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Last week, Premier Ed Stelmach of Alberta introduced a $170 million suite of initiatives to support high-tech economic development in the province. The government hopes that by providing support for commercialization from research to market it can attract high-tech entrepreneurs from other areas. Most of the province's investment will support the creation of the $100 million Alberta Enterprise Corporation to encourage venture capital investment.

An initiative in Iowa to disperse tax credits worth 20 percent of equity investments into pre-qualified businesses or seed capital funds has reached its $10 million cap and will not be continued in the next fiscal year. The Iowa Venture Capital Credit – Qualified Business or Seed Capital Fund was started in 2002 with a cap of $10 million, and as monitored by the Iowa Department of Revenue, all credits have been issued.
 

As annual appropriations for the National Institutes of Health (NIH) flattened – at the same time more and more states and universities are increasing their investments in academic bioscience research capacity – competition for NIH grants has heightened. Reports indicate investigators in the early stages of their careers and transformative research have been the victims of the squeeze.
 

New York City officials recently announced the launch of a $2 million seed fund to boost entrepreneurship and the local venture capital market. NYC Seed will provide up to $200,000 for seed-stage New York-based businesses and will offer mentoring and other support for client companies.

A jobs bill that garnered near unanimous support in both legislative chambers was signed into law by Gov. Jodi Rell last week. The bill includes pre-seed funding for innovative ideas, a program authorizing tax credits for insurers investing in many different types of businesses, including technology startups, student loan reimbursements to retain green collar workers, a small business loan pool, and a green manufacturing pilot program.

Fifteen communities across the U.S. recently were selected to implement health information technology (IT) infrastructure and servicing as part of an overall $100 billion federal investment in science, innovation and technology through the American Reinvestment and Recovery Act. These pilot communities will receive a total $220 million for projects that include providing better control of blood pressure for diabetic and hypertensive patients, improvements in care coordination and chronic disease management, and reductions in preventable emergency department visits and re-hospitalizations.

A coalition of twelve private foundations will contribute $506 million to support U.S. education innovation and reform efforts. A portion of the contribution will be designated to match funds from the U.S. Department of Education's Investing In Innovation Fund (i3), which offers grants to local agencies, nonprofits and school districts to support innovative education initiatives. Find out more about the fund ...

During the first year of the current U.S. recession, the bioscience industry continued to create jobs, according to a recent report from the Battelle Memorial Institute and the Biotechnology Industry Organization (BIO). While overall employment fell by 0.7 percent in 2008, U.S. bioscience employment grew 1.4 percent. Though the authors acknowledge that the full impact of the crisis was not felt until 2009 (for which employment data is not yet available), evidence indicates that biotech companies were not as negatively affected as other firms.

Kentucky Governor Steve Beshear will host a conference sponsored by the Southern Technology Council exploring changing consumer demands and global competitions in the Southern automotive industry. The conference, titled Driving the Next 20 Years: Creating the New Automotive Industry in the South, will feature speakers from Toyota, Ford, Daimer and Nissan and panel discussions on auto R&D, site location and supporting the industry. The event will be held June 7-8 in Lexington, KY. Read more about the conference ...

A nationally recognized nonprofit organization creating economic transformation in Northeast Ohio, JumpStart Inc. provides resources to entrepreneurs leading high potential, early-stage companies. JumpStart CEO Ray Leach discusses how the organization has successfully partnered with regional organizations and philanthropic institutions to achieve its tremendous success. Download the interview ...

Automation Alley in Troy, MI is seeking a business accelerator client coordinator. Some of the responsibilities include managing business accelerator client process from intake to referral and ongoing client support, coordinating with shared services for administrative functions and maintaining accurate SalesForce information for all clients.

On June 5, 2008, the government of the Grand Duchy of Luxembourg announced plans for a $200 million five-year molecular medicine initiative that draws on a strategic partnership involving three Luxembourg Public Research Centers (CRPs), the University of Luxembourg and three U.S. research institutes prominent in the field.
 
The U.S. research institutions include:

• Translational Genomics Research Institute (TGen) in Phoenix, led by Dr. Jeffrey Trent;

Florida lawmakers last week approved SB 1752, a package of economic development incentives for industry sectors, including aerospace and small business, to promote immediate job creation and long-term economic growth. Funding for research commercialization matching grants and space industry business development are among the new incentives.

A group of Massachusetts CEOs, venture capitalists (VC) and entrepreneurs recently launched a new initiative to create new, successful companies. The 12x12 Initiative will allow successful CEOs to collaborate with entrepreneurs to develop their ideas into new businesses. The resulting "team" also would include an experienced VC and would help the companies connect to mentoring services, capital and other opportunities.

Having the tools and resources to develop innovative concepts and products and move discoveries from the lab to the marketplace is an essential component for building tech-based economies. Research parks, a place where innovative ideas are borne, partnerships between university and industry are created, and companies grow and create new jobs, provide a foundation for the kind of economic growth necessary to compete in a global economy. Over the past few months, development plans and groundbreaking announcements from research parks across the nation have been made.

Jeff Blodgett, Vice President of Research, at the Connecticut Economic Resource Center, Inc. is retiring.

The University of Virginia has named W. Mark Crowell, vice president for business development at The Scripps Research Institute, to the newly created position of executive director and associate vice president for innovation partnerships and commercialization.

Legislators in Alabama, South Carolina and Tennessee recently approved spending plans for the upcoming fiscal year. Highlights of appropriations supporting TBED are included below.
 
Alabama