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Displaying 426 - 450 of 527
Authored on

MD, SC Boost Defense Industry Support in Budgets; TBED Proposals Released in AZ, MO

Thursday, January 21, 2016

Many governors around the country have begun laying out priorities for the next legislative session. In the coming weeks, SSTI will review gubernatorial addresses and budget proposals related to economic development. This week, we highlight developments in Arizona, Maryland, Missouri and South Carolina.

  • Read more about MD, SC Boost Defense Industry Support in Budgets; TBED Proposals Released in AZ, MO

MD Approves Budget, University Unification Plan to Boost Baltimore Innovation Economy

Thursday, April 14, 2016

Maryland legislators recently approved a $42.3 billion fiscal year 2017 spending bill that incorporates many of the funding levels included in Gov. Larry Hogan’s proposal. Gov. Hogan made education a main focus of his proposal, and the final bill would hold university tuition increases to no more than 2 percent. In addition, legislators formalized the growing strategic partnership between University of Maryland campuses in Baltimore and College Park.

  • Read more about MD Approves Budget, University Unification Plan to Boost Baltimore Innovation Economy

New Developments in Capital: Strong Results Announced, New Funds Created

Thursday, April 21, 2016

In the last month, major new developments have occurred in TBED capital programs. Launch Tennessee and Pittsburgh-based Innovation Works both announced positive findings about the growth of their startup investment ecosystems with $1 billion being raised by Tennessee startups from 2012 to early 2016 and over $279 million invested in Pittsburgh startups in 2015. Meanwhile in Ohio, both Youngstown-based and Cincy-based startups will see an influx of capital, while a new $150 million fund focused on stem cell companies and regions has been launched.

  • Read more about New Developments in Capital: Strong Results Announced, New Funds Created

Budget Passes in PA, but Debate Continues; FY17 Spending Approved in AL, FL, ID, NM

Thursday, March 31, 2016

Many states across the country already have, or will soon have, signed budgets ready for the 2017 fiscal year.  Over the past few months, SSTI has examined gubernatorial addresses and proposed budgets for a preview of technology-based economic development spending in the coming year. This week, we take a look at what initiatives and spending levels survived spending negotiations in Alabama, Florida, Idaho and New Mexico, as well as an update on the budget situation in Pennsylvania.

  • Read more about Budget Passes in PA, but Debate Continues; FY17 Spending Approved in AL, FL, ID, NM

“Recoupling” Manufacturing and Innovation

Thursday, August 7, 2014

Between 2000 and 2010, about one-third of U.S. manufacturing employment – approximately five million jobs – were lost as a result of new technologies in the manufacturing process or competition from abroad, according to The Brookings Institution.

  • Read more about “Recoupling” Manufacturing and Innovation

TEDCO Announces State-Backed Investment Fund for Cybersecurity Companies

Thursday, September 4, 2014

The Maryland Technology Development Corporation (TEDCO) announced that it received state-backing for its Cybersecurity Investment Fund (CIF) – a fund that helps companies across the state develop and commercialize new cybersecurity products. TEDCO will make investments of up to $100,000 to help companies achieve early technical milestones that are critical to the commercialization process.

  • Read more about TEDCO Announces State-Backed Investment Fund for Cybersecurity Companies

PA One Step Closer to Budget Deal; HI, NM, VA Govs Outline Spending Plans

Thursday, January 7, 2016

While many states have begun negotiations on budget plans for FY17 and beyond, Pennsylvania has made some progress on FY16 spending. Gov. Tom Wolf signed a partial budget that funded many agencies and programs related to economic development, but that did not include higher education funding and other operations. In the coming months, SSTI will review gubernatorial addresses and budget proposals related to economic development. This week, we highlight developments in Hawaii, New Mexico, Pennsylvania and Virginia.

  • Read more about PA One Step Closer to Budget Deal; HI, NM, VA Govs Outline Spending Plans

Universities Build Diverse Partnerships to Fund Startups

Thursday, December 3, 2015

In the face of declining state funding and drawn-out budget negotiations, universities are moving beyond traditional budget procedures to secure funding for their economic development activities. Over the past few months, several universities have leveraged new sources of public and private funds to establish seed funds for university technology. These efforts are intended to increase the number of businesses emerging from their respective educational and research programs and spur regional economic prosperity.

