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BioFlorida named Diana Robinson as its new president.
Florida Budget Requests $60M for TBED Initiatives
The 2005 budget request submitted this week by Florida Governor Jeb Bush includes $20 million to establish two more Centers of Excellence at Florida universities.
Florida Enters Biotech Race with $510M Scripps Inducement
With a $310 million commitment passed by the state legislature and as much as $200 million in additional support from the county government, the California-based Scripps Research Institute has agreed to locate its first branch or satellite office in northwest Palm Beach County, Fla. In return for the financial support, Scripps is to work toward employing as many as 545 workers on the site by 2011.
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The Florida Venture Forum named Robin Kovaleski as the first executive director for the organization.
Recent VC Developments in the States…
The availability and use of equity capital for early-stage investments varies greatly across the country. Seen as an integral component of most tech-based economic development, access to venture capital (VC) is on the agendas of several states — but several different approaches are used to address the problem. Recent announcements in four states illustrate the point:
Pennsylvania to Support Clean Energy Tech with New Fund
Breaking new technologies into traditional markets can be challenging, particularly in the energy field it seems. To help overcome that hurdle, the State of Pennsylvania has undertaken a $5 million initiative to help finance the implementation of clean and renewable energy technologies such as biomass and wind power.
Greater Philadelphia Acquires Road Map to Build Innovation Economy
Innovation Philadelphia, a public-private partnership, the Greater Philadelphia Chamber of Commerce, and the city of Philadelphia have developed a road map that identifies the future drivers of the Greater Philadelphia economy and provides a framework for developing these drivers.
Florida Selects Three Centers of Excellence
To help build the state's technology sectors, Governor Jeb Bush and the State Board of Education have selected Florida's first three Centers of Excellence. The Centers are designed to foster innovative, cutting-edge technology research at Florida’s colleges and universities, develop commercially viable applications for that research, and recruit high-tech industries and thinkers to the state.
The three projects are:
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Ed Linsenmeyer, with the Naval Surface Warfare Center, has been elected to serve as the Chair of the Federal Laboratories Consortium for Technology Transfer at the FLC's recent annual meeting. Larry Dickens, with the Oak Ridge National Laboratory, was elected Vice Chair.
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Dr. Donald Smith has been named interim chief executive officer of the Pittsburgh Life Sciences Greenhouse.
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Dennis Yablonsky, chief executive officer for the Pittsburgh Life Sciences Greenhouse, is Governor Ed Rendell's pick to serve as Secretary of the Department of Community and Economic Development.
Ben Franklin Technology Partners Create Funding Vehicle to Aid Growth of Companies
Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP), an independent nonprofit economic development organization, has announced the Commonwealth of Pennsylvania's $2 million commitment to establish the Ben Franklin Investment Partners venture guarantee revolving fund. The fund is the first such development financing vehicle of its kind in the U.S.
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Tom Wallace has stepped down as president of the Tampa Bay Technology Forum.
Tobacco Settlement Board Commits Up to $20M for Life Sciences in Pa.
Pennsylvania's Tobacco Settlement Investment Board (TSIB) recently approved a commitment of up to $20 million to Birchmere Ventures III LP to invest in life sciences companies based in Pennsylvania. Birchmere Ventures III, a new fund jointly formed by Pittsburgh-based Birchmere Ventures and San Francisco-based Bay City Capital, will raise up to $150 million.
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Dr. Doros Platika is the new chief executive officer of the Pittsburgh Life Sciences Greenhouse.
Florida Governor Requests $630M for TBED, Other ED
With state revenues posting a surplus, Florida Gov. Jeb Bush used his 2006-07 budget proposal to make his largest request yet to support efforts to diversify the state's economy through technology-based economic development (TBED). In total, the budget provides $630 million for several new research-focused initiatives, business recruitment funds, and other economic development programs.
Pennsylvania Gov: $500M for Bioscience Research Initiative
Pennsylvania Gov. Ed Rendell is set to release his fiscal year 2006-07 budget request later this week, which is expected to significantly redesign the state's investment in biotechnology and life science research, according to materials released by the governor's office.
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Dr. Melvyn Schiavelli, senior program officer for the Harrisburg Polytechnic Development Corporation, has been named acting president and CEO, succeeding Dr. Charles Clevenger.
POWER to Stem Brain Drain in Northeastern PA
Many areas of the country are experiencing a brain drain, an outmigration of recent college graduates leading to a decline in the available labor pool of entry level workers, young entrepreneurs and future civic leaders. A new initiative, however, hopes to reverse that trend in Northeastern Pennsylvania by strengthening the social, networking and professional relationships among young skilled workers in the Wilkes-Barre region.
People
Secretary of the Pennsylvania Department of Community and Economic Development for the past five-and-a-half years, Sam McCullough is resigning effective October 25.
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Ray Gilley, president of Metro Orlando Economic Development Commission, has been appointed chairman of Workforce Florida.
GPF, Science Center Team Up to Help Entrepreneurs
Greater Philadelphia First (GPF) and the Science Center, a consortium of 34 regional academic and scientific institutions, have established a major new joint initiative designed to make it easier for science and technology entrepreneurs to start, grow and expand their businesses. Modeled on UCSD CONNECT in San Diego, CONNECT Greater Philadelphia will assist entrepreneurs by linking them with needed business, academic and other resources.
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The Ben Franklin Technology PArtners of Central and Northern Pennsylvania promoted Stephen Brawley to serve as president and CEO.
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Alan Brown was named executive director of the Pennsylvania NanoMaterials Commercialization Center, a newly formed economic development initiative.
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BioFlorida President Diana Robinson is leaving to join a private venture capital company once her replacement is selected.