As the cost of a college education continues to rise and good paying jobs are seemingly scarcer than ever before, many Americans are questioning the value of a college degree. A recent survey from the Pew Research Center found 57 percent of Americans believe the U.S. fails to provide good value for the money students and their families spend, and about four in ten college presidents say the system is headed in the wrong direction. At the same time, however, studies find the lifetime earnings of college graduates to be much higher than those of high school graduates.

The 2011-13 biennial budget for the Oregon Business Development Department recently approved by lawmakers allocates $16 million for the Oregon Innovation Council (Oregon InC), the same amount as last biennium, but short of the $19 million requested by Gov. John Kitzhaber to broaden research and technology transfer programs.

As the outlook for general revenue funds improves in many states, governors are looking to boost investment in higher education and STEM as a means for growing the economy and enhancing the workforce. Universities' economic return to states can be quite impactful.

Spencer Eccles, executive director of the Utah Governor's Office of Economic Development, is departing state government to form a private investment company.

Travis Sheridan, currently the assistant vice president for innovation and entrepreneurship for the St. Louis Economic Development Partnership, will become the new executive director of the Venture Café Foundation.

The United Kingdom (UK) recently announced that it will petition the European Commission, the European Union’s executive body, for permission to increase the size of tax relief for social investments that address significant social issues. In the U.S., Georgetown University and Portland State University recently announced new initiatives to promote innovation that will address social issues. These universities join a growing number of institutions of higher education that are working to grow domestic social innovation, train a generation of social entrepreneurship and spur social impact investing.

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.

The National Institute for Standards and Technology (NIST) Manufacturing Extension Partnership (MEP) program recently awarded $2.5 million for five pilot projects to improve small U.S. manufacturers' supply chain competitiveness and foster their readiness to adopt advanced technologies. The projects will be led by MEP centers and bring together teams of experts in specific technology areas. MEP centers in California, Georgia, Oregon, Texas and Wisconsin each will receive approximately $500,000 for the pilot efforts, which, in most cases, involve partners in other states.

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.

Business, civic, and political leaders in St. Louis are coming together to raise $100 million in private funds over the next five years to support the Regional Entrepreneurial Initiative, a new effort aimed at helping emerging regional businesses grow and thrive. The project was launched with funding from the federal government and will draw on several ongoing fundraising initiatives in the community.

Oregon lawmakers unanimously approved a bill (HB 3472) that instructs the state's Higher Education Coordinating Commission to design a pilot program to evaluate a new college funding system known as "Pay It Forward." Under the proposed model, students would commit a percentage of their future incomes to repay the state, instead of paying tuition or taking out traditional loans to attend community colleges and universities. The bill currently awaits the signature of Gov. John Kitzhaber.

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.

A continued trend toward improved fiscal conditions gave rise to targeted and riskier investments in research for several states this legislative session. In particular, lawmakers dedicated funds for life sciences research and for initiatives aimed at commercialization through partnerships with higher education and the private sector. Other states dedicated additional funds to expand promising research and technology-focused initiatives already underway.

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.