SSTI Digest

Business incubators, known for the business support services they provide entrepreneurs, have shown themselves through the years to be a valuable resource in the process of starting and growing companies. Office and laboratory space provided at a reduced cost to tenants is just one of the benefits. Many incubators also offer access to university research, mentoring and seed and venture capital in order to encourage entrepreneurship and ensure the success of new high-technology start-up companies.

Against the backdrop of BIO’s annual meeting, held this week in Boston, Gov. Deval Patrick unveiled a comprehensive, collaborative Massachusetts Life Science Strategy. The plan includes a 10-year, $1 billion investment package to support biomedical and stem cell research. Key to the governor’s Life Science Initiative is passage of legislation yet to be introduced that will strengthen the Massachusetts Life Science Center and, according to the governor’s press release, “charge it with the execution of a life science mission focused on science and economic development, strategic investments at critical stages of the development cycle, and collaboration with the private sector to create innovation infrastructure critical to both researchers and companies.” The governor also announced his commitment to making targeted investments in companies that encourage life science economic development in the Commonwealth. Highlights of the proposal include a $1 billion investment package to provide funds to:

Please plan on joining us in Baltimore on October 18-19. You can learn firsthand how the Maryland Stem Cell Research Fund successfully secured the increase in funding and how the initiatives are progressing, all while enjoying the view of the gorgeous Inner Harbor (see related story in this Digest). In a few weeks, we'll be asking our members to evaluate ideas for conference sessions. These ratings determine the topics we focus on and the sessions being offered. While all interested parties can submit ideas, only members receive the exclusive opportunity to finalize the conference agenda by voting on session topics. You are invited to participate in the process by becoming a member today by visiting http://www.ssti.org/benefits.htm

The gradual aging of the American workforce and the domestic migration of young workers may be at fault for slow economic growth in many states that have historically been successful in promoting high-tech business, according to this year’s Index of the Massachusetts Innovation Economy. The 10th anniversary edition of the Massachusetts Technology Collaborative (MTC) publication reports that the state shows several signs of recovery from the technology bust of the early 00s, but cites accelerating population loss among 22- to 34-year-olds as a major challenge for high-tech industries. The group warns that if Massachusetts continues to lose skilled younger workers, the state will be ill-equipped to capitalize on advances in emerging technologies, such as renewable energy, nanotechnology and the life sciences.  

The fifth installment to Walkin' the Tech Talkin' Gov Walk (see the April 17, May 8, June 5 and June 12 issues of the Digest) covers the outcome of the 2006 Massachusetts legislative sessions. Following is a synopsis of bills passed and budget appropriations relevant to tech-based economic development and the priorities outlined in respective gubernatorial addresses at the beginning of 2006. Massachusetts

Massachusetts Gov. Mitt Romney named Deborah Shufrin as director of the state's Department of Business and Technology. Shufrin replaces Renee Fry, who stepped down to serve as the governor's duputy chief of staff.

The Deshpande Center for Technological Innovation at Massachusetts Institute of Technology named Leon Sandler as its new executive director.

Douglas Foy, Secretary for Commonwealth Development for Massachusetts, announced his resignation effective in March.

Harvard University President Lawrence Summers announced his resignation this afternoon. Former Harvard president Derek Bok is to serve as interim president for the university.

The challenge for industry, academic leaders and policymakers in Massachusetts over the next few years is to translate the competitive strengths of the state's economy into new companies and new jobs, the ninth annual Index of the Massachusetts Innovation Economy indicates.

While many competitor states and countries have been working through public-private collaborations to develop long-term strategic plans for future investments, Massachusetts has not had a recent collaborative effort, the report notes. Now is the time, it argues for industry and academic leaders to join with policymakers in identifying, planning and investing in the state's competitive assets for the Commonwealth's future economic vitality. Findings of the 2005 index include:

Former Massachusetts State Senator Peter Larkin is the senior vice president and chief operating officer for the Massachusetts Biotechnology Council.

As expected, Massachusetts Gov. Mitt Romney rejected last week Senate Bill 2039, the bill supporting stem cell research. Exercising a power not enjoyed by all governors, Gov. Romney sent the measure back to the legislature with four amendments for consideration, rather than vetoing the measure.

According to a May 12, 2005 article in the Boston Globe, one amendment would prohibit somatic cell nuclear transfer, or therapeutic cloning, while the other three ask the legislature to reconsider the bill's position on when life begins, to clarify monetary compensation for women who donate eggs for research, and to define the circumstances appropriate for researchers to create human life. Gov. Romney also sent a letter to lawmakers stating the bill would change the definition of an unborn child that dates back to 1974, the article states.