute's (SSTI) Board of Trustees. As chairman, Ridge will lead the board in providing strategic guidance and oversight of SSTI's operations as the group works to encourage economic growth through science, technology and innovation. "SSTI focuses on issues central to our nation's competitiveness," said Ridge.