SSTI Digest

This week, Colorado legislators approved the launch of an advanced industries acceleration program that would provide grants for proof-of-concept, early stage capital and retention, and infrastructure. HB 13-1001 would create the program, which would make $150,000 to $500,000 awards to support commercialization in key industries. A separate bill, HB 1193, would launch a new five-year, $300,000 export program within the state's international trade office to help export products developed under the acceleration program. Gov. Hickenlooper proposed the programs in January (see the January 16, 2013 issue) and is expected to sign both bills. Learn more about the program...

Manufacturing creates more high-value jobs than any sector in the global economy and is essential to sustainable economic growth in both the developing and developed world, according to the Manufacturing for Growth – Strategies for Driving Growth and Employment from the World Economic Forum (WEF). Written in collaboration with Deloitte LLP, the three-volume series of reports examines key trends, effective strategies and best practices related to the global manufacturing sector in three key areas: Globally competitive manufacturing policy, Partnering for competitiveness; and, Manufacturing value chains driving growth. WEF contends a competitive tax system, free and fair trade, education and talent development, energy efficiency and technology and innovation are the key drivers behind a successful advanced manufacturing strategy. The report also provides recommendations from manufacturing executives to develop an integrated portfolio of public policies in the U.S. that spur innovation, increase competitiveness, create jobs and stimulate sustainable economic growth. In volume one of the series, the authors define the features of effective, comprehensive…

SSTI conference attendees are invited to enjoy the Ecotrust Natural Capital Center's Rooftop Terrace and take in the stunning Pearl District skyline. The Opening Reception is being hosted by Business Oregon on Sunday, Sept. 15 from 6:00 – 8:00 PM PT. The history of Ecotrust is a story of innovation, adaptation and evolution. Led by Spencer Beebe, the organization's mission has evolved into an ambitious one: to lead an American economic revolution by deploying new business models that build economic, social and environmental wellbeing. Register now and save big on SSTI's 17th Annual Conference being held Sept. 15-17 in Portland, OR - registration fees increase on June 16!

Envisioned as a comprehensive state-level program to support an entrepreneurial ecosystem, the HI Growth Initiative was approved by lawmakers to diversify the state's economy and promote the development of high-growth, entrepreneurial businesses. Backed by Gov. Neil Abercrombie, the initiative has three main objectives focused on helping entrepreneurs commercialize intellectual property, access business mentors, network with global investors, and gain access to follow-on capital. Funds will be managed by the Hawaii Strategic Development Corporation. Lawmakers approved $6 million for the effort in FY14. The governor had requested $20 million over two years (see the Feb. 27, 2013 issue of the Digest). View the bill: http://www.capitol.hawaii.gov/session2013/Bills/HB858_CD1_.PDF

Both venture capital dollars invested and total deals declined in the first quarter of the year, according to the PricewaterhouseCoopers/National Venture Capital Association (NVCA) Moneytree survey. The capital-intensive life science and clean technology sectors were particularly hard hit, along with seed and early stage investments. Within the data, however, a number of bright spots remained for entrepreneurs seeking capital. Seed and early stage investments continue to comprise more than 50 percent of all deals and first-time fundings remain within a healthy range. New reports from the University of New Hampshire's Center for Venture Research (CVR) and the annual Halo Report also suggest that the angel investment market continues to grow at a modest rate. Venture CapitalIn the first quarter of 2013, venture capitalists invested $5.9 billion, a 12 percent decrease, in 863 deals, down 15 percent, according to the Moneytree survey. Venture capital (VC) dollars invested have not been at this low a level since 2010, when the market was still in the early stages of recovery from the 2008 financial crisis. VC dollars now have declined for three consecutive quarters…

SSTI is hosting an informational call on May 8 at 3:30 PM ET to provide helpful hints on applying for the 2013 Excellence in TBED awards. Knowledge is power, and this is a great opportunity to gain a competitive edge by learning more about the application process. We also will share tips on writing an outstanding application. The awards recognize exceptional achievements in expanding research capacity, commercializing research, building entrepreneurial capacity, increasing access to capital, and improving competitiveness of existing industries. A promising initiative that has demonstrated innovativeness also will be recognized.  Register now at: http://www.sstiawards.org/.

