SSTI Digest

With the number of startups on the rise, several states and cities are reaching out to entrepreneurs to connect them with the assistance and capital they need to survive.

Indiana
The Indiana Economic Development Corporation (IEDC) has launched a new initiative to connect entrepreneurs to sources of early stage capital. The INVEST Indiana initiative will use the resources of Indiana's 21st Century Research and Technology Fund to build a statewide network of entrepreneurs, private sector investors and regional stakeholders. This public-private network will provide new ventures with access to experienced entrepreneurs and will actively seek out new, non-traditional sources of capital.

A new nonprofit, Elevate Ventures, has been commissioned to engage investors and work with regional stakeholders. The group hopes to attract federal and private funding to develop regional entrepreneurial action plans across the state.

Find out more about INVEST Indiana at: http://www.in.gov/portal/news_events/67630.htm.

The third installment of SSTI's Tech Talkin' Govs' series includes excerpts from speeches delivered in Colorado, Georgia, Nebraska, and South Dakota. The first and second installments are available in the Jan. 5 and Jan. 12 editions of the Digest.

Colorado
Gov. John Hickenlooper, State of the State Address, Jan. 12, 2011
"We also hope that every bill you consider passing will be viewed through the lens of its impact on our economic growth. ...

"... For example, we know there are several bills you are considering that will establish a venture capital fund for small businesses. We will work with you on these proposals and create strong public-private partnerships.

Climbing back from a deep recession without over burdening taxpayers is a main focus of this year's legislative session for many states, leaving little room for bold initiatives needed to position state and regional economies for future growth. Nebraska Gov. Dave Heineman, however, is asking lawmakers to look beyond the state's current conditions and invest in economic sectors he says are likely to create high-quality jobs and enhance the state's "economic momentum."

Two measures, one dealing with improving access to higher education in Alaska, and another focusing on economic growth through renewable energy in Nebraska, recently were approved as part of the 2010 legislative sessions. Lawmakers in Alaska passed a measure establishing a merit-based scholarship program championed by Gov. Sean Parnell, but left funding for the program uncertain. Meanwhile, Nebraska legislators passed a bill to promote economic growth through renewable energy export.

Alaska
Lawmakers passed a measure creating a merit-based scholarship program for higher education that includes many of the same elements proposed last year by Gov. Sean Parnell, with the exception of a funding mechanism. SB 221 establishes the Alaska Merit Scholarship Program providing grants for students who complete a more rigorous high school curriculum, including four years of math and science. Legislators scrapped a plan proposed by the governor that would have allocated $400 million to initiate the program by tapping into the interest earned on budget reserve funds.

A bill being debated in Congress would provide federal support for the development of research parks, a major contributor to scientific discovery, technology commercialization and new company formation. S. 583, entitled the Building A Stronger America Act and introduced earlier this year, would make available grants and loan guarantees for the development and construction of science parks to promote the clustering of innovation through high technology activities. The Senate Committee on Commerce, Science and Transportation will hear testimony today in support of the legislation from Brian Darmody, President of the Association of University Research Parks and Charles Wessner of the National Research Council. Over the past few months, several announcements for development of new research parks have been made from around the world. Following is an overview of select announcements.

During the last week of the legislative session, Nebraska Gov. Dave Heineman signed two bills into law - one dealing with R&D tax credits and the other authorizing the development of a statewide biotechnology strategic plan. The biotech plan, as outlined in LB 246, calls for the creation of a nonprofit corporation to provide research assistance and recommendations to the Legislature's Natural Resources Committee by June 30 of next year. A finalized plan must then be presented by the committee to the Legislature.

Urban universities often have to cope with issues of land scarcity unique to their high density settings. In many cases, it’s because of their own success as an attractive magnet for other activities. The result? Major expansions can take years of negotiation and planning – and top dollar – to accomplish. In addition, tensions with neighbors and community sometimes arise over new development or incompatible land use. Some municipalities may struggle in a love-hate relationship with the colleges, welcoming the above-average wages of academic employment and accompanying economic growth, yet fretting over losing tax base as schools acquire more land.

A growing number of state governments face revenue uncertainties in the near future. More than half now expect budget deficits and shortfalls in the upcoming fiscal year and beyond. Despite the bleak outlook, however, legislators nationwide are continuing to invest in science and technology with many lawmakers projecting high returns to their state in the coming years. Following are highlights of TBED investments and reductions in recently approved budgets in Kentucky, Maine and Nebraska.
 
Kentucky
Recognizing the statewide economic benefits of strategic investments in university research, Kentucky legislators concurred with Gov. Steve Beshear’s proposal to continue support for the Bucks for Brains initiative. Lawmakers approved $60 million in bonds under the fiscal year 2008-10 biennial budget agreement to expand the state’s endowment matching program used to attract high-quality researchers. 
 

Traci Hancock was named executive director of BioNebraska.