Massachusetts House leaders introduced a bill earlier this week calling for funding to support R&D at universities and research centers, manufacturing grants and workforce training, and a venture capital mentoring program for startups. The measure is touted as a jobs bill to stimulate the state's sluggish recovery by focusing on high-growth sectors of the economy.

As global economies shift, developing nations are attempting to transition as suppliers of raw materials to nations that are producers of value-added goods. Africa has been a major supplier of raw materials to the developed world. However, it drastically lagged behind in the production of valued-added goods. Recently, African nations have attempted to reinvent their economic development efforts from suppliers to producers by developing programs to grow tech-based economies.

Sens. Moran (R-KS), Warner (D-VA), Rubio (R-FL), and Coons (D-DE) introduced legislation on Tuesday that would continue to spur the economy through the creation of new businesses. Senate Bill 3217, also known as Startup Act 2.0, expands on the initial Startup Act introduced by Sens. Moran and Warner in December, and builds on the success of the JOBS Act passed with bipartisan support in both houses and signed by President Obama earlier this year.

Two common themes emerged in a trio of reports aimed at growing the bioscience sectors in Indiana, New York and Pennsylvania: the need for a sustained financial commitment from the states and the importance of a shared vision and better communication between policymakers and industry leaders. In all three reports, the authors say the payoff is big for the states. The bioscience and life science industries support high-wage jobs and attract significant federal funds.

Indiana

Massachusetts Governor Deval Patrick announced the creation of the Massachusetts Big Data Initiative, a number of steps and initiatives that will help turn the state into a world leader in big data — the collection and analysis of data that is too big, growing too fast or is too complex for existing information technology systems to handle. To achieve this goal, the state will partner with several private partners and research institutions to establish several new initiatives including:

The Michigan Economic Development Corporation (MEDC) announced last week five new programs under the Pure Michigan Business Connect initiative established last year to provide small businesses in emerging industry sectors with economic development incentives, startup capital and support services (see the June 8, 2011 issue of the Digest).

The new programs focus mostly on providing access to capital and making connections. They include:

The Kansas Bioscience Authority (KBA) has launched a collaborative partnership of more than 90 contract research organizations (CROs) to help the region compete in the pharmaceutical and medical device industries. BioResearch Central will help promote the Greater Kansas City region as a destination for pharmaceutical R&D at a time when drug companies are increasingly looking overseas for their contract research needs.

U.S. immigration policies are irrational and undirected according to a new report from the Partnership for a New American Economy and Partnership for New York City — Not Coming To America: Why the U.S. is Falling Behind in the Global Race for Talent. In sharp contrast, to attract immigrants that drive economic growth and increase international competitiveness, foreign countries have adopted targeted and strategic policies that include:

The Office of Science and Technology (OSTP) is soliciting advice on how to best stimulate job creation through investments in biological research and development. In a new Request for Information (RFI), OSTP asks for input on national challenges related to biotechnology research, eduction, entrepreneurship and partnerships. Submissions, which are due by December 6, 2011, will help shape the administration's bioeconomy strategy.

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.

Michigan State University, Rutgers University and the University of Michigan all have announced new initiatives that are intended to fuel innovation and grow regional economies. Michigan State established the University Center for Regional Economic Innovation — a university-based, economic development research center focused on generating businesses and jobs statewide. Rutgers University created a Disruptive Innovation Fund to provide up to $1 million to support the commercialization of innovative products.

A coalition of private businesses and nonprofit organizations, including Microsoft, Best Buy, the Boys and Girls Club and the National Urban League, has launched a new initiative to increase broadband adoption and teach technology skills. The new Connect to Compete initiative, which will be managed by One Economy, will deploy a variety of digital training resources, courses and tech jobs matching programs beginning next year. Earlier this year, U.S.

As budgets for economic development tighten across all sectors, measuring and reporting impact becomes even more crucial for sustaining support. The Association of University Research Parks points to three impressive impact reports released this year from Indiana's Purdue Research Park, Nebraska Technology Park and North Dakota State University Research and Technology Park.

