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A better future depends on science, technology, innovation, and entrepreneurship, but it also depends on harnessing these tools as a way to solve society’s shared problems. Growing jobs and wealth in a community is the goal of nearly all economic development programs, but more can be done to ensure that the public good is given an equal priority when developing regional prosperity strategies. The following highlights examples of technology-based economic development organizations increasingly focusing their efforts on creating opportunity through innovation.

In a document provided to Politico and now widely circulated, the White House revealed its budget reductions for FY 2017. While the budget is currently under a continuing resolution through April 28, the proposed funding numbers largely reflect a partial-year implementation of the administration’s FY 2018 budget blueprint.

Noting a growing need for additional education to meet workforce needs, several states have announced programs focusing on education and workforce needs, channeling state funding to grants that will focus on aligning learning opportunities with business and industry needs, or creating new initiatives in the private sector. Reaching a higher educational attainment among a greater percentage of the workforce by 2025 is also a goal set by several of the states.

Government offices focused on innovation have been around for several years, yet some states and even the federal government are seeking new ways to incorporate the concept into their offices. This week the White House announced a new Office of American Innovation, while earlier this month Rhode Island used its Office of Innovation to launch a new effort called the Government Innovation League, and in January Ohio’s governor proposed funding a new state office focused on innovation, emerging technologies and their job-creation potential.

While the majority of founders say the tech industry is in a bubble (57 percent of respondents),  nine out of 10 founders believe that it’s a good time to be starting a company and are highly optimistic about their own firms’ futures, according to State of Startups for 2016 from First Round Capital – a seed-stage venture firm.

NC Gov. Pat McCrory conceded the election to Democrat Roy Cooper on Monday after a recount he requested in Durham County was showing no change in the election results.  Acknowledging that it was a divisive election, Gov.-elect Cooper said, “I know still that there is more that unites us than divides us.”  Cooper will face a Republican super majority in both chambers of the state legislature.

As a way to support populations that are underrepresented in entrepreneurial activities, the Kauffman Foundation has announced $4.3 million in grants to 12 organizations that provide entrepreneurial support services to women and minorities. The awardees were selected from more than 376 applicants and range in both geography and industry-focus. They will receive awards ranging from $87,000 to $420,000 over the next two years.

This week, America remembers the 75^th anniversary of the attack on Pearl Harbor and its entrance into World War II. Veterans of World War II have had a considerable impact on the current economy: The Bureau of Labor Statistics finds that World War II veterans had the highest rates of self-employment of any period of service.

As new and supplemental state budgets are being proposed, SSTI is monitoring the proposals and will report on developments impacting prosperity through science, technology, innovation and entrepreneurship. The first budgets released – from Colorado, Mississippi, Oregon and Wyoming – represent a mixed bag with new initiatives proposed in three states and program elimination in the fourth.

The U.S. ranks second on a global manufacturing competitiveness index, according to the 2016 Global Manufacturing Competitiveness Index by research firm Deloitte Global and the Council on Competitiveness. The U.S. ranking has improved in each of the past studies and is poised to take over that top spot from China by 2020, the study maintains. However, executives from across the world in responding to the study, noted that talent is the leading factor in determining manufacturing competitiveness, and finding and cultivating that talent is a topic that has received increasing attention from the manufacturing sector. While such rankings provide an interesting focal point, their real value lies in the discussion and attention focused on the subject matter. SSTI recently interviewed several leading thinkers on the subject, finding common calls for changing the approach to the talent pipeline in manufacturing, as well as a cautionary note on rankings.

In last week’s Digest article – Alternatives to VC: Reconsidering the Startup Financing Paradigm – SSTI examined the conventional venture capital (VC) model as well as its advantages and limitations. In this installment, we will highlight alternatives such as revenue-based financing, venture debt, crowdfunding and a new financing model for cleantech proposed by Massachusetts Institute of Technology (MIT) researchers. We also take a look at the potential that these alternatives have for the field of tech-based economic development.

Nearly half of the U.S. states and the District of Columbia saw a 10 percent or greater increase in higher education R&D expenditures from FY 2010 to FY 2015 with five of those states (Connecticut, Georgia, Massachusetts, Nebraska, and Utah) seeing at least a 20 percent change, according to the National Science Foundation’s (NSF) Higher Education Research and Development (HERD) survey for 2015. Between FY10-15 overall U.S. research and development (R&D) spending at U.S.

The 21st Century Cures Act was signed by President Obama on Tuesday and is broadly intended to facilitate the research, development and transfer of medical discoveries in order to better-address diseases affecting American people. While the bill has received mainstream coverage for its bipartisanship – the core authors were two Democrats and two Republicans – and billions in new research spending – more than $5 billion in authorizations – the text also contains potentially significant changes for federally-supported medical research policy.

