People
John S. Maxson has been named as the new president of The Illinois Coalition. Mr. Maxson fills the position vacated by Shaye Mandle earlier this spring.
People
The Illinois Innovation Initiative has named Jerry Mitchell to serve as commercialization manager. Mr. Mitchell is also president of the Midwest Entrepreneurs Forum.
Illinois Creates $60 Million Tech VC Fund
The Illinois General Assembly has passed legislation to encourage venture capital investment in technology businesses across the state. HB3212 creates the Technology Development Fund, which permits the State Treasurer to use up to 1 percent of the state's total investment portfolio for equity investments through Illinois venture capital firms.
CDVCA, NASVF, STC Offer Free E-newsletters
Two venture capital associations and the Southern Technology Council are offering free electronic newsletters to the general public that may be of interest to SSTI Weekly Digest readers. Occasionally stories offered in these publications overlap with Digest articles, however, each provides additional information and perspectives for the S&T community.
NGA Releases Third New Economy Paper
The National Governors' Association has released its third paper in the New Economy Series. Nurturing Entrepreneurial Growth in the New Economy, written by Thom Rubel and Scott Palladino, outlines eleven different approaches states have implemented to encourage entrepreneurship:
People
The NanoBusiness Alliance has named Sean Murdock to serve as its new executive director.
People
John Dougherty resigned his position with the Illinois Coalition to accept a job in the private sector.
People & Organizations
Effective in May, Ken Janoski will be the president and CEO of BioGenerator, a nonprofit in St. Louis that helps scientists commercialize their discoveries.
$16.5M PROPOSED FOR ILLINOIS S&T PROGRAMS
In his first budget address, Illinois Governor George Ryan outlined a series of initiatives which would catapult Illinois into the top tier of states for technology-based economic development spending. Coupled with the $3-million-plus technology initiative announced earlier this year by Chicago Mayor Richard Daley, Illinois S&T investments could grow to $20 million annually, a threshold only six other states have crossed and maintained: Georgia, New York, North Carolina, Ohio, Pennsylvania, and Texas.
MISSOURI ONE STEP CLOSER TO $40 MILLION SEED FUND
Investment capital to develop and commercialize new technologies may soon be easier to find in Missouri. The Commerce Committee of the Missouri House of Representatives last week endorsed House Bill 753, a proposal to create a $40 million seed capital fund supported by Governor Mel Carnahan. The fund would be capitalized at $10 million each year for four years. Additionally, private investors would get a 100-percent tax credit for all money they contributed to the new seed capital fund.
CHICAGO UNVEILS TECHNOLOGY INITIATIVES
On Monday, Chicago Mayor Richard Daley announced a series of initiatives to promote technology development for the city, including an information technology incubator, formation of a Mayor’s Council of Technology Advisors, and a Civic Network to support capacity needs for Internet commerce by Chicago businesses.
CALENDAR OF EVENTS
November 17, 1998
The National Association of Seed Venture Funds is sponsoring a seminar entitled "Seed Investing as a Team Sport" to be held in Des Moines. The purpose of the seminar is to expand the attendees' understanding of business investing, help locate a team of like-minded investors in the region, and provide new tools to help optimize investment dollars. For more information, visit NASVF's website at http://www.nasvf.org
People
Dennis Cheek is vice president of education with the Kauffman Foundation.
People
Tom Thornton is resigning his position as President of the Illinois Coalition to join a Midwest Venture Capital firm.
Missouri Launches $20 Million State Seed Capital Program
This year’s second attempt to pass legislation establishing a state-funded seed capital program in Missouri was successful during the waning hours of the 1999 session of the Missouri General Assembly. SB 518, the Missouri New Enterprise Creation Act, authorizes the creation of up to four seed capital funds at the state’s innovation centers to support new technology-based companies in the state.
People
Cary Nourie has been named Vice President of Policy and Planning for the Illinois Coalition; he previously was with the North Carolina Governor's Washington Office.
$1.9 Billion Illinois VentureTech Proposed
As part of his FY 2001 budget request, Illinois Governor George Ryan announced a five-year, $1.9 billion package of technology-related initiatives intended to put Illinois in a leadership position among states in science and technology. Illinois VentureTech includes several education and computer technology acquisition programs and the following S&T and research-related initiatives:
Best Practices for Biotech Assistance to be Explored
Cincinnati and St. Louis are partnering to hold a three-day symposium to examine best practices in biotechnology-based economic development. Growing the Life Science Industry will be held March 1-3 at the Kingsgate Conference Center on the University of Cincinnati Medical Campus. Speakers from a dozen states will share their regions' approaches for life science economic development.
People
Shaye Mandle is the new President of the Illinois Coalition.
Coleman Foundation Offers Entrepreneurship Grants
The Coleman Foundation has allocated up to $1,000,000 for this year's Entrepreneurship Awareness and Education Grant program. The program will award a one-time grant of up to $25,000 to any university, college, community college or community-based nonprofit organization to establish or significantly expand an entrepreneurship initiative that focuses on any of the following areas:
Illinois 1997 High Tech Yearbook Released
The Illinois 1997 High Tech Yearbook is a first-ever annual report documenting the people, organizations and infrastructure driving the high technology industry in Illinois. The report was recently released by the Illinois Coalition and KPMG Peat Marwick, in cooperation with the State of Illinois and the City of Chicago.
The Yearbook is the latest addition to a growing number of states or regions that are developing technology indexes.
Legislative Actions & Tech Talkin' Govs 2006, Part III
Northwestern University Seeks Associate Vice President for Strategic Initiatives
Northwestern University invites nominations and applications for the new position of Associate Vice President for Strategic Initiatives. The person who fills this position will develop and implement initiatives that will enhance the University=s research enterprise.
Reporting to the Vice President for Research and Graduate Studies, the Associate VP will:
People & Organizations
James DeLong is the new vice president of the St. Louis Regional Chamber and Growth Association.
People & Organizations
Rob Monsees left his position as Gov. Matt Blunt's deputy chief of staff-policy to become the executive director of the Missouri Technology Corporation.