SSTI Digest

Past judges of the Excellence in TBED award program have told us they want to read a clear, concise and compelling story about how tech-based initiatives are improving local, state and regional economies. To assist applicants in their quest for the trophy, SSTI has provided several resources for writing an outstanding proposal. First, we recommend downloading the brochure, which explains the program philosophy and provides complete instructions. Writing samples from past award winners are available to gain a better understanding of what the judges are looking for in the narrative. Finally, listen to a conference call from SSTI President and CEO Dan Berglund for helpful tips and direction. Applications are due July 17! Learn more at: http://www.sstiawards.org/.

This week, the Nevada Governor's Office of Economic Development announced the ten organizations that will serve as local partners in state economic development initiatives. The new Regional Development Authorities (RDA) will lead regional economic development efforts by linking partners in their respective communities. Gov. Brian Sandoval introduced the RDA concept in his State Plan for Excellence in Economic Development earlier this year (see the Feb. 8 issue).

The Michigan Economic Development Corporation (MEDC) announced last week five new programs under the Pure Michigan Business Connect initiative established last year to provide small businesses in emerging industry sectors with economic development incentives, startup capital and support services (see the June 8, 2011 issue of the Digest).

The new programs focus mostly on providing access to capital and making connections. They include:

The Kansas Bioscience Authority (KBA) has launched a collaborative partnership of more than 90 contract research organizations (CROs) to help the region compete in the pharmaceutical and medical device industries. BioResearch Central will help promote the Greater Kansas City region as a destination for pharmaceutical R&D at a time when drug companies are increasingly looking overseas for their contract research needs. The announcement follows the release of a KBA commissioned study that suggests pharmaceutical contract research is a $90-$105 billion industry in the U.S., much larger than previous estimates.

U.S. immigration policies are irrational and undirected according to a new report from the Partnership for a New American Economy and Partnership for New York City — Not Coming To America: Why the U.S. is Falling Behind in the Global Race for Talent. In sharp contrast, to attract immigrants that drive economic growth and increase international competitiveness, foreign countries have adopted targeted and strategic policies that include:

A program envisioned nine years ago as a $1 billion endowment that would transform Oklahoma into the research capital of the Great Plains was eliminated last week by the legislature. The Economic Development Generating Excellence Fund, or EDGE Fund, which provided grants to high-tech companies, was unable to secure a long-term financial commitment from the state following an initial appropriation of $150 million in 2006. The balance of the fund, about $161 million, will be transferred to Oklahoma universities for the endowed chairs program to fund academic positions and research.

It's easy to recognize a great thing when you see it. Over the years, judges of the SSTI Excellence in TBED awards program have seen promising tech-based economic development initiatives worthy of showing off to the community. If your organization is working toward improving economic conditions through a creative approach, we want to hear about it. This is a great opportunity to capture national recognition and secure support for your program. Judges also look for strategic partnerships and a well-defined action plan. Don't forget to register for the June 5 informational call for helpful hints and tips on writing an outstanding application. More information is available at: http://www.sstiawards.org/.

House lawmakers fell short of overriding Gov. Paul LePage's veto of a $20 million bond for R&D projects that would have gone to voters in November following passage in the legislature earlier this month. The money would have been used by the Maine Technology Institute to provide competitive grants to businesses, nonprofit organizations, university research labs and others for R&D and commercialization projects through the Maine Technology Asset Fund (MTAF).

MTAF was formed in response to the voter-approved $50 million bond to help grow the state's economy through high-tech investments in 2007. Another $3 million was approved in 2010. MTAF has achieved significant results through its $53 million investment. Since 2008, MTAF has invested in 35 R&D projects across Maine and leveraged $82 million in private and federal funds to create new jobs and support new product development.

Michigan State University (MSU) launched Spartan Innovations, a newly formed subsidiary of the MSU Foundation, to help its faculty and students form spin-off companies based on technology developed at the university. To achieve this goal, it will provide five key resources to increase the MSU startups including:

• University-wide entrepreneurship education;
• Student stipends to support participation in hands-on new business learning situations;
• CEO mentors-in-residence to help manage new business startup projects;
• Access to a network of external new venture investors; and
• Gap funding to support the earliest stages of MSU technology development.

Spartan Innovations also will collaborate with MSU Technologies, the university's technology transfer office, MSU Business-CONNECT and regional partners to spur local entrepreneurship. Visit Spartan Innovations' website...

Northeast Ohio's Lorain County Community College (LCCC) plans to bring its unique approach to entrepreneur assistance to other parts of the country with support from the Kauffman Foundation. On Thursday, LCCC announced a $1 million grant from Kauffman would help establish pilot versions of the community college's Innovation Fund in three U.S. communities. The current Innovation Fund provides entrepreneurship education, mentoring and early stage funding for the region's startups. The nationwide effort, dubbed Innovation Fund America, will select its three new communities in the next few months. Read the press release...

Massachusetts Governor Deval Patrick announced the creation of the Massachusetts Big Data Initiative, a number of steps and initiatives that will help turn the state into a world leader in big data — the collection and analysis of data that is too big, growing too fast or is too complex for existing information technology systems to handle. To achieve this goal, the state will partner with several private partners and research institutions to establish several new initiatives including:

The Obama Administration has released details on this year's $26 million Advanced Manufacturing Jobs and Innovation Accelerator Challenge, a multi-agency initiative to assist in the development and implementation of regionally-driven economic development strategies that support advanced manufacturing and cluster development. The challenge will fund approximately 12 new awards, each with a project period of up to three years. The deadline for applications is July 9, 2012. An informational webinar for the Advanced Manufacturing Jobs Accelerator will be available in approximately two weeks at www.manufacturing.gov/accelerator/index.html