In This Week's Issue
SSTI News and Analysis
MA Leaders Want $50M R&D Matching Grant Fund to Spur Job
Growth
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.
The matching grant fund would support science and technology
projects sponsored by the University of Massachusetts, research
universities or nonprofit research institutions and would require
recipients to leverage $3 for every $1 in state funding. The bill
includes $25 million in new borrowing authorization and $25 million
from a higher education bond bill established in 2008 to support
the program.
Another major component of the bill establishes within the
Massachusetts Development Finance Agency an Advanced Manufacturing
Futures program to provide grants for facilitating growth and
competitiveness in the manufacturing field. Under the program,
grants could be used for several initiatives, such as:
- Launching pilot demonstrations of best practices in delivering
innovation-based technical assistance;
- Encouraging the adoption of new technologies and advanced
manufacturing capabilities into existing companies to improve
manufacturing processes and operations;
- Education and skills training through individualized career
pathway programs that develop skills and certifications; and
- Fostering academic and industry collaboration, including
encouraging tech transfer and commercialization efforts.
The bill also provides $2 million to the Massachusetts
Technology Collaborative to establish programs that help technology
startups succeed. Of that amount, $1 million would be used to
establish a talent pipeline program that provides paid internships
to technology startups with a 1:1 matching grant requirement. The
other $1 million would be used to establish an entrepreneur and
startup venture capital mentoring program to provide assistance,
mentoring and advice to startup firms.
Lawmakers have less than three months remaining in the regular
session to pass the bill (H.
4093).
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Capture National Recognition for Your Program as a 2012 Award
Winner
Throughout our travels across the country, SSTI always is
impressed by the important work TBED organizations are doing to
improve economic conditions for their state or region. Many of
these organizations have been around for decades, and continue to
innovate and evolve, while others are just getting off the ground
with a creative approach. SSTI seeks to honor these initiatives as
part of the 2012 Excellence in TBED awards program.
Recipients of this award are invited to attend the annual
conference as guests of SSTI (a $595 value) and showcase their work
during a dedicated breakout session. Remember, you have to apply to
win! Applications are due July 17. More information and complete
instructions are available at: http://www.sstiawards.org/.
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NH Institutions Commit to Increasing STEM Grads 50 Percent
by 2020
New Hampshire's University System and
Community College System recently committed to increasing the
number of science, technology, engineering and mathematics
graduates 50 percent by 2020, and then doubling that number by
2025. Currently, the two systems together graduate about 1,120 STEM
students each year. Specific steps include the creation of new
transfer pathways, cross-institutional sharing of facilities, staff
and faculty and partnerships with the state's
employers. Read the plan...
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Puerto Rico Taskforce Releases Broadband Strategic
Plan
This week, the Puerto Rico Broadband Taskforce and Connect
Puerto Rico, a subsidiary of Connect Nation, unveiled a
comprehensive strategy to expand access to broadband services and
improve the quality of Puerto Rico's high speed
data infrastructure. Currently, about 14 percent of Puerto Ricans
lack access to any broadband services, compared to 5 percent of
U.S. households. Data transfer speeds also are much lower than in
the U.S., stifling business development, investment and innovation.
The plan includes 25 strategic goals and 40 specific policy
strategies to increase broadband adoption and availability. Read
the plan...
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Higher Pay, Benefits Among Perks for Manufacturing
Workers
Workers who pursue manufacturing jobs likely are to earn premium
wages and benefits and find work in STEM fields, thus improving
their skills and directly contributing to the
nation's competitiveness, according to a new
report from the Commerce Department's Economics
and Statistics Administration. On average, total hourly
compensation, including benefits, is 17 percent higher for
manufacturing workers compared to non-manufacturing workers. The
report also finds educational attainment for the manufacturing
workforce steadily is rising.
Read the report...
