The U.S. Small Business Administration (SBA) is implementing a final rule, effective Aug. 17, that adds a category of Small Business Investment Company (SBIC) that will make the program a better-fit for early-stage investment strategies. The most significant change in this direction is the creation of an accrual funding mechanism that enables licensed SBICs to receive a loan from SBA that is repaid only upon distribution events or at the end of a 10-year term.

Representatives from leading AI companies (Amazon, Anthropic, Google, Inflection, Meta, Microsoft and OpenAI) gathered at the White House on July 21 for the announcement of their voluntary

The U.S.

Connecticut Governor Ned Lamont has signed into law a bill that establishes a green jobs corps program. This program will identify a talent development strategy for communities to address the impacts of climate change and reduce carbon emissions. The bill includes several provisions to accomplish those goals and a plan to market and recruit these jobs to individuals, especially from underrepresented populations.

Today, the Supreme Court ended Affirmative Action on college campuses.

On June 26, 2023, the U.S. government announced allocations from the $42.45 Billion Broadband Equity, Access, and Deployment (BEAD) program. These funds, allocated to all 50 states, the District of Columbia, and five territories, are intended to close the digital divide in the U.S., as funding will be used to deploy or upgrade broadband networks to ensure that everyone in the U.S. has access to reliable, affordable, high-speed Internet service.

This week, the U.S. Department of the Treasury approved the state of Mississippi and 15 Tribal Governments for State Small Business Credit Initiative (SSBCI) awards. Mississippi is receiving $86 million to launch four programs, including a $15 million fund investment program and an $11 million direct investment program.

As more households rely on faster forms of internet, broadband internet service has begun to be treated as a necessity in the home and workplace. But its use has varied by generation; according to Pew Research Center, 99% of US adults ages 18-29 report using the internet, while only 75% of senior citizens (65+) can say the same.

SSTI’s Annual Conference is in Atlanta this Sept. 6-8. The event will feature numerous opportunities to connect with your peers from across the country who are working to strengthen their regional innovation economies through roundtables focused on specific areas of practice and workshops on communications, building stronger organizations, and diversity, equity, and inclusion. The entire conference is available for a registration fee of just $390.

The Senate appropriations committee advanced a set of FY 2024 funding bills this morning that largely continue level funding from FY 2023.

The National Science Foundation (NSF) is expanding a network of research centers across the country to translate university-based R&D into new, and hopefully, better advanced materials. In late June, NSF announced the distribution of $162 million to support the creation of nine more Materials Research Science & Engineering Centers (MRSECs), bringing the total number of centers to twenty. Each of the new centers will receive $18 million over six years.

The Economic Development Administration (EDA) has updated its Comprehensive Economic Development Strategy (CEDS) Content Guidelines, effective April 2023. CEDS are strategy-driven plans for economic development prepared through a regionally owned planning process.

Over the last month, the Department of Energy (DOE), National Science Foundation (NSF), and National Institute of Standards and Technology 

Over the past two decades, business has done most of the heavy lifting for research and development (R&D) funding. Calculated in the dollar value of 2012, business funding increased from $10.4 billion in 2000 to an estimated $36.0 billion in 2021.

The National Center for Science and Engineering Statistics (NCSES) keeps track of these types of statistics, and the above data is from Business Sector Increases Funding for Basic Research, one of three InfoCharts released last month.

Less than half of one percent of Americans attend Ivy-Plus colleges, according to the National Bureau of Economic Research (NBER). Yet these twelve colleges account for more than 10% of Fortune 500 CEOs, a quarter of U.S. Senators, half of all Rhodes scholars, and three-fourths of Supreme Court justices appointed in the last half-century.

Commerce Secretary Gina M. Raimondo testified Tuesday to the House Committee on Science, Space, and Technology on the implementation of the CHIPS and Science Act. During the hearing, Raimondo spoke about the importance of the Regional Innovation and Technology Hubs and CHIPS manufacturing programs for national and economic security and emphasized the need for additional funding to make Congress’s vision for these programs successful.

Those who gather data know that the results collected in 2020 during pandemic shutdowns do not reveal actual trends. This phenomenon was the case for a recent survey by Babson College researchers for the Global Entrepreneurship Monitor Adult Population Survey (GEM APS). They found that rates of entrepreneurship, which had been on the rise since 2015, dropped in 2020. However, their newest research shows an upward trend in 2021 and 2022, when the U.S.

The U.S. Department of Commerce’s Economic Development Administration (EDA) recently announced the 11 recipients of the 2023 STEM Talent Challenge. The challenge supports programs to train science, technology, engineering, and math (STEM) talent and fuel regional innovation economies across the nation.

The Department of Defense announced yesterday that it issued $238 million from "Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act" funding for the establishment of eight Microelectronics Commons (Commons) regional innovation hubs. With $2 billion in funding for Fiscal Years 2023 through 2027, the Microelectronics Commons program aims to leverage these hubs to accelerate domestic hardware prototyping and "lab-to-fab" transition of semiconductor technologies.

The United States boasts the world’s largest economy and is home to many of the most prestigious, highly ranked universities across the globe, leading to a highly educated population. Overall, advanced education pays off in terms of personal earnings and national innovation. Factors like field of study, skills, and job demand can greatly affect earning potential.

As of this writing, Congress has yet to agree to fund the federal government beyond this Saturday, Sept. 30.

SBA recently announced its 2023 Growth Accelerator Fund Competition Stage Two prize winners. The 35 award-winning accelerator partnerships will receive $150,000 each in unrestricted funds.

Families and young professionals from New York and New Orleans, San Francisco and San Antonio, Omaha, and expat communities abroad are homing in on one unassuming Midwest city as the ideal place to relocate and put down roots. If you tried to guess the destination, you probably wouldn’t guess Tulsa, Oklahoma. But this city is, in fact, one of the nation's hottest relocation destinations.

Created in 1987, the NSF Science & Technology Centers (STCs) program has supported exceptionally innovative, complex research and education projects that have opened up new areas of science and engineering and developed breakthrough technologies through integrative partnerships. The recent announcement of $120 Million in NSF funding for four new centers will bring the current active center portfolio to 17.

The closely watched regional competition to identify the final two hubs of the ARPANET-H, a $2.5 Billion health innovation initiative of the Advanced Research Projects Agency for Health, has come to a close with the selection of two firms to operate the Customer Experience and Investor Catalyst elements of the national network.