Enterprise Florida released its latest five-year strategic plan for the state, calling for increased investment in STEM education, university research, commercialization assistance and early-stage capital access programs. Florida must diversify its economy and strengthen its high-tech industries in order to reduce the state’s reliance on population-based growth, according to the report. Enterprise Florida also endorses a cluster-based strategy to promote high-tech industries based on their relative levels of development in the state.

Replenishing the Innovation Incentive Fund and investing in space industry, public research, and green energy technologies are among Gov. Charlie Crist's FY11 budget recommendations to grow the state's innovation economy and establish Florida as a pre-eminent global hub. The governor's budget includes $100 million for the Innovation Incentive Fund, which was established in 2006 to attract R&D companies and create high-wage jobs. The fund was depleted in 2008 (see the May 7, 2008 issue of the Digest).

Sandy Baruah has been selected to become the president and CEO of the Detroit Regional Chamber, effective March 15.

John Collar, the chief executive officer and president of the Colorado BioScience Association, resigned this week to pursue other business opportunities. Denise Brown has been selected serve as the organization's interim executive director while a search is conducted for Collar's replacement.

A plan to provide loans and specialized training to foster entrepreneurship recently was announced by Gov. Jennifer Granholm. The two-pronged, $43 million strategy consists of a loan partnership between credit unions and Michigan Small Business and Technology Development Centers with specialized training provided through the Michigan Economic Development Corporation's FastTrac NewVenture Program.

Florida's efforts to boost it's biotechnology sector may not be paying off as quickly as originally hoped. A recent report finds that the $449 million invested through the Innovation Incentive Program has yet to result in industry growth in counties where the program's grantees have their facilities. The report, published by the Florida Office of Program Policy Analysis and Government Accountability (OPPAGA), suggests that the state's lack of early-stage capital for biotech startups may be contributing to the sluggish pace of development.

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.

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.

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.

SSTI's interview with Peggy Shults of the James and Esther King Biomedical Research program, 2009 recipient of the Excellence in TBED Award in the category Expanding the Research Infrastructure, provides an honest, in-depth account of best practices and lessons learned that earned this program national recognition. Click here to listen to the interview and learn more about the program.

The fourth installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Alaska, Connecticut, Maryland, Michigan, Nevada, and Oklahoma. The first three installments are available in the Jan 13, Jan. 20 and Jan. 27 Digests.

Last year, U.S. venture capitalists invested about $10.7 billion in seed and early stage companies, 17.1 percent higher than 2012, according to data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC) Moneytree survey.  Though the overall venture capital (VC) market has returned to about the same level of activity as before the economic crisis, investment in seed and early stage companies has grown by more than a third.

Robbie Melton has been named the executive director and CEO of the High Technology Development Corporation.

Gov. Bobby Jindal has appointed Louisiana Tech University president Les Guice to chair the Louisiana Innovation Council.

Having world-class facilities to train workers or support research in fields most likely to benefit the state is a draw for many reasons. Attracting outside investment, retaining talent and generating buzz are just a few of the benefits. Last year, Connecticut lawmakers dedicated more than $2 billion to expand science and technology education on the campuses of the University of Connecticut, including construction of new STEM facilities and for building research and teaching labs. Michigan Gov. Rick Snyder is the latest state leader to announce funding proposals aimed at either constructing new facilities or making capital improvements for training students in high-wage, high-demand fields. Similar announcements were made earlier this year in Florida, Georgia, Rhode Island and Wyoming.

In the U.S. there is strong bi-partisan consensus that immigration is a key driver for entrepreneurship and regional competitiveness.  With federal immigration reform essentially shelved for 2014, cities and states are searching for their own solutions to attract and retain high-skilled immigrants. Proposals by Michigan Gov. Rick Snyder and other policymakers represent new approaches to immigration reform that can support local entrepreneurship and regional economic development.

The latest Department of Defense-led manufacturing innovation institutes will support cutting-edge research and product development in lightweight and modern metals and digital manufacturing and design. A consortium of 73 companies, nonprofits and universities will help launch the Chicago-based institute. The Detroit-area based consortium involves 60 partners.

Between FY2007-12, research and development (R&D) spending at U.S. universities grew 27.5 percent, from about $51.6 billion to $65.8 billion, according to the latest edition of the National Science Foundation’s (NSF) Higher Education Research and Development (HERD) survey. The survey provides a look at R&D spending at U.S. universities, with data broken down by state, institution, research area and funding sources.

Florida Gov. Rick Scott recently provided details on his $80 million plan to bolster cancer research and treatment in the state. Of that amount, $60 million would be aimed at building a statewide network of federally designated National Cancer Institute centers, while the remaining $20 million would support peer-reviewed research grants. Currently, Florida only has one National Cancer Institute center, the Moffitt Cancer Center in Tampa. Gov. Scott’s effort would help centers in Orlando, Miami and possibly other parts of the state, upgrade their programs to pursue the designation.

Angel capital has long played a vital role in state and regional innovation economies, but recent trends in investment capital have pushed angel investment to the fore. As the supply of seed stage venture capital declines in many parts of the country, angels have stepped in to bridge early stage funding gaps for technology startups. Many states have stepped up their efforts to attract and incentivize angel investment. Recent initiatives in Minnesota, Florida, Kentucky and West Virginia seek to book seed and early stage capital by working with angel investors.

Crowdfunding was poised to make a major splash on startup financing in 2013, aided by the passage of the 2012 JOBS Act, a projected explosion in the number of crowdfunding portals and the adoption of state crowdfunding exemptions. However, the crowdfunding industry did not have the anticipated gamechanging impact on startup financing.

Michigan’s University Research Corridor (URC), an alliance between the state’s three largest higher education institutions, leads its peer clusters in generating high-tech talent and ranks second overall in innovation activity, according to a report commissioned by URC.

The third installment of SSTI’s Tech Talkin’ Govs series includes excerpts from speeches delivered in Delaware, Michigan, Missouri and New Mexico.