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Technology Startups Continue to Meet Revenue Targets and
Create Jobs, According to Report
For the third year in a row, technology startups met or exceeded
their revenue targets according to Startup Outlook 2012
— a new survey from the Silicon Valley Bank.
Nearly 64 percent of surveyed startup executives said revenue
performance in 2011 was at or above target levels. The will lead to
jobs with eight out of 10 companies surveyed intending to hire in
2012.
Respondents also remained optimistic about business conditions
with 61 percent reporting better conditions than a
year ago, and nearly 72 percent expecting conditions to improve
in the coming year. However, respondents prioritized six policy
recommendations to help them grow:
- Intellectual property protection;
- Controlling healthcare costs;
- Improving the regulatory environment;
- International trade/market access;
- Implementing healthcare reform; and,
- Immigration reform.
The report was compiled from responses by 270 executives of U.S.
based, early stage companies in software, hardware, life science
and clean tech sectors nationwide. The report also provides industry
specific findings for each of the four sectors. Read the report...
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Around the World in TBED
Around the World in TBED
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. Two recent initiatives, the
LIONS@FRICA Partnership and South Africa's
manufacturing incentives program, highlight the changing attitudes
on the continent. In addition, a new survey of European business
leaders found discouraging results relative to European Union
policies to improve innovation.
LIONS@FRICA Partnership
In partnership with the U.S Department of State and
other U.S. agencies, the World Economic Forum, the African
Development Bank and other partners launched a new partnership to
promote innovation and entrepreneurship in Africa. The Liberalizing
Innovation Opportunity Nations (LIONS@FRICA) partnership seeks to
mobilize the knowledge, expertise and resources of leading public
and private institutions to encourage and enhance
Africa's innovation ecosystem and to spur
entrepreneurship across the continent. Through the LIONS@FRICA
partnership, African startups will receive several services
including:
- A series of programs across the continent
featuring promising African startups and entrepreneurs;
- Venture capital roundtables;
- Innovation bootcamps; and,
- Startup Weekend events in over 20 African
cities.
LIONS@FRICA also will launch the first-ever
DEMO Africa, a global platform to connect African startups to the
global ecosystem. It will allow the most innovative African
companies to launch their products. Visit the LIONS@FRICA website...
South Africa
The South African government announced a new
six-year R5.75 billion (approximately $702 million) manufacturing
incentives program to boost South Africa's
manufacturing sector. The nation's Department of
Trade and Industry intends for the program to help the
country's manufacturers to become more
competitive in the increasingly global economy. The program is made
up of six grant types including:
- Capital investment grants to help cover up to
50 percent of an upgrade of capital equipment and expand productive
capacity;
- Green technology upgrading grants that will
cover up to 50 percent of an investment in a technology and/or a
process that will make the production process greener;
- Enterprise-level competitiveness improvement
grants to support up to 70 percent of an investment in the adoption
of improved manufacturing practices;
- Feasibility studies grants to
cover up to 70 percent of the development of a cost-sharing grants
towards developing a feasibility study for new manufacturing
projects; and,
- Cluster initiatives grant to help fund up to
80 percent of shared infrastructure project, such as a sector
technology development center, market research, international
advertising and publicity costs.
To avoid fraud, qualified business will be
allowed to receive only one grant award over the life of the
program. Read the press
release...
European Union
Seventy-three percent of European business
leaders are unaware of European Union (EU) polices to improve
innovation, according to a new survey from by Ernst & Young and
the Centre for European Policy Studies — The
Power of Simplicity. In addition, 69 percent
believe innovation policy in the EU has not matched industry needs.
The study surveyed 680 business leaders from 15 EU member states,
many of whom were presidents or c-level executives at their
respective firms. According to the report, The EU innovation
polices face five challenges:
- Innovation policy is too complicated;
- The widening funding gap between public and
private Research &Development;
- A lack of sectoral competitiveness by
knowledge industries and information technology issues;
- Inadequate infrastructure; and,
- Limited financing due to financial markets
that are disjointed and varied regulation across boarders.