Despite the economic recovery since the Great Recession, the U.S. remains in a long-term decline in productivity, according to a pro bono study by Gallup commissioned by the U.S. Council on Competitiveness for the council’s 30th anniversary. The study, No Recovery An Analysis of Long-Term U.S. Productivity Decline, finds that since 2007, U.S. GDP per capita growth has been one percent, and Gallup Chairman and CEO Jim Clifton warns that “America is dangerously running on empty.”

To ensure economic growth and the success of the industries of tomorrow, the U.S. government needs to expand federal support for research and improve the efficiency of the process of federally funded knowledge leading to U.S. innovation and jobs, according to a recently released study by the Information Technology and Innovation Foundation (ITIF) and the Brookings Institution’s Bass Initiative on Innovation and Placemaking. In Localizing the economic impact of research and development: Policy proposals for the Trump administration and Congress, ITIF and Brookings suggest 50 policy proposals that the new administration and Congress can undertake to bolster tech transfer, commercialization, and innovation.

Megatrends like ageing societies and digitization are expected to shape future research and development agendas across the globe, according to a recent report by the Organisation for Economic Co-operation and Development (OECD). A broader distribution of science, technology and innovation are expected around the world due to the fast pace of economic development in emerging economies, and global competition for talent and resources will most likely intensify according to the OECD Science, Technology and Innovation Outlook 2016. Such megatrends, and others highlighted in the report, require policy responses that will likely face major constraints, including high public debt, international security threats, a possible erosion of social cohesion and the rise of influential non-state actors, the report maintains.

Congress approved the National Defense Authorization Act for FY 2017, which now awaits the President’s signature. The bill includes several significant provisions for the innovation community, including:

Gov. Andrew Cuomo proposed a new initiative this week to grow the life science research cluster throughout the state, pledging $550 million through a variety of programs including tax incentives, state capital grants, and investment capital with an expected match of $100 million from private sector partnerships for operating support.

The National Institute of Standards and Technology (NIST) is requesting feedback on a 2017 funding opportunity that will allow the Hollings Manufacturing Extension Partnership (MEP) Centers and their partners to add capabilities to the MEP program, including projects to solve new or emerging manufacturing problems. Small and medium-sized U.S. manufacturers are encouraged to send information about their needs in four areas: critical manufacturing technologies; supply chain; potential business services, including information services; and other technologies or services that would enhance global competition. NIST also requests recommendations for other critical issues that it should consider in strategic planning for future investments. More information can be found here. Responses will be accepted through Jan. 13, 2017.

Last week, Congress passed the American Innovation and Competitiveness Act (S. 3084), which reauthorizes the America COMPETES Act. The Act does not include any funding levels for any of the programs or agencies reauthorized in the bill but does reinforce Congress’s support for research and makes adjustments to some programs. One crucial component of the bill adjusts the cost share requirement for NIST’s Hollings Manufacturing Extension Partnership to 1:1 throughout the new authorization period.

The National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL) becomes the eleventh institute in the Manufacturing USA network, U.S. Secretary of Commerce Penny Pritzker announced last week. The $70 million award marks the first institute with a focus area proposed by industry and the first funded by the U.S. Department of Commerce (DOC).

This week, we take a look at the top SSTI Weekly Digest stories from 2016 and give you an idea of what to look for in the coming months.

Ranging from diligent research to coin flips, pure chalk to cutest mascot, everyone has their own strategy for completing an NCAA college basketball championship bracket. At SSTI, we’ve completed our brackets based on NSF’s university data for R&D expenditures and doctorates produced, as well as the selection committee’s rankings. The chart included with this article displays the data.

The White House Office of Management and Budget today released America First: A Budget Blueprint to Make America Great Again, an overview of the administration’s proposal for the FY 2018 federal budget. This is a precursor for the full budget proposal, expected in May. The administration would increase spending authority for defense and security by $54 billion while decreasing all other discretionary spending by an equivalent amount.

The Trump Administration’s skinny budget proposal released today calls itself, “A Budget Blueprint to Make America Great Again.” From the information contained in the document, it is clear the Administration does not view science, technology, innovation and entrepreneurship and the economic development efforts built around those activities as the path forward to making “America great again.” The program eliminations and drastic cuts are not the way to move the country forward economically. So what is behind this proposal? Two things: 1) a fight over the proper role of the federal government in the economy, and 2) a negotiating tactic to attempt to lull advocates into thinking program survival or lesser cuts are a victory. A full community response is needed and all of us must get off the sidelines and on to the playing field.