Creating Shared Value through Locally Focused Venture Capital Funds
In the January 2011 edition of the Harvard Business Review, Michael Porter and Mark Kramer called for a redesign of the existing business model and their role within society. Instead of simply embracing corporate responsibility and corporate giving, businesses should work to create shared value within their community by helping to support local clusters and institutions to address societal needs and issues.
Freestanding Entrepreneurship Schools, Creative Courses Illustrate Evolving Role of Universities
Recent research on the evolving role of universities finds the emergence of an entrepreneurial society has contributed to a broader and more fundamental role for universities — that is to provide thinking, leadership and activity to enhance entrepreneurship capital. University-based entrepreneurship programs and initiatives seem to have gained steam following the recession with federal support for programs to enhance entrepreneurial efforts in states and regions and increased interest from students and out-of-work individuals.
OH, PA, WV Collaboration to Host Pilot Manufacturing Innovation Institute
On Thursday, the Obama administration announced it had selected the TechBelt region, encompassing northeast Ohio, western Pennsylvania and northern West Virginia, to host the pilot institute of the National Network for Manufacturing Innovation (NNMI). The new National Additive Manufacturing Innovation Institute (NAMII) will operate as a partnership of more than 60 companies, research universities, community colleges and nonprofit organizations from the region.
EDA Awards $3M to Three Cities for Economic Development Planning
The Department of Commerce announced the winners of the Strong Cities, Strong Communities (SC2) Challenge, the Economic Development Administration-led competition seeking to help cities and regions develop a comprehensive economic development strategy. Greensboro, North Carolina, Hartford, Connecticut, and Las Vegas, Nevada each were awarded $1 million to assist in the refinement and implementation of their respective plans.
$20M Awarded to 10 Public-Private Regional Partnerships Geared towards Advanced Manufacturing Initiatives
The Obama administration announced winners of the Advanced Manufacturing Jobs and Innovation Accelerator Challenge on Tuesday. The challenge — publicized earlier this year — is one of the key initiatives of the interagency Taskforce for the Advancement of Regional Innovation Clusters and is sponsored by a partnership between the U.S. Department of Commerce, the National Institute of Standards and Technology, the Departments of Energy and Labor, and the Small Business Administration.
Temple University Launches Pennsylvania Math Engineering Science Achievement Initiative
Temple launched the Pennsylvania Math Engineering Science Achievement (MESA) initiative designed to increase the number of scientists, technologists, engineers and mathematics (STEM)-related professionals graduating from two- or four-year institutions and to build a diverse, national STEM workforce necessary to compete economically in a global environment.
TBED People and Job Opportunities
Maria Haley, the executive director of the Arkansas Economic Development Commission passed way Sept. 13 after suffering a brain aneurysm.
The U.S. Commerce Department's Economic Development Administration announced Matthew Erskine will join the agency as the U.S. deputy assistant secretary of Commerce for Economic Development and chief operations officer.
Seven States Selected to Identify, Implement Strategies for Enhancing Manufacturing
A newly established policy academy providing guidance and technical assistance will help seven states improve their environment for innovation and align state R&D investments, workforce development and education systems with current and future needs of advanced manufacturing industries. The policy academy will help each state develop a plan or overcome barriers for putting a plan into action through a highly interactive team-based process that includes input from NGA, MEP, EDA, SSTI, private sector consultants, and research organizations.
TBED People & Orgs
Jeffrey Brancato has recently joined NorTech as vice president. Prior to joining NorTech, Brancato was the associate vice president for Economic Development at the University of Massachusetts.
Randal Charlton has announced his retirement as executive director of TechTown, the Wayne State University research and technology park. Leslie Smith, the general manager of TechTown has been appointed to fill the position beginning Nov. 1.
Nevada Economic Development Agenda Seeks to Capitalize on Clusters, Regionalism
To leverage the state's opportunities, Nevada needs to upgrade its diffuse economic development system to empower its regions more fully and set a statewide platform for new growth, finds a report commissioned by the state. Building on legislation passed earlier this year to reorganize and elevate the importance of the state's economic development activities, the report calls on the state to unify its operating system for 21st century economic development, support smart sector strategies in the regions, and set a platform for higher-value growth through innovation and global engagement.
Pennsylvania’s Largest Universities Make Investments in Innovation, Entrepreneurship
Pennsylvania’s largest universities by student population, Penn State and Temple University, both announced plans this week to make a concerted investment in their respective innovation ecosystems. Pennsylvania State University (PSU) President Eric Barron announced $30 million in new investments for economic development and student career students, while Temple University and Ben Franklin Partners of Southeastern Pennsylvania established a new startup accelerator to assist university ventures.
STEM Education, Skilled Workforce Programs Popular Among State Budget Proposals
This week, governor’s in eight states released their budget proposals. Balanced budgets and fiscal austerity were undoubtedly emphasized by the governors, yet funding for STEM education and workforce development initiatives were increasingly popular.
