SSTI Digest

New evidence suggests that venture capitalists increasingly view international investment as the future of the industry. The 2009 Global Venture Capital Survey, conducted by the National Venture Capital Association (NVCA) and Deloitte, finds that 52 percent of venture capitalists around the world are currently investing outside their home country. Most investors also believe that their involvement with international partners will increase in the near future. Fifty-four percent of respondents predict that their number of limited partners outside their home country will increase over the next three years. Overseas investment means new opportunities for venture firms, but for U.S. firms, particularly those in areas without a strong local venture industry, this trend could mean that attracting the attention of investors will soon become even more difficult that it is now. While the U.S. is still home to more venture capital firms than any other country, most of these firms are located in California and a few other coastal states. Over the past few years, industry investment has become more, not less, concentrated in California (see the July 2, 2008 issue). This trend, along…

Green stimulus investments have the potential to yield a greater number of jobs and greater long-term prosperity than traditional stimulus investments, according to a new study presented at the recent G20 summit. The report examines the stimulus packages passed in the G20 countries, particularly their relative emphasis on spending related to sustainability. Since G20 members are responsible for three-quarters of the world's wealth, energy consumption and greenhouse gas emissions, the measures taken by these countries represent the forefront of the effort to combat global climate change. In addition, the study argues that these investments are the most effective use of stimulus funds. Study authors Ottmar Edenhofer and Lord Nicholas Stern of the Potsdam Institute for Climate Impact Research and the Grantham Research Institute on Climate Change and the Environment, respectively, break down international spending and find that green efforts represent about 15 percent of global stimulus investment. South Korea devoted the largest share of its recovery package to green efforts, 80.5 percent, followed by the European Union with 58.7 percent. The U.S. ranked sixth in green…

A recent Information Technology and Innovation Foundation (ITIF) report ranks the U.S. last among 40 countries in progress toward creating an innovation-based economy over the past decade. The findings contradict several other studies that continue to depict the U.S. as the global leader in economic competitiveness. E-government, broadband, trade balance and corporate R&D were particularly weak areas for U.S. progress relative to other countries. ITIF warns that the U.S. economy will continue its decline in innovation unless federal policymakers recognize the need for a national innovation strategy. The Atlantic Century: Benchmarking EU & U.S. Innovation and Competitiveness offers a different perspective from recent reports from the World Economic Forum and The Economist, which paint a more optimistic picture of the U.S. economy. The report uses 16 weighted indicators to assess competitiveness, including indices related to human capital, innovation capacity, entrepreneurship, information technology infrastructure and economic performance. While the U.S. ranks sixth in terms of overall score, it lags behind every other country on the list for progress made…

The Scottish Government announced last month a funding plan for the university system that directs more than 10 percent of current funding into a new Horizon Fund created to make targeted investments in research, technology transfer, and entrepreneurial development. The funding proposal is part of an overall plan to expand the role of universities in helping the country recover from the current economic downturn. The plan was based on recommendations from a joint university taskforce established last year by the Cabinet Secretary for Education and Lifelong Learning.  The Future Thinking Taskforce set forth challenges for both the Scottish Government and Universities Scotland, which represents the country's 20 institutions of higher education. Specifically, universities must demonstrate the funds they receive from the government support activities that are aligned with the Scottish Government's goals for sustainable economic growth. In return, Universities Scotland challenges the government to move into the top quartile of OECD countries for percentage of GDP invested in universities for national investment in R&D and innovation by 2028. The…

This week an estimated five million people will celebrate the first annual Global Entrepreneurship Week by taking part in one of the 13,000 events planned worldwide. Founded by the United Kingdom's Mark Your Mark campaign and the U.S.-based Ewing Marion Kauffman Foundation, Global Entrepreneurship Week is designed to foster innovation and ambition in people under 30 to encourage them to participate in the innovation economy and start new businesses. The initiative has found support from several high-profile world leaders like U.K. Prime Minister Gordon Brown, French President Nicholas Sarkozy, Singaporean President S.R. Nation, California Governor Arnold Schwarzenegger and Sir Richard Branson, founder of the Virgin Group. Organizations in 77 countries and all 50 states will participate in entrepreneurship-related activities this week including entrepreneurship challenges, student business innovation tournaments, and special networking opportunities. In the U.S., more than 880 different events are taking place. One of the most active U.S. partners, the Launch Pad at University of Miami in Coral Gables, FL will feature activities all week. Session include…

Universities in Canada are a major component of the country's science and technology ecosystem, and as gauged by funding, they performed 36 percent of Canada's R&D activities in 2007. In the U.S. comparatively, universities accounted for 13 percent of the R&D performed in the country. A breakdown of both the performing sectors and sources of R&D funding are included in two recent publications: Momentum: The 2008 Report on University Research and Knowledge Mobilization by the Association of Universities and Colleges of Canada (AUCC) and an August InfoBrief by the National Science Foundation. At 54 percent, private industry performed $15.8 billion (Canadian) of Canada's R&D in 2007. This was followed by universities performing $10.4 billion, or 36 percent. The Canadian federal government performed 8 percent ($2.3 billion) and non-profit organizations contributed to 1 percent ($324 million) of R&D efforts. Private industry was also the highest sector in the U.S. in 2007, performing 72 percent of the country's R&D efforts, or $265.2 billion. Universities were responsible for $48.9 billion, or 13 percent of the total, which was similar in size…

