Business incubators, known for the business support services they provide entrepreneurs, have shown themselves through the years to be a valuable resource in the process of starting and growing companies. Office and laboratory space provided at a reduced cost to tenants is just one of the benefits. Many incubators also offer access to university research, mentoring and seed and venture capital in order to encourage entrepreneurship and ensure the success of new high-technology start-up companies.

While many parts of the country are looking for innovative means to increase the number of citizens and businesses connected to high-speed Internet in both urban and rural areas, two governors recently announced initiatives targeting the further extension of broadband services throughout their states.

Against the backdrop of BIO’s annual meeting, held this week in Boston, Gov. Deval Patrick unveiled a comprehensive, collaborative Massachusetts Life Science Strategy. The plan includes a 10-year, $1 billion investment package to support biomedical and stem cell research.

Massachusetts Gov. Mitt Romney promoted Renee Fry to serve as director of the Department of Business and Technology, the state agency tasked with retaining and attracting jobs and steering economic policy throughout the Commonwealth.

Sometimes a little money is all that may be required to discover that an innovation in the lab is worth millions in the marketplace. At least that's the goal of a small grant program launched this afternoon by the Massachusetts Technology Transfer Center (MTTC). The MTTC Tech Commercialization Awards will provide $5,000 mini-grants for technology assessments and investigations by academic and industrial researchers within the Commonwealth.

The National Institutes of Health (NIH) data on the top 100 cities for NIH awards in FY 2003 indicates Boston reasserted its leadership over New York for the top spot by increasing its spread by $401 million. Philadelphia and Baltimore remain in third and fourth place for the second year.

Jeff Brancato has been named Associate Vice President for Economic Development of University of Massachusetts.

Alaska Gov. Frank Murkowski appointed Bill Noll as commissioner of the Department of Commerce, Community, and Economic Development. Noll has been serving as the governor's communications director.

Albert Clough is the new Commissioner of the Alaska Department of Commerce, Community and Economic Development, following the resignation of Edgar Blatchford last week.

As expected, Massachusetts Gov. Mitt Romney rejected last week Senate Bill 2039, the bill supporting stem cell research. Exercising a power not enjoyed by all governors, Gov. Romney sent the measure back to the legislature with four amendments for consideration, rather than vetoing the measure.

Former Massachusetts State Senator Peter Larkin is the senior vice president and chief operating officer for the Massachusetts Biotechnology Council.

The challenge for industry, academic leaders and policymakers in Massachusetts over the next few years is to translate the competitive strengths of the state's economy into new companies and new jobs, the ninth annual Index of the Massachusetts Innovation Economy indicates.

The Information Technology and Innovation Foundation (ITIF) released the sixth edition of its bi-annual State New Economy Index last month. The report uses 26 indicators to assess the progress states have made adjusting to the realities of the innovation economy. Massachusetts lead in the rankings, as it has since the lauch of the index, while Delaware rose four ranks since 2010 to occupy second place. Read The 2012 State New Economy Index...

Recent research on the evolving role of universities finds the emergence of an entrepreneurial society has contributed to a broader and more fundamental role for universities — that is to provide thinking, leadership and activity to enhance entrepreneurship capital. University-based entrepreneurship programs and initiatives seem to have gained steam following the recession with federal support for programs to enhance entrepreneurial efforts in states and regions and increased interest from students and out-of-work individuals.

Chris Coburn, the founding executive director of Cleveland Clinic Innovations, is leaving at the end of May to join Boston-based Partners Healthcare, the largest healthcare system in Massachusetts.

Mary Jo White has been confirmed by the Senate as the new head of the Securities and Exchange Commission.

In 2012, Big Data has become one of the hottest topics in the news and the minds of both government and business leaders. Big Data is the collection and analysis of data that is too big, growing too fast or is too complex for existing information technology systems to handle.

While election night's main focus was on the presidential race, the importance of ballot measures for states and metros is growing as public services and budgets are being severely trimmed. A recent article in The New Republic reports on a new trend where states are embracing ballot measures as a potential source of dedicated funds for targeted investments in regional economic growth and development.

Amid the economic uncertainty surrounding fiscal cliff negotiations, and what it means for states, some governors are erring on the side of caution when it comes to funding recommendations for the upcoming year. At the same time, several state budget officers are projecting significant revenue shortfalls in the current fiscal year or biennium as a result of lower than expected tax collections.

The five-campus University of Massachusetts System is seeking a dynamic and entrepreneurial professional to become the associate vice president for economic development to help develop the university's role in generating innovation and talent to support the Innovation Economy of Massachusetts. The position will report to the vice president for economic development and be housed at the president's office in Boston, MA.

A newly established policy academy providing guidance and technical assistance will help seven states improve their environment for innovation and align state R&D investments, workforce development and education systems with current and future needs of advanced manufacturing industries. The policy academy will help each state develop a plan or overcome barriers for putting a plan into action through a highly interactive team-based process that includes input from NGA, MEP, EDA, SSTI, private sector consultants, and research organizations.

TBED organizations in Massachusetts and Rhode Island recently published comprehensive reviews of their respective state innovation economies. Both studies employ metrics of the general economy, as well as indicators of STEM education, research, venture investment and technology industry activity. They also use data from other state economies to track their progress in creating a vibrant and sustainable innovation ecosystem. The reports provide a useful set of innovation metrics that can be applied in other regions.

Massachusetts

With increasing pressures from state and local policymakers to show a return on investment, universities and colleges across the country are stepping up their efforts to transform innovative ideas into ready-for-market products and develop a new generation of entrepreneurs that will spur regional and state economic growth.