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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.

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.

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:

U.S. venture capital investment hit $48.3 billion in 2014, its highest level since 2000, according to data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC). Investments jumped 61 percent over the previous year in terms of dollars. Deals were up as well, but by a more modest 4 percent to 4,356 deals in 2014, indicating the growth of deal size and the presence of a number of “megadeals.” NVCA also noted that investments were dispersed throughout the country, with 160 U.S. metros receiving some venture capital.

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 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:

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.

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 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.

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.

Over the past decade stem cell research has been touted as a game-changer in the life sciences and a potential fount of new biomedical innovations. As a result, several states have launched targeted programs to support stem cell research, despite the controversy that tends to surround the field. New research suggests that these programs have been effective at increasing the output of researchers in their respective states.

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

Underrepresented minorities' share of  Science and Engineering (S&E) bachelor's and master's degrees has been rising since 1993, but their share of doctorates in these fields has flattened at about 7 percent from 2002 to 2012, according to the National Science Foundation’s (NSF) Women, Minorities, and Persons with Disabilities in Science and Engineering: 2015 report.

Following the massive uptick in venture capital activity last year, California has solidified its place as the epicenter of investment activity, according to data from PricewaterhouseCoopers (PwC) and the National Venture Capital Association (NVCA). Since the beginnings of the industry, Silicon Valley has dominated the venture capital landscape. Due to California's large overall population and economy, however, Massachusetts has outperformed the state in terms of per capita investment and venture dollars as a share of state GDP.

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.

The U.S. Department of Energy (DOE) announced the launch of the Office of Technology Transitions (OTT) to serve as a DOE-wide functional unit that coordinates the commercial development of DOE’s research outputs and administer the Energy Technology Commercialization Fund – a nearly $20 million fund that will leverage the R&D funding in the applied energy programs to pursue high-impact commercialization activities.

The U.S. is home to more than 28.4 million small businesses (less than 500 employees), employing over 56 million workers (approximately half of the nation’s workforce), according to a recently released a report entitled Small Business Profiles for the States and Territories, an annual analysis of each state’s small businesses.