  • Read more about Universities Build Diverse Partnerships to Fund Startups

MN Adopts Equity Crowdfunding; MD Organizations Announce Partnership Crowdfunding Portal

Thursday, July 9, 2015

Last month, Minnesota Gov. Mark Dayton signed the MNVest bill – an intrastate securities exemption that allows Minnesota-based companies and entrepreneurs to raise money through equity crowdfunding. To qualify for the exemption, businesses must show evidence of several requirements including being organized under state laws and that its principal office is located in Minnesota. Companies can raise capital from both accredited and non-accredited investors from across the state.

  • Read more about MN Adopts Equity Crowdfunding; MD Organizations Announce Partnership Crowdfunding Portal

States Find New Ways to Expand Access to Higher Education

Thursday, May 14, 2015

Forty-one states are spending less per student than before the 2008 recession, according to a recent study from the Center on Budget and Policy Priorities. As a result, more of the burden of higher education costs is being passed on to students, putting college out of reach for many. With state budgets still tight, many states are experimenting with new ways to make a college education accessible to all students.

  • Read more about States Find New Ways to Expand Access to Higher Education

Pittsburgh Launches Inclusive Innovation Roadmap to Support Equitable Access to Technology, City Resources, Information

Thursday, September 10, 2015

Pittsburgh Mayor William Peduto announced the launch of the Pittsburgh Roadmap for Inclusive Innovation, a strategic plan that is intended to support economic growth and the equitable access to technology, city resources, and information. The roadmap includes three primary goals that include:

  • Read more about Pittsburgh Launches Inclusive Innovation Roadmap to Support Equitable Access to Technology, City Resources, Information

Maryland Fund Aims for 40 New Discoveries a Year

Wednesday, April 18, 2012

A new fund established to capitalize on Maryland's leadership in R&D seeks to move 40 new discoveries and innovations out of the lab and into the marketplace each year through a partnership between the state and five universities. The Innovate Maryland initiative is seeded with $5 million in the FY13 budget with additional funds from the participating universities to provide grants to researchers. The Maryland Technology Development Corporation (TEDCO) will administer the fund.

  • Read more about Maryland Fund Aims for 40 New Discoveries a Year

TBED People & Orgs

Wednesday, June 13, 2012

Richard Bendis has been named the first president and CEO of BioHealth Innovation, Inc. a regional private-public partnership focusing on commercializing market-relevant biohealth innovations and increasing access to early stage funding in Central Maryland.

  • Read more about TBED People & Orgs

Groups Call for Aggressive Bioscience Strategies in IN, NY and PA

Wednesday, May 23, 2012

Two common themes emerged in a trio of reports aimed at growing the bioscience sectors in Indiana, New York and Pennsylvania: the need for a sustained financial commitment from the states and the importance of a shared vision and better communication between policymakers and industry leaders. In all three reports, the authors say the payoff is big for the states. The bioscience and life science industries support high-wage jobs and attract significant federal funds.

Indiana

  • Read more about Groups Call for Aggressive Bioscience Strategies in IN, NY and PA

Maryland Passes Venture Capital Bill and Releases Innovation-Oriented Five-Year Plan

Wednesday, April 20, 2011

Last week, Maryland Gov. Martin O'Malley released the results of 18 months of work by the Maryland Economic Development Commission (MEDC), laying out the state's strategy for economic growth over the next five years. MEDC's five-year plan provides many economic development policy recommendations, but lists innovation, commercialization and entrepreneurship as the first three foundations for growth. Part of this strategy includes the implementation of InvestMaryland, a recently passed initiative that would generate more than $70 million for seed and growth stage companies.

  • Read more about Maryland Passes Venture Capital Bill and Releases Innovation-Oriented Five-Year Plan

TBED People

Wednesday, May 18, 2011

Karel Schubert has been appointed executive director of the Bioscience Association of West Virginia. Schubert most recently founded and is the chief executive officer of BioSynectics, a St. Louis-based bioscience firm.

J. Michael Saul, deputy director of the R.I. Economic Development Corporation, who served as interim director for a year, is stepping down. Saul had overseen the agency's capital programs such as the Small Business Loan Fund.

  • Read more about TBED People

Maryland Budget Supports Tech and Biotech Industries

Wednesday, May 4, 2011

In support of Gov. Martin O'Malley's Bio 2020 Initiative, lawmakers increased funding for stem cell research and provided $8 million in tax credits for biotechnology investments in the FY12 budget approved last month. Lawmakers also passed a bill providing a two-year eligibility extension for companies using the biotech tax credit and allocated $2.4 million to fund nanobiotechnology projects.