Job Corner
The Invest Nebraska Corporation is hiring a CEO to join their team in Lincoln, NE. The CEO will manage Invest Nebraska's programs throughout the State of Nebraska. Invest Nebraska Corporation is a private, nonprofit venture development organization focused on developing high-growth companies in Nebraska and growing the state's economy.

Instant Access to Best Practices from 20 Leading TBED Practitioners Over the last four years, SSTI has interviewed many of the nation's experts who are heading up programs recognized for applying innovative approaches to generate substantial economic gains for their region. Each of the 20 podcasts succinctly describe critical components involved in elevating these programs to a level of national recognition and offer advice that is applicable across several sectors of economic development policy and practice.

With less than three months until the start of the 2012 legislative session for many states, governors and state economic development groups are working to define areas of investment seen as key to their state's competitiveness. In Florida, Gov. Rick Scott unveiled a job creation and growth agenda that prioritizes science, technology, engineering and mathematics (STEM) education to produce more graduates for a competitive workforce. Meanwhile, leaders in Mississippi and Virginia issued reports that identify industry sectors most likely to grow their states' economies.

Building on a decade of work by the Coalition for Plant and Life Sciences, BioSTL launched last month to provide funding and support for emerging bioscience companies. The group also will dedicate resources such as training and recruiting entrepreneurs and increasing venture capital investment to collectively benefit partner organizations working to increase bioscience activity in the region. Washington University in St. Louis, BJC HealthCare, and the St. Louis Life Sciences Project each committed $2 million per year for five years, totaling $30 million to launch the effort.

Gov. Jay Nixon last week signed into law the Missouri Science and Innovation Reinvestment Act (MOSIRA) nearly two years after first proposing the initiative (see the Jan. 6, 2010 issue of the Digest). MOSIRA creates a funding source to grow research and technology companies by capturing a percentage of the growth in state revenue over a base year (fiscal year 2010) from a designated group of science and innovation companies.

Florida's Institute for Commercialization of Public Research has launched a new loan program for early stage and life science companies developing technologies out of the state's universities and research institutions. The Seed Capital Accelerator Program will match private investment in university spinouts through loans of $50,000 to $300,000. The program is intended to help attract the attention of angel and venture firms to promising university research.

American manufacturing companies cannot fill as many as 600,000 skilled positions — even as unemployment numbers hover at historic levels — according to Boiling Point? The Skills Gap in U.S. Manufacturing, a new report from Deloitte and the Manufacturing Institute. This annual skills report provides a stark snapshot of the manufacturing sector's inability to find qualified workers.

U.S. venture capital firms invested $6.95 billion in 86 deals in the third quarter of 2011, according to the more recent release from the PricewaterhouseCoopers and National Venture Capital Association (NVCA) Moneytree report. The figures represent a 12 percent decline in dollars and a 14 percent decline in since from the previous quarter, but an increase in both dollars and deals over the third quarter of 2010. Despite the loss compared to the previous quarter, national venture investment appears to be continuing its gradual rebound from the collapse in late 2008.

The Canadian government must focus its research and development (R&D) support efforts on "the goal of growing innovative firms into larger enterprises, rooted in Canada but facing outward to the world and equipped to compete with the best," according to Innovation Canada: A Call to Action — a new report commissioned by the Honorable Gary Goodyear, the Canadian Minister of State for Science and Technology. The authors contends that Canada has a solid foundation to build its knowledge economy.

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.

Building on several of the new programs enacted during the regular legislative session (see the June 15, 2011 issue of the Digest), Gov. Dan Malloy last week signed into law HB 6801, a comprehensive legislative package that authorizes $626 million in bonds to support efforts aimed at job creation. The bill has several components to support high-tech entrepreneurship, workforce development, and incentivize manufacturers and small businesses.

The Obama administration recently announced two directives to accelerate the commercialization of research and provide small businesses with streamlined access to federal resources. In his announcement, President Obama tied the directives to his administration's recent jobs push, and noted the need to bypass Congress in order to quickly implement the changes.