North Carolina to Start Statewide Micro Angel Fund
North Carolina does not, at first glance, seem to be a venture capital underperformer. In 2006, venture capitalists invested close to $510 million in North Carolina, almost $60 million of which was invested in seed and early-stage businesses, according to the Pricewaterhouse Coopers Moneytree Survey of VC investment. However, while the state ranks 12th in seed/early-stage investment, many in the state perceive the lack of seed funding to be a major obstacle to economic growth.
People & TBED Organizations
E. Norris Tolson is officially the president and CEO of the North Carolina Biotechnology Center, having served as interim CEO since January.
North Carolina Lawmakers Fund Major Research, Education, TBED Initiatives
After running on a month-long stopgap budget, North Carolina lawmakers reached a $20.7 billion budget agreement for fiscal year 2007-08 earlier this week that includes funding for major research initiatives, public and higher education, and TBED-related items.
People & TBED Organizations
Tom Clarkson is the new chief executive officer of Wake Forest University's Babcock Demon incubator. Clarkson replaces Paul Briggs, who retired.
People & TBED Organizations
Joan Myers resigned as president and chief executive of the North Carolina Technology Association to join the global public policy division at a local software company. Myers' resignation is effective Aug. 21.
Budget Outcomes Unveiled in Several Western States
Bills have been passed and budgets approved with the close of several 2007 legislative sessions in the western states. The below article is part of the Digest's continuing coverage of the legislative outcomes of some of what governors proposed in their State of the State and budget addresses (see SSTI’s Tech Talkin’ Govs Series in the Jan. 8, Jan.
People & TBED Organizations
Ryne Johnson was named the new director of the Center for Entrepreneurship at Chico State University.
People & TBED Organizations
The Idaho communities of Greenleaf, Homedale, Grand View, Marsing, Melba, Parma and Wilder have formed the Western Alliance for Economic Development.
Colorado Governor Unveils Climate Action Plan
In support of his New Energy Economy Initiative, Gov. Bill Ritter introduced last week a statewide action plan to expand renewable energy opportunities and reduce the impact of climate change.
SSTI Job Corner
Complete descriptions of the position openings described below are available at http://www.ssti.org/posting.htm.
Index Reveals South Lags Overall U.S. Workforce
As low-skill, labor intensive jobs are increasingly replaced by technology or outsourced in the emerging knowledge-based economy, a two-tiered labor market has emerged, thus presenting a challenge for workers to either work cheaper or work smarter, says a new report from the Southern Growth Policies Board. Only one of those options is appealing for those trying to improve your standard of living.
People
Diane Duff, former director of economic development and commerce for the National Governors Association, is the new executive director of the Southern Governors' Association.
SBA Releases Regional Entrepreneurship Index
Glenwood Springs, Colo., is the nation’s most entrepreneurial region, according to a study recently released by the U.S. Small Business Administration's Office of Advocacy and the Edward Lowe Foundation. The region's ranking is based on the Regional Entrepreneurship Index, a measure intended to standardize assessment of entrepreneurship within and across regions.
TBED Efforts to Double Size of Western Carolina University
Western Carolina University (WCU) Chancellor John Bardo recently unveiled plans for a comprehensive regional economic development strategy that would more than double the size of the campus and promote university-industry partnerships.
Useful Stats: Change in Per Capita Income by State: 1999-2004
The U.S. Bureau of Economic Analysis (BEA) recently released its preliminary 2004 figures for per capita income, revealing average income received by persons grew by 4.7 percent between 2003 and 2004. The change in income was not evenly distributed across the country.
North Carolina Unveils Plans for Defense Related Business Incubator
The rapid increase in federal spending for defense and homeland security has led a number of states to establish initiatives targeting potential economic development from these activities. North Carolina becomes the latest of those states, with its proposed Defense Technology Innovation Center.
People
Joan Myers, president and CEO of Raleigh-based N.C. Technology Association, is the 2005-2007 president for the Council of Regional Information Technology Associations (CRITA).
People
Ronnie Bryant, president and chief operating officer for the Pittsburgh Regional Alliance, is leaving to become president and CEO of the 16-county Charlotte Regional Partnership in North Carolina.
The Up and Down of CAPCO Programs
One starts up. Another bites the dust. The Certified Capital Company (CAPCO) Program, a complicated and controversial tool used by some states to encourage venture capital investments, finds its beginnings in one region while seeing its demise in yet another.
Task Force Created to Attract VC to Southern Region
The South represents 20 percent of the nation's economic activity but attracts only 9 percent of the total U.S. venture capital invested. In an effort to bring those numbers closer together, the Southern Growth Policies Board recently announced the creation of a multi-state task force dubbed VentureSouth. Virginia Gov.
Southern Growth Outlines Steps to Rural Prosperity
Building high-quality communities is the underpinning of long-term economic development, suggests new Southern Growth Policies Board research.
People
The Greensboro, N.C.-based Nussbaum Center for Entrepreneurship has a new president, Michael Hentschel.
People
Dan Lynch was named president of the Greensboro Economic Development Partnership.
Tech Agenda, Billion Dollar Green Bank Top NY Gov's Economic Growth Plan
Innovation was a key term used in Gov. Andrew Cuomo's State of the State address and is referenced heavily throughout his economic development agenda for the upcoming year. The governor proposed creating innovation hot spots, an innovation network and innovation venture capital fund. Efforts would be focused on accelerating technology transfer and providing funds to attract startup companies. Cleantech investments and support for competitive university-based projects that emphasize economic impact also are a priority for the governor.