The report also provides several
recommendations to address these problems. Read the
press release...
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SSTI's 2012 Webinar Series
SSTI Examines the Transformative Potential of Crowdfunding
SSTI's Webinar Series: Inspiring Thought Continues Every Third Thursday at 3:00 PM ET
Thursday, June 21, 3:00 PM-4:00 PM
Is crowdfunding just "another fad" or a "revolutionary funding method" for your organization? During this webinar, SSTI will lead a discussion on the fundamentals of crowdfunding and the JOBS Act's crowdfunding provision. Your organization also will gain insights into the legal issues raised by business fundraising through crowdfunding and the impacts of the impending SEC regulation of intermediary organizations.
Register
Today!
Featuring:
- C. Steven Bradford, Earl Dunlap Distinguished Professor, University of Nebraska-Lincoln
As part of SSTI's Membership Benefits all members receive one
complimentary webinar. Not a member? Join today and start receiving
benefits immediately. Contact Noelle at sheets@ssti.org for more
information.
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TBED People and Job Opportunities
TBED People & Orgs
Tom Walker is departing i2E to join
TechColumbus as CEO. Walker, a founding member of i2E, has
served the private nonprofit for 14 years. Walker replaces Tim
Haynes, who has been serving as interim CEO.
Mark Herzog will step down as executive director of the
Virginia Biotechnology Association
on June 1. Herzog will serve as senior vice president for corporate
and government affairs at Health
Diagnostic Laboratory, a Richmond-based company that conducts
clinical tests.
Mississippi Gov. Phil Bryant named Brent Christensen
executive director of the Mississippi Development
Authority. For the past 10 years, he has served as president
and CEO of the Gainesville Area Chamber of Commerce in Florida.
James Grunke has been named the president and CEO of the
Missoula Economic
Partnership. Grunke has been the interim director for the past
six months.
Steve VanNurden has been named president and
CEO of Fitzsimons
Redevelopment Authority, beginning in late May. VanNurden currently is
chair of Mayo Clinic Ventures.
Read more job postings
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Staff Picks
Midsize Companies Less Optimistic on Economy
Citing a fragile economy and a political divide in Washington,
executives of mid-size companies expect slower hiring and expansion
in the next 12 months.
Read more...
Private Schools Offering Discounts as Tuition Rises for
Public Colleges
Examples include schools in Ohio, Kentucky and Boston rolling
out three-year bachelor degree programs that save students 25
percent off the cost of a four-year degree.
Read more...
Bill Would Encourage More Foreign High-Tech Workers to Stay
in U.S.
Sen. John Cornyn, R-Texas, introduced a bill that would make an
additional 55,000 visas available each year for grads with master's
and doctoral degrees who have studied at U.S. research
institutions.
Read more...
Partnership to Accelerate Tech Transfer at Colorado State
University
The Innovation Center of the Rockies is partnering with CSU
Ventures to match faculty and graduate researchers with mentors and
advisors to help bring more technologies to market.
Read more...
Report Warns Institutional Investors to Step Up VC
Oversight
The Kauffman report describes how large state pension funds,
endowments and foundations may be shortchanged by their investments
in venture capital funds due to inadequate due diligence.
Read more...
White House Proposes New Rules for Foundation
Spending
The proposal would update current regulations and encourage
foundations to spend money in other ways than grants, such as
low-interest loans or stock purchases in for-profit companies.
Read more...
$15M Gift to Support Duke's Innovation and
Entrepreneurship Initiative
Launched in 2010, the initiative engages individual academic
departments in promoting and securing financial resources for
market-driven early stage and translational research.
Read more...
New Consortium to Help Community Colleges Fill Automation
Jobs
An automation competency model was introduced to community
colleges as a tool to assist them in the development of automation
education curricula to fill future jobs in advanced manufacturing
and other fields.
Read more...
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