Bank bailouts may be capturing all of the headlines, but a new initiative from the European Union (EU) promises to inject a considerable pool of money during the downturn to accelerate the development of hydrogen and fuel cell technologies. The European Commission, as well as participants from the European research community and industry will contribute nearly 1 billion Euros (U.S. $1.28 billion) to the public-private partnership over the next six years to fund research. Stakeholders believe that this effort will help speed the commercialization of hydrogen and fuel cell technologies by two to five years, and are hoping for a mass-market rollout of these technologies before 2020. The Fuel Cells and Hydrogen Joint Technology Initiative (JTI) is one of five JTIs launched by the EU over the last year in strategic fields of industrial research. The others address technological and economic goals including reducing time-to-market for new medicines, lowering the carbon impact of air transportation, improving complex computer systems, and implementing nanoelectronic research projects. These initiatives are led by non-profits representing the interests of industry stakeholders,…

Cluster strategies show proximity is seen as an important requirement for tacit knowledge flows and the resulting economic development benefits of innovation and entrepreneurship. Research by Barak Aharonson, Joel Baum, and Maryann Feldman showed spillover benefits of agglomeration for businesses are strongest within 500 meters of a site. The benefits faded rapidly over distance - so is the reverse true? What happens when you put aspiring young entrepreneurs in the same dorm? Last week, the first group of 70 upper-year and graduate students began living in VeloCity, a combination residence hall and business incubator at the University of Waterloo in Ontario, designed for student entrepreneurs interested in mobile communications and digital media. The university has spent about $400,000 to convert a 40-year-old building into the residence, which will include a wireless device lab, wi-fi, videoconferencing space, increased bandwidth, student presentation space, a LCD wall screen, and common areas to encourage collaboration. Students interested in living within VeloCity must pass an interview process, where they are asked questions about…

The Alberta Center for Advanced Microsystems and Nanotechnology Products (ACAMP), funded with $8 million from the provincial Alberta government and $3.5 million from the Canadian government, recently commenced operations in the Edmonton Research Park. The new program will be structured around three central components to assist commercialization in this area: packaging and assembly, product development, and marketing.   As identified in the federal government’s science and technology strategy, Mobilizing Science and Technology to Canada’s Advantage (see the May 21, 2007 issue of the Digest), Alberta is poised to become a leader of Canada’s nanotechnology industry, as the province is home to Canada’s National Institute for Nanotechnology. ACAMP was developed in coordination with Alberta’s $130 million five-year nanotechnology strategy announced in 2007, which includes the goal of obtaining two percent of the world’s nanotech market by 2020.   More information on ACAMP can be found at: http://www.acamp.ca/

Tony Armstrong, Indiana University executive director for engagement, has been chosen as the Indiana University Research and Technology Corporations new president and CEO. Jeff Costantine will retire this fiscal year as president of the Nashville Technology Council. The board of directors has begun the search for a new president. Joseph G. Danek stepped down as executive director of the EPSCoR/IDeA Foundation. He will continue work at the foundation as its senior advisor and will also remain senior vice president of the Implementation Group, a Washington consulting firm. James B. Hoehn, a senior associate at the foundation, became its executive director.  Monica Doss, the longtime president of the Council for Entrepreneurial Development who stepped down earlier this year, has been named director of the Kauffman Foundation FastTrac program. Mike Edwards, former assistant vice president and director of the Office of Research at the University of Notre Dame, has been named associate vice president for research in the Office of Research and Technology Management at Case Western Reserve University. Liam E. Leightley has been tapped as the new executive director of the…

The following overview is a synopsis of select recent announcements from research parks across the world, including groundbreakings and development plans to support vibrant regional economies based on science, technology and innovation.    The Armenian government recently allocated 80 million drams (est. $266,000 USD) from this year’s state budget to build a technopark in Gyumri, reports the ArmInfo News Agency. Armenian Minister of Trade and Economic Development Nerses Yeritsyan said that all main higher education institutes of Gyumri, as well as several international organizations and donors, are involved in the project, which is slated for completion by the end of the year.   New York Gov. David Paterson announced plans earlier this year for the creation of the Central New York Biotechnology Research Center, as part of a redevelopment plan in downtown Syracuse. Officials estimate the research complex will cost $30 million to $40 million and will support biotechnology educational and research programs, with collaboration from SUNY Upstate Medical University and SUNY College of Environmental Science and Forestry. Preliminary plans…

The U.S. Department of Energy and the National Science Foundation recently announced that the U.S. had completed its contribution to the international Large Hadron Collider (LHC) Project on budget and ahead of schedule. By the end of the year, the LHC at the European Organization for Nuclear Research (CERN) laboratory near Geneva will generate its first particle collisions and research output. Total U.S. contribution to the project is about $531 million of the $5.89 billion cost of the project. Although the U.S. is not a CERN member state, U.S. scientists will comprise the largest contingent from any single nation. LHC operations are expected to yield greater understanding of particle behavior under circumstances that cannot currently be observed. Accelerating and colliding particles with the energy concentrations generated within the LHC may reveal a great deal about the origin and nature of mass, dark matter, dark energy, and anti-matter, and could lead to the development of a unified theory of universal forces. The accelerator will be the largest collider on Earth and will tap a distributed computer network that will represent the world’s most powerful…