Tech Talkin' Govs: Tax Reform, Higher Ed Featured in Governors' State of the State Addresses
SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.
Innovative Economic Development a Priority in PA, NC Budget Proposals
Several governors released their proposed budgets over the last two weeks, and while some states continue to deal with budget shortfalls that prevent many new initiatives from coming into fruition, governors in Pennsylvania and North Carolina included numerous proposals focused on innovation and economic development. Additionally, governors in Louisiana and Massachusetts highlighted new workforce development proposals.
Pennsylvania
PA's Economic Efforts Should Focus on Building Businesses Not Poaching Them, Report Finds
Pennsylvania’s economic development strategy should focus on building businesses rather than poaching, according to a new report from the Keystone Research Center (KRC) – All Pennsylvanians Prospering Together (APP): A Pennsylvania Economic Development Strategy for the Long Term.
Pittsburgh at precipice of innovation initiative
Recognizing that the former steel city was at tipping point in its development, Pittsburgh’s city leaders decided to tip the scale toward continued growth. Whether the city is able to rise to the level of a serious global competitor may hinge on the implementation of initiatives that will guide the city in capitalizing on their innovation, research and business assets, according to a new report from the Brookings Institution. Pittsburgh leaders received a call to action as a result of a collaborative effort initiated by two city foundations and the Brookings Institution.
EDA Announces Funding for Entrepreneurial, Workforce Development in OK, PA SC, WY
Over the last several months, the Economic Development Administration (EDA) has announced millions of dollars in grants to support tech-based economic development efforts in communities across the country (see recent Digest articles from August 18 and September 8).
EDA Announces Grants to Spur Manufacturing Growth, Address Declining Coal Industry
Since the beginning of July, the Economic Development Administration (EDA) has announced almost $7.3 million in grants to support advanced manufacturing and support workforce development efforts in communities impacted by the decline coal industry. In Florida and Washington, the EDA announced funding to support the facilities that can house local manufacturing firms and provide the space and equipment necessary for them to create jobs.
Universities Seek External Funds for Big Data R&D Centers
The big data technology and services market is expected to grow at a compound annual rate of 23.1 percent over the 2014-2019 forecast period, with annual spending projected to reach$48.6 billion in 2019, according to a 2015 study from IDC – a market research firm. Hoping to leverage this exponential growth into research and economic development opportunity, several universities are fund raising to establish new big data R&D Centers in the communities they serve.
Cleveland Fed: Use Sector Partnerships to Address Employment Needs
Opportunities for successful workforce development partnerships exist across a variety of industries and geographies, according to a recently released report from the Community Development Department at the Cleveland Fed. The report, Addressing Employment Needs through Sector Partnerships, includes five case studies from throughout the Federal Reserve’s Fourth District, which contains Western Pennsylvania, Eastern Kentucky, the panhandle of West Virginia and all of Ohio. Although sector-based initiatives have been around for quite some time, the Workforce Innovation and Opportunity Act, whose final regulations became publicly available in June 2016, places a strong emphasis on aligning education and job training with employer needs, according to the report’s authors Kyle Fee, Matt Klesta, and Lisa Nelson.
AL, CT, FL, MI, MO, OK, PA and WI budget proposals boost and cut TBED
In the latest round of state budget proposals, TBED initiatives receive mixed reviews. Some governors are boosting funding while others in cash-strapped states are proposing cuts.
Philly collaboration aims to accelerate business
Tuesday’s ceremonial groundbreaking on a new building in Philadelphia marks the foundation of a new collaboration between a number of players that are hoping to accelerate the innovation community in the city.
Tech Talkin’ Govs, Part III: AK, IN, MI, NM, NV, RI talk feature education, workforce initiatives
SSTI’s latest Tech Talkin’ Govs installment excerpts TBED highlights from governors’ speeches in Alaska, Indiana, Michigan, New Mexico, Nevada and Rhode Island. Education and workforce are focal points in this latest round of the state of the state addresses, as they have been in the two previous posts. Varying issues are factored into the speeches, from the $3 billion fiscal gap in Alaska to the proposed free college tuition in Rhode Island.
Alaska
TBED funding to increase in some state budgets, cut in others; CA, HI, MN, NV, ND, RI
SSTI has reviewed another mix of state budgets as governors across the country continue to release their proposals. Some states, like California and North Dakota, are seeing cuts in the amount of money designated for TBED-related work, while others like Minnesota are in a more favorable fiscal situation and continue to fund such initiatives. Still others, like Rhode Island, are proposing new initiatives.
$80 million awarded for Advanced Robotics Manufacturing Institute in Pittsburgh
Pittsburgh will be home to the Advanced Robotics Manufacturing (ARM) Innovation Hub, the newest member of the Manufacturing USA network. The U.S. Department of Defense announced that American Robotics, Inc., an independent nonprofit spun out of Carnegie Mellon University will receive roughly $80 million in federal funding to launch the institute, matched with $173 million in support from the university and a consortium representing approximately 120 industry partners, 40 academic institutions and 60 non-profit and government entities.