While many state programs provide periodic reports on their activities and impacts, a few states provide regular data on their innovation economy as a whole. These reports can be useful in assessing a state's overall approach to TBED and in finding new areas for strategic intervention. Recently, groups in Massachusetts, Maine and Illinois separately released innovation indices that provide quantitative guides to their state's progress in fostering innovation.

House lawmakers fell short of overriding Gov. Paul LePage's veto of a $20 million bond for R&D projects that would have gone to voters in November following passage in the legislature earlier this month. The money would have been used by the Maine Technology Institute to provide competitive grants to businesses, nonprofit organizations, university research labs and others for R&D and commercialization projects through the Maine Technology Asset Fund (MTAF).

Maine Gov. Paul LePage has nominated George Gervais, the acting commissioner of the Maine Department of Economic and Community Development as commissioner. His nomination must be reviewed by the Joint Standing Committee on Labor, Commerce, Research and Economic Development and confirmed by the Senate.

The fifth installment of SSTI’s Tech Talkin’ Govs series includes excerpts from speeches delivered in Connecticut, Maine, Oklahoma, and Tennessee.

Several bills aimed at supporting startups, advancing research and improving the workforce have been introduced with the start of the 2014 sessions. Some of the proposed legislation offers a glimpse into the investment priorities of governors and lawmakers in the wake of economic recovery. Providing innovative companies with access to startup funds is a continued theme from previous years. Some states are seeking to expand tax credits for angel investors or offer new tax credits to encourage emerging industries. Other bills focus on generating more skilled workers quickly and positioning universities to enhance regional economic competitiveness.

Recent court decisions regarding high-speed Internet competition and net neutrality have put U.S. broadband competitiveness on uncertain terrain. Despite two decades of publically supported high-speed data infrastructure efforts, many rural areas still lack access and even densely populated areas remain underserved.  New statewide efforts in Kentucky, Minnesota and Iowa have been announced to improve broadband services and boost economic competitiveness. In addition, Google has announced that it will expand its ultra-fast fiber services to nine more cities across the country.

University-focused initiatives that help bring new technologies and products to market help drive regional economic development and encourage an entrepreneurial culture on campuses. SSTI’s latest Trends in TBED report featured a number of commercialization efforts launched in 2013, including university-based funds to support ideas from faculty, staff and alumni. So far, 2014 also has proven active in this area with the announcement of several new initiatives to support university technology startups.

Maine businesses may now raise up to $1 million in capital by selling small amounts of equity to individual investors as a result of legislation that recently became law without the signature of Gov. Paul LePage. Using a model similar to crowdfunding websites such as Kickstarter, participating businesses will be able to register with the Maine Office of Securities, setting both a fundraising goal and deadline.  Individual investors will be able to purchase up to $5,000 in equity from a single business.

Over the last week, several states have announced/passed new programs focused on increasing the capital available to spur small business growth and innovation. Officials from New Jersey announced the state's new angel tax credit will take effect July 1. In Arizona and Wisconsin two bills await gubernatorial approval that would rework the Arizona R&D tax credit program and establish a $75 million venture capital fund in Wisconsin. Meanwhile, the Minnesota state legislature did not approve an additional $5 million for its popular Small Business Investment Tax Credit.

During this year’s legislative sessions, several states looked toward creating, providing support for or redesigning programs that help incentivize businesses to hire and mentor student interns. In an effort to spur rural internships, Minnesota lawmakers approved a new tax credit program to support internships for students in greater Minnesota. In North Dakota, lawmakers committed $1.5 million to their Operation Intern program, while Nebraska lawmakers updated their Intern Nebraska grant program to provide students with a high-quality internship experience. Rhode Island Gov.

A number of states recently have taken action to expand R&D tax credits and other legislation that would support innovation, commercialization and manufacturing. Hawaii, California, Maryland, Texas, and Florida have signed into law tax incentives and R&D tax credits and an R&D tax credit in New Hampshire went into effect.  The Maine legislature also passed a capital tax credit that will begin in 2014.

Betsy Biemann, who has served as president of the Maine Technology Institute since 2005 has resigned. Joe Migliaccio, manager of MTI's Business Innovation Program, is serving as interim president.

Indiana Gov. Mitch Daniels has been named the next president of Purdue University. Daniels will become the 12th president in Purdue's 143-year history in January at the end of his second term as governor.

As many states near the mid-point of their 2012 legislative sessions, we thought it would be a good time to take a look at some of the bills advancing in statehouses that could impact states' efforts to improve economic conditions. Several states are seeking to advance access to capital initiatives as they continue to struggle with declining revenue and tight credit restrictions. The following overview provides a sampling of TBED bills supporting access to capital, R&D enhancements and higher education standards.

Providing Access to Capital

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.

Pamela Goldberg has been appointed as the executive director of the Massachusetts Technology Collaborative. Currently, Goldberg serves as director of entrepreneurial leadership at Tufts University.

Lawmakers in several states wrapped up their 2011 sessions in time for the new fiscal year, which begins on July 1 for most states, allocating funds and passing bills in support of tech-based economic development. Read more...

Recent legislative actions supporting technology-based economic development include level funding for the Massachusetts Life Sciences Center, funding to support programs of the Minnesota Science and Technology Authority and the expansion of two state programs in support of technology and life sciences companies in New Jersey.