SSTI Digest

The U.S. lags behind many of its G-20 partners in clean energy finance and investment, according to a new study by the Pew Charitable Trusts. Many factors, including a tight credit market and the lack of a strong national framework for clean energy funding, are cited as contributing to the U.S.'s declining position in the ranks for total investment and investment intensity. As of 2009, China has taken the U.S.'s former top spot in overall clean energy investment, dedicating $34.6 billion to the sector. Spain leads the G-20 nation's in investment intensity, while the U.S. ranks 11th. The report also points out that the U.S. has yet to put into place several national clean energy policies that are becoming standard among G-20 countries.

Five bills in support of Gov. Bob McDonnell's "Jobs and Opportunity Agenda" were signed into law this week, including a measure to exempt the capital gains tax on investments in science-based or biotech startups, designed to provide a significant incentive for investors in technology start-ups.

Under the bill (SB 428/HB 523), qualified investments in a technology, biotechnology, or science-based startup company in the Commonwealth with less than $3 million in annual revenues will be exempt from capital gains tax. Investments must be made between July 1, 2010 and June 30, 2013.

Sweden replaced Denmark as the world's most networked economy and the U.S. fell two spots to fifth place in the Global Information Technology Report 2009-10 rankings. The report, released last week by the World Economic Forum, finds that the U.S. boasts a very conducive information and communication technologies (ICT) environment because of intensive competition, excellent infrastructure and top-notch education. Aspects of the U.S. performance which show margins for improvement include high tax rates, excessive red tape, and a poor general regulatory framework.

The report also finds that while the U.S. ranks 2nd in ICT usage with businesses and the government fully leveraging ICT, individual usage is less satisfactory. This is mainly a result of comparatively low mobile subscription penetration rates, according to the report. The top 10 are Sweden (1), Singapore (2), Denmark (3), Switzerland (4), United States (5), Finland (6), Canada (7), Hong Kong SAR (8), Netherlands (9), and Norway (10).

Gov. Arnold Schwarzenegger last week signed a bill creating a sales tax exemption for equipment used by clean-tech manufacturers — a measure the governor hopes will attract entrepreneurs investing in the clean energy sector. SB 71 is part of the governor's $500 million jobs initiative announced during his State of the State address that aims to train up to 140,000 workers create 100,000 jobs. The enacted legislation will allow the state to maintain a competitive edge by expanding the range of projects that may be approved for a sales tax exemption to include all clean-tech manufacturers, according to a press release. The enrolled version of the bill is available at: http://www.leginfo.ca.gov/pub/09-10/bill/sen/sb_0051-0100/sb_71_bill_20100322_enrolled.pdf

David Onley, Ontario's Lieutenant Governor, announced earlier this month a plan to add space in colleges and universities for 20,000 students this year with the goal of raising Ontario's postsecondary enrollment rate to 70 percent. The plan also includes the creation of a new Ontario Online Institute and the development of a strategy to improve the quality of Ontario's postsecondary education system with input from leaders in education and business. The announcement is part of the five-year Open Ontario Plan that also includes a new Water Opportunities Act, targeting the clean-water technology sector among other initiatives. Read the press release.

The United Kingdom's new space agency will begin operations on April 1. The UK Space Agency will consolidate the U.K.'s civil space efforts and spur activity within the aerospace technology sector. A new $60.3 million International Space Innovation Centre within the European Space Agency facility also was announced. More information is available at: http://www.bnsc.gov.uk

The Minnesota legislature has passed a 25 percent tax credit for individuals and pooled funds that invest in early-stage high-tech businesses as part of a new jobs bill. Up to $17 million in tax credits will be available in FY11, with $12 million a year available in FY12 and afterward. The credits apply to investments in companies with fewer than 25 employees and less than $2 million in private capital.  Read the complete bill.

SSTI's interview with Bob Starzynski of Innovation Works' Innovation Adoption Grant Fund, 2009 recipient of the Excellence in TBED Award in the category Improving Competitiveness of Existing Industries, provides an honest, in-depth account of best practices and lessons learned that earned this program national recognition. Click here to listen to the interview and learn more about the program.

Bryan Allinson has joined Ohio University as director of technology transfer.

Martha Connolly, director of the Maryland Technology Enterprise Institute Maryland Industrial Partnership program (MIPS) at the University of Maryland, was given the President's Award at the Greater Baltimore Committee's fifth annual Bioscience Awards ceremony. In 2007, the MIPS program received an SSTI Excellence in TBED Award in the Improving Competitiveness of Existing Industries Category.

Stephen Cross has been selected as Georgia Tech's executive vice president for research. Cross has served as vice president and director of the Georgia Tech Research Institute since 2003.

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