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TBED Mergers, IPOs and Foreclosures
In January, Rhode Island's Tech Collective announced the creation of BioGroup, a subsidiary to focus on the needs of the state's life science industry. The new organization will serve as the state affiliate to the Biotechnology Industry Organization (BIO).
The San Diego Regional Technology Alliance has become a component of CONNECT at the University of California-San Diego. Under the new name, RTA@CONNECT, the Alliance will focus on delivering training and entrepreneurial assistance services.
The Tucson area's economic development efforts were centralized with the creation of the Regional Economic Development Corp. in late January. Staff are expected to be shifted to the new group from the Tucson Office of Economic Development, which is closing, and from Pima County. The Tucson Citizen reported the merger "virtually" closes the Greater Tucson Economic Council by eliminating public support of $710,000 for the council activities. The Regional Economic Development Corp will have a combined budget from the city and county of $5 million for its first year.
The Kansas City Star reported mid-January that the board of the four-year-old KCCatalystvoted to cease operations as soon as possible for financial reasons.
New Mexico Gov. Bill Richardson announced the state is seeding the creation of the New Mexico Micro and Nano Technology Partnership, one of several cluster-based economic development collaboratives proposed for the state. Founding partners include universities, private businesses and the federal labs within New Mexico.
The Keiretsu Forum announced the creation of a Los Angeles Chapter in mid-January. Founded in San Francisco in 2000, the angel investor network now boasts more than 300 members nationwide.