The Michigan Strategic Fund (MSF) and the Michigan Economic Development Corporation (MEDC) announced public hearings for the Pure Michigan Venture Match Fund — a new program that will match early stage investments from eligible venture funds in Michigan-based technology businesses. MSF and MEDC intend for the program to attract venture funds, within and outside of Michigan, to consider investments in early stage and pre-revenue technology companies and to mitigate some risk for venture fund investments through the matching MSF funds.

With a greater focus on jobs training and arts and cultural programs, Michigan's budget for economic development would increase by more than 10 percent in FY13 under Gov. Rick Snyder's proposal. Universities and community colleges would receive a 3 percent boost under a new performance formula based on degree completion — particularly in critical skills areas such as science, technology, engineering, mathematics, and health care. The Michigan Economic Development Corp (MEDC) is slated to receive $195 million in FY13, up from $175 approved for the current year.

The Michigan Economic Development Corporation announced the Tech Transfer Talent Network — a new $2.6 million initiative to increase the supply of seasoned entrepreneurs and innovators who can lend their expertise to member universities' tech transfer offices. The University of Michigan's (U-M) tech transfer office will lead the seven-university network and share its tech transfer resources with member institutions.

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

Now in its 14th year, SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene the 2014 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses. The first edition includes excerpts from speeches delivered in Idaho, Kentucky, New York, Virginia, and West Virginia.

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.

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.

As state and federal funding for higher education dwindles and the workforce needs of the new economy continue to shift, state and university officials are reevaluating how higher education is funded, its return on investment for the state, and how universities can better drive economic growth. Recent examples in New York, Ohio and Texas demonstrate how states are implementing new policies to adapt to the changing times.

The Michigan Economic Development Corporation (MEDC) recently announced the recipients of $25 million in awards from Michigan's 21st Century Jobs Fund. Each of the eight organizations receiving the awards will use the funding to support Michigan entrepreneurs and technology commercialization. The largest single allotment, $10.8 million, will benefit Ann Arbor SPARK, which plans to replenish its Michigan Pre-Seed Capital Fund with the award. Other recipient organizations will be offering capital and business assistance around the state.

The Kiva City program will extend small business access to microloans in U.S. cities facing the greatest small business stress. Kiva, a nonprofit organization, offers personal microlending services. Building upon Kiva's Internet-based lending model, the goal of the Kiva City program is to spur job growth and economic recovery through microfinance by building connections between Kiva's global network of 592,000 individual lenders and small business owners across the country.

The 10 regional councils established earlier this year to stimulate economic development and improve the business climate statewide are tasked with five primary responsibilities, and can compete for funding from a pool of $1 billion to support projects they determine to be a part of their regional strategy. Gov. Andrew Cuomo recently unveiled a blueprint for how the councils will operate with information regarding resource allocation, structure and leadership, and performance measurement.

Venture for America (VFA), nonprofit organization, announced its official launch and the acceptance of applications for its inaugural pool of "fellows," approximately 50, selected from the graduating class of 2012. The organization hopes to "spur enterprise and encourage entrepreneurship in parts of the U.S. that struggle to attract top college graduates."

Michigan's InvestMichigan! Mezzanine Fund is slated to become the Small Business Administration's (SBA) first licensed Impact Investment Fund through the agency's new Impact Investment Initiative. The SBA initiative, which is part of the White House's Startup America initiative, uses the existing infrastructure of the Small Business Investment Company (SBIC) program to encourage small business growth. Participating funds must make place-based investments in small businesses in underserved areas, or investments in the clean energy and education sectors.

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.

The FY15 budget proposal outlined last week by Gov. Andrew Cuomo would provide funding to continue many of New York’s innovation-focused efforts while investing in new initiatives, including a genomic medicine network and STEM scholarship program.

After hitting an all-time high in 2012, California’s dominance of the nation’s venture capital activity receded a bit last year. California continues to receive about half of the country’s venture investment dollars and about 40 percent of its dealflow, but in 2013, the state’s share of dollars fell from 53 to 50 percent, according to data from the PricewaterhouseCoopers/National Venture Capital Association (PwC/NVCA) Moneytree survey. Massachusetts, which has been host to about 10 percent of national venture activity in past years, also saw its share of total U.S.