Last year, U.S. venture capitalists invested about $10.7 billion in seed and early stage companies, 17.1 percent higher than 2012, according to data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC) Moneytree survey.  Though the overall venture capital (VC) market has returned to about the same level of activity as before the economic crisis, investment in seed and early stage companies has grown by more than a third.

Robbie Melton has been named the executive director and CEO of the High Technology Development Corporation.

Gov. Bobby Jindal has appointed Louisiana Tech University president Les Guice to chair the Louisiana Innovation Council.

Having world-class facilities to train workers or support research in fields most likely to benefit the state is a draw for many reasons. Attracting outside investment, retaining talent and generating buzz are just a few of the benefits. Last year, Connecticut lawmakers dedicated more than $2 billion to expand science and technology education on the campuses of the University of Connecticut, including construction of new STEM facilities and for building research and teaching labs. Michigan Gov. Rick Snyder is the latest state leader to announce funding proposals aimed at either constructing new facilities or making capital improvements for training students in high-wage, high-demand fields. Similar announcements were made earlier this year in Florida, Georgia, Rhode Island and Wyoming.

In the U.S. there is strong bi-partisan consensus that immigration is a key driver for entrepreneurship and regional competitiveness.  With federal immigration reform essentially shelved for 2014, cities and states are searching for their own solutions to attract and retain high-skilled immigrants. Proposals by Michigan Gov. Rick Snyder and other policymakers represent new approaches to immigration reform that can support local entrepreneurship and regional economic development.

The latest Department of Defense-led manufacturing innovation institutes will support cutting-edge research and product development in lightweight and modern metals and digital manufacturing and design. A consortium of 73 companies, nonprofits and universities will help launch the Chicago-based institute. The Detroit-area based consortium involves 60 partners.

Between FY2007-12, research and development (R&D) spending at U.S. universities grew 27.5 percent, from about $51.6 billion to $65.8 billion, according to the latest edition of the National Science Foundation’s (NSF) Higher Education Research and Development (HERD) survey. The survey provides a look at R&D spending at U.S. universities, with data broken down by state, institution, research area and funding sources.

Just three years ago, lawmakers in Washington put into place a research and commercialization initiative designed as a public-private model to build on the work of two longstanding agencies and better serve the state’s innovation community. The program, Innovate Washington, was eliminated in the legislature during the 2014 session with the passage of HB 2029 and its responsibilities transferred to the state’s Department of Commerce. Funding to support research grants under the Life Sciences Discovery Fund is reduced in the supplemental budget agreement passed by lawmakers. Gov. Jay Inslee has until April 5 to act on the legislation.

Since 2011, three states (Kansas, Georgia and North Carolina) have enacted securities exemptions that allow their state's entrepreneurs and small businesses to raise up to $1 million dollars via the sale of securities to residents of the state — Washington lawmakers introduced similar legis

Yuka Nagashima, executive director of the High Technology Development Corp. and center director for the Innovate Hawaii program, has resigned from both posts and will leave the state agency in August. Nagashima will be leaving for Denmark to support her husband's research career. Len Higashi, current senior economic development manager, was selected to become the acting executive director.

For several states, this year's legislative session resulted in continued austerity toward new investments and level funding for established tech-based initiatives producing good results. Workforce initiatives seemed to be the exception, garnering greater attention from state leaders eager to boost employment numbers — especially in high-tech fields.

States across the U.S. are directing their attention to science, technology, education and technology (STEM) education, and already have passed a plethora of new initiatives in the current legislative session.  These programs are directed at various levels of education including primary education and higher education, with one program specifically designated for the state’s community colleges. A number of states have created STEM advisory councils under the governors’ offices, following the lead of Iowa and Massachusetts.

At the close of many recent legislative sessions, states across the country moved to strengthen their high-tech workforce while supporting industry cluster development.

To continue the momentum surrounding economic gardening, innovation and entrepreneurship efforts that began last year, lawmakers provided level funding and added funds for arts and cultural programs and community-focused workforce initiatives in the FY13 budget. Michigan's higher education institutions will receive a 3 percent increase in funding, which is tied to performance metrics that include R&D expenditures and degree granting in critical skills areas.

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

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.

The National Science Foundation (NSF) has announced that it will award $74 million total for the creation of four interdisciplinary research and education centers as part of the third generation of NSF Engineering Research Centers. In addition to their primary focus on commercialization and education, these centers will emphasize innovation, entrepreneurship, small business collaboration, and international partnerships. For the first time, two of the ERCs will be co-funded by the Department of Energy.

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.

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.