SSTI Digest

The Small Business Administration (SBA) announced the selection of 10 regional economic development and job creation efforts through a new pilot program, Innovative Economies, that supports small business participation in regional economic clusters. SBA's funding is designed to expand the opportunities and the role small businesses play in these regional collaborations. The awardees were selected from among 173 applicants. Awards went to organizations in: Alabama, California, Connecticut, Illinois, Michigan, Minnesota, Mississippi, North Carolina, Ohio and South Carolina. Read the full release

With 37 governorships up for election in 2010, one thing is certain: Transitions in state and local economies are on the horizon. In a special series leading up to the November elections, SSTI is tracking news, reports, and analysis from the gubernatorial candidates to report on the most pressing issues for the tech-based economic development community. Over the next several weeks, we'll highlight announcements and campaign platforms from select states across the U.S. The first installment includes competing jobs plans in Iowa unveiled by incumbent Gov. Chet Culver (D) and challenger Terry Branstad (R).

Since 2006, Michigan's economic development programs designed to transition its economy from the traditional manufacturing-based economy to an economy driven by clusters of innovative manufacturers and service providershave led to more than 24,407 direct and indirect jobs created or retained, the creation of approximately 1,500 new companies and almost 900 patents. A Foundation for the New Michigan Economyprepared by the Michigan Economic Development Corporation details the initial results of three programs —the 21st Century Jobs Fund (21st CJF), the Michigan Life Sciences Corridor (MLSC) and the Michigan Technology Tri-Corridor (MTTC) —that are designed to commercialize new technologies and increase access to capital for new and existing businesses.

The United States finished third out of 71 countries in entrepreneurship on the Global Entrepreneurship and Development Index (GEDI) according to a report commissioned by the SBA's Office of Advocacy. Denmark and Canada, respectively, were first and second due to strong scores across the three sub-indexes (i.e., Attitude, Activities, Aspirations). ). The U.S. finished first in the entrepreneurial aspiration sub-index but lagged behind in entrepreneurial attitude (6th) and activities (8th). The authors —Zoltan J. Acs and Laszlo Szerb —recommend that these findings serve as an eye-openerand not a cause for alarm. Entrepreneurship performance will remain strong in the U.S. but other countries will continue to increase their entrepreneurship performance. To keep pace with the growth of these foreign countries, the authors provide a list of policy goals that would strengthen our current score on the GEDI and resolve areas of concern.

In an attempt to solve the nation's challenges, the Obama administration recently launched challenge.gov. Challenge.gov — a prize platform that cultivates social problem solving — provides Americans with the opportunity to participate in federal government challenges. For their efforts, entrepreneurs, innovators and citizen solvers will be rewarded with prizes and recognition for solving tough problems. In the future, the site will promote and publish challenges from all the federal agencies. Challenges will cover many topics (e.g., energy, health, science) and can range from small straightforward opportunities (e.g., idea suggestions, creation of logos, videos) to large proofs-of-concept that combat difficult problems. The administration is hoping this approach will allow it to tap into new, untapped talentto accelerate innovation. Read the press release or visit challenge.gov

The Baton Rouge Area Chamber seeks an executive director for its Regional Innovation Organization (RIO). The desired candidate will be a dynamic, visionary, and entrepreneurial leader who will launch a new regional acceleration entity that will lead entrepreneurial development in the Baton Rouge area. The individual will have direct responsibility for developing programming and capacity to support best-in-class business acceleration services that prepare companies for rapid growth in the region. The individual will be charged with creating and implementing a strategy for developing an entrepreneurial culture in the region; serving as an advisor to existing incubator partners; synthesizing existing business development services and addressing existing service gaps; developing a mentoring program for high potential early stage businesses; and creating a solid network of angel, seed and early stage capital providers.

Neal Wade will resign his position as director of the Alabama Development Office in November and has been named senior vice president of economic development for St. Joe, one of Florida's largest real estate development companies.

Business Leaders for Michigan and the University Research Corridor have formed Accelerate Michigan to identify Michigan's best opportunities to grow clusters of innovation based on university-industry R&D.

Wisconsin's largest academic energy research organizations have merged to form the Wisconsin Energy Research Consortium to stimulate basic energy research discovery from funded projects. The consortium brings together the state's four largest engineering schools and eight industry partners.

Four organizations were named winners of SSTI's 2010 Excellence in TBED Award, serving as national models for states and regions investing in science, technology and innovation to grow and sustain their economies and create high-paying jobs.

"We're very excited to share with the country the success stories from these four organizations," said Dan Berglund, SSTI President and CEO. "Communities and regions across the nation working to transform their economies can learn from the positive results demonstrated by these organizations selected in part for their ability to be successfully replicated."

Awards were presented Wed., Sept. 15 in Pittsburgh during SSTI's 14th Annual Conference, Accelerating Innovation: The Road Ahead for Technology-based Economic Development, attended by some of the nation's top economic development policymakers and practitioners. The following initiatives were named 2010 recipients of SSTI's Excellence in TBED Award:

SSTI's 14th Annual Conference agenda features some of the most relevant topics designed to help your efforts to support regional innovation, and this year we're going straight to the top to find out what federal officials, governors, and state policymakers envision on the road ahead for tech-based economic development. Brian McGowan, a senior Economic Development Administration official, will kick off the conference on Tuesday, Sept. 14 at 2:00 P.M., sharing with conference attendees critical changes the Obama administration is making to drive federal economic investments toward innovation and technology. The following day features two important plenary sessions to engage the TBED community in discussion on Universities' Roles in Innovation and planning for transition in technology-based economic development presented by three Pennsylvania governors.

Pressure on state budgets is at a historic high, and, ultimately, it's going to be state legislators that will make the decisions on how limited resources are allocated. The Road Ahead: The View from Legislators will provide you the opportunity to get a candid assessment from two legislators on what is needed to build support for tech-based economic development in this tough environment and what they see as the road ahead. During this panel-style discussion, Pennsylvania State Senator John Gordner and Georgia State Representative Chuck Martin will provide their insight on a range of topics from state budgets to cultivating an "innovation champion" at your state capitol. You cannot afford to miss this session! Learn more about the session ...

What are the steps in building a successful regional alliance?
How can my region benefit from the Obama administration's vision for innovation?
Where should I look for funding now with state budgets so tight?

These questions are probably similar to questions that you are facing in this tough fiscal climate. SSTI's Annual Conference allows you to structure your conference experience around the most vital issues for accelerating your region's innovation successfully. A new addition to the 2010 conference allows you to better tailor your conference experience to resolve your questions!

Everyday more organizations are realizing the potential of mentoring programs to help assist high-tech entrepreneurs and to build stronger tech industries. In recognition of this growing trend, SSTI will feature two sessions on entrepreneurial mentoring at this year's Annual Conference. The first, Sustaining Entrepreneur-in-Residence & Mentoring Programs, will examine how these programs recruit, retain and support experieinced mentors. The second, Technology Entrepreneurship: Direct Contact Required, will look at the needs of startup entrepreneurs and the role TBED organizations can play in coaching them through the early stages of development. Join us for these exciting discussions and learn about how different programs around the country are meeting the needs of local entrepreneurs. Read more about our sessions ...