  • Read more about Maryland Budget Supports Tech and Biotech Industries

State and Local Economic Development Centering on Regional Approaches

Wednesday, June 8, 2011

Much of the recent economic recovery plans coming from governors across the country have focused on growing and nurturing existing businesses through a regional approach to economic development. The idea is that by identifying and defining the unique needs of a region, policymakers and practitioners can then provide the necessary tools and resources to grow industries likely to succeed within a given region, thus improving the overall economic landscape of the state. This approach is happening both in states and at the local level.

  • Read more about State and Local Economic Development Centering on Regional Approaches

Economic Development Programs Consolidated in PA Budget

Wednesday, July 13, 2011

Lawmakers approved Gov. Tom Corbett's proposal to restructure the state's economic development efforts by consolidating several programs within the Department of Community and Economic Development (DCED). Total general fund spending for DCED in FY12 is $212.8 million, down from $327.5 million last year or a 35 percent reduction. Much of this is achieved through consolidating programs.

  • Read more about Economic Development Programs Consolidated in PA Budget

Manufacturing Resurgence Attracts Attention of State Legislatures

Thursday, June 26, 2014

The recent uptick in U.S. manufacturing activity, along with the attention generated by additive manufacturing and the Makers movement, has led to an increase in state initiatives to help cash in on this growth. In recent months, New York, Connecticut, Maryland, and Arizona have all taken steps to build stronger manufacturing sectors through research collaborations, grants and tax credits. Leaders in Colorado and New Jersey have pursued their own cluster-specific efforts to build stronger high-tech industries.

  • Read more about Manufacturing Resurgence Attracts Attention of State Legislatures

Lab Space, Commercialization Support Backed by State Governments

Thursday, June 26, 2014

State legislators in many parts of the country took action this year to fund the construction of research infrastructure and provide financial support for commercialization. In Kansas, New York, Georgia, Maine and Wyoming, legislators funded the construction of laboratories and other innovative spaces at public universities to boost the high-tech economy. In Colorado, Maryland and a number of universities, new initiatives were rolled out to support public-private research collaborations and the commercialization of cutting-edge technology.

  • Read more about Lab Space, Commercialization Support Backed by State Governments

Lawmakers Tackle Workforce, STEM and Higher Ed Policy

Thursday, June 26, 2014

Addressing accessibility, affordability and ensuring workforce preparedness topped legislators’ agendas in many states during the 2014 sessions. States and regions are increasingly competing for talent as the trend toward growing and nurturing innovation ecosystems continues.

  • Read more about Lawmakers Tackle Workforce, STEM and Higher Ed Policy

States Shift Priorities Toward Long-Term Research Capacity Building

Thursday, June 26, 2014

With an eye toward long-term payoffs associated with investments in research, lawmakers dedicated funds and strengthened ties with industry partners. Some states made significant investments in facilities and R&D to grow cancer research capabilities, while others looked to universities to establish new avenues for discovery or attract star researchers. In Washington, the life sciences community banded together to save a nine year-old grant fund that invests in R&D and helps the state remain competitive.

  • Read more about States Shift Priorities Toward Long-Term Research Capacity Building

VC Funding Declines in Q3 2014, Reports Examine VC Trends in OH, OR, PA

Thursday, October 16, 2014

In Q3 2014, venture capital (VC) investments in the U.S. dropped by 30 percent from Q2 totals, according a new report from CB Insights. Q3 VC deal levels also dropped by 10 percent from Q2 totals. The severe drop, however, can be attributed to Q2 being the most successful VC quarter since Q1 2001. The good news is that the first three quarters of 2014 saw the U.S. VC investment total reach $33.75 billion – an increase of 59 percent compared to the first nine months of last year.

  • Read more about VC Funding Declines in Q3 2014, Reports Examine VC Trends in OH, OR, PA

Universities, Public-Private Partners Launch Commercialization Funds in IN, LA, PA, WA

Thursday, October 23, 2014

Purdue University, the University City Science Center, and Washington State University announced the creation of new investment funds to support the growth of university-affiliated startups in their respective communities. These three recently announced commercialization funds all share a common trend – they will be managed or assisted in the management process via public-private partnerships.

  • Read more about Universities, Public-Private Partners Launch Commercialization Funds in IN, LA, PA, WA

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