NASA, USAID, the State Department and Nike have partnered to issue an innovation challenge for inventors to develop new, sustainable materials and methods for manufacturing fabric. The winners will have their technology presented at NASA's 2013 LAUNCH System Challenge Forum in Pasadena, CA. The LAUNCH Forum is directed by a council of entrepreneurs, scientists, government, academia, and business leaders and is used by NASA to promote sustainability initiatives, including projects related to global health, renewable energy, and agriculture. Read the announcement...

Innovation is not a causal, linear process, but a dynamic and ever-changing network of actors connected by activities and linkages, according to a report from the Council of Canadian Academies. Despite this complexity, however, by identifying behaviors that feed firm innovation, regions can make informed decisions about high-tech economic development. In the report, the council identifies quantitative ways to measure the actual and potential impact of innovation investments, along with presenting a new firm-centric model of innovation ecosystems. The report, Innovation Impacts: Measurement and Assessments, is the product of an expert panel, convened by the council, to address the issue of how to evaluate the success or failure of its efforts to build a thriving innovation-based economy. In order to deal with the complexity of how individual programs affect a larger economy, the council presents a framework to conceptualize the relationships between actors in an innovation ecosystem. Although measurement and assessment of micro-level interactions in an innovation ecosystem are difficult to capture, the authors claim the best way to assess its overall health is to…

Increase your visibility through Sponsorship Opportunities during SSTI's 17th Annual Conference in Portland, OR, Sept. 15-17. Due to numerous requests, we have unveiled highly visible interactive opportunities at the right price point. A few of the exciting options include: Exhibiting Gold Sponsor — $5,000 — SSTI believes Conference Sponsors deserve to stand out to attendees, so exhibits are placed prominently in a highly visible location and featured during the Innovation Reception. Hotel Room Key Cards — $3,500 — Attendees will see your company logo each time they unlock their hotel room door. This opportunity provides great visibility for your organization. Dine-Around Facilitator — $2,500 — Mix and mingle with conference attendees at a casual dinner as you guide your group on this fun networking dinner in Atlanta. As an SSTI Conference Sponsor, you have the chance to showcase your organization with the decision makers responsible for crafting and implementing local and state-level policies and programs that directly contribute to the nation's competitiveness. Today's marketplace is about belonging and staying…

NIST MEP has finalized cooperative agreements to create new MEP Centers in Arizona and Rhode Island. NIST is awarding $1 million to the Arizona Commerce Authority and $750,000 to the University of Rhode Island Research Foundation to serve small- and mid-sized manufacturers in their states. Read the release...

Shortly after the first anniversary of the Jumpstart Our Business Startups Act (JOBS Act — see the March 28, 2012 issue of the Digest) Mary Jo White was sworn in as the 31st Chair of the Securities Exchange Commission (SEC). In the crowdfunding and tech communities, Chairperson White's appointment sparked significant discussion about the future of SEC regulation of equity-based crowdfunding and when the regulations would be released. According to a recent Bloomberg article, Chairperson White intends to prioritize establishing rules mandated by the JOBS Act by pushing for changes that will allow hedge funds to advertise to the general consumers. Although there is no clear timeline for the release of these equity-based crowdfunding rules — experts believe it could be as early as the end of 2013 or well into 2014 — some important questions remain: Who will invest via equity-based crowdfunding platforms? What incentives are there for startups to crowdfund? How will equity-based crowdfunding work with other traditional forms of financing (e.g., banks, angel investors, venture capital)? Will investors be subject to fraud? Until the SEC releases its…

Bill Kirkland will head the new Office of Economic Engagement that will begin operations July 1 at the University of South Carolina. The new entity will facilitate business development statewide, and work through USC&'s seven regional campuses. John Carey, a former state representative, was appointed by Gov. John Kasich as the chancellor of the Ohio Board of Regents. Nancy Bryan will be welcomed as the new president & CEO of BioFlorida at their 10th Annual Celebration of Biotechnology on May 9. Nashville Mayor Karl Dean has created a new Office of Innovation to make government services more efficient and transparent, and to help with economic development. The city has hired Kristine LaLonde and Yiaway Yeh as co-chief innovation officers.