SSTI Digest

Job Corneri2E has three new career opportunities available in their Oklahoma City office. These positions are designed to work directly with entrepreneurs and grow the support infrastructure of early stage companies in the region.

The positions include:

Executive Advisor - markets and manages the delivery of commercialization services to new, early stage advanced technology companies. Concept Investments Manager - to coordinate our pre-seed and proof-of-concept initiatives that provide critical funding to some of Oklahoma's most promising technology-based startups. SeedStep Angel Coordinator - to promote and maintain active Angel Group membership and positive investment activity.

 

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The Economic Development Administration (EDA) would have $15 million less available for grants next fiscal year in the budget bill approved by the Senate Appropriations Committee last week. For comparison, the relevant House Appropriations subcommittee in June approved a total budget of $317.85 million for EDA — that is $24.85 million more than the FY10 budget and a whopping $37.67 million more than the Senate.

The Senate Appropriations Committee, on the other hand, reduces EDA funding for grants from $255 million in FY10 to only $240 million in FY 11. The Senate report that accompanied the bill expresses the committee's support for investing in regional innovation clusters and incubators, also recognizing "an effective federal economic development program must transcend the conventional conceptions of urban and rural development," at the same time it was reducing the total money available for the grants.

Also taking a hit from the Senate is NIST's Technology Innovation Program, which would not receive any funding for new grants. NIST's Manufacturing Extension Partnership would receive $130 million in both bills.

VC Investment Up As Cleantech Sector Hits Record High U.S. venture capital (VC) investment rose to its highest point since mid-2008 during the second quarter of 2010, according to the latest data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers. Firms invested $6.4 billion in 906 deals last quarter, a 34 percent increase in dollars and 22 percent increase in deals over this year's first quarter. Slow but encouraging growth in venture returns have helped spark new investments, according to the NVCA press release. Seed and early stage received a notable boost last quarter, as did the life science industry. Meanwhile, the clean technology sector set a quarterly record for investment.

Read the NVCA press release at: http://www.nvca.org/index.php?option=com_docman&task=doc_download&gid=628.

According to a survey of SSTI members, the three most pressing needs for state and local TBED organizations in this economy are: how do we capitalize on the federal government's renewed commitment to growth through innovation and research? How do we encourage faster commercialization and more entrepreneurship among our local businesses? How do we more fully engage our universities in building our economic recovery and innovation-based future?

In our upcoming 14th Annual Conference, to be held Sept 14-16 in Pittsburgh, SSTI has developed three tracks at focused exclusively on helping you answer those vital questions. With a blend of engaging plenary and intensive breakout sessions, the Federal, Commercialization & Entrepreneurship and Universities tracks will provide you with the knowledge and tools necessary to successfully navigate the road ahead. We'll highlight a few examples from each below, but encourage you to review the full conference brochure to see all of the options available in the three tracks: http://ssticonference.org.

A Brookings Institution's Metropolitan Policy Program study of U.S. exports between 2003 and 2008 found that export-based businesses accounted for 8.3 percent of U.S. employment and higher wages than domestic-oriented industries. During that period, the country's 100 largest metropolitan areas produced about 64 percent of U.S. exports, including about 75 percent of the nation's exported services. Since the Obama administration has made increasing U.S. exports a national goal, the report recommends working with metro regions to create strategies that help develop their export economies through collaboration with local organizations and leaders.

North Carolina Governor Bev Perdue recently signed off on a package of economic incentives for small businesses, including tax credits for interactive digital media firms, particularly those that collaborate with the state's research universities or community colleges. Digital media companies, including video game studios, are eligible for a 15 percent income tax credit; 20 percent for higher education collaborations. The bill also provides a 35 percent tax credit for research performed within one of the state's Eco-Industrial Parks.

Read the bill ...

A recent report from the National Governors Association Center for Best Practices provides states with a blueprint to create a skilled workforce based on the success of the Automotive Manufacturing Technical Education Collaborative (AMTEC). AMTEC is a partnership of 30 community colleges and 34 auto-related plants in 12 states that worked to identify and implement improvements in technical education for workers in advanced automotive manufacturing. The report offers a model for how states can work collaboratively with industry, community colleges and each other to increase the quality and value of technical training.

Read the report ...

 

A $108.3 million increase would be nothing to refuse in a tight budget scenario, except Congress has set a goal to double the $5 billion Office of Science (OS) budget and the figure is slightly less than half of the $218 million increase the Obama administration requested for FY 11. The information is taken from the recent action by the Senate Appropriations Subcommittee on Energy and Water Development on the Department of Energy's 2011 budget. Within OS, the $2.2 billion energy efficiency and renewable energy programs would bump up by $45 million, far below the Administration requested increase of $113 million.

Read more from the American Institute of Physics.

UMass Donahue Institute is seeking a director for the economic and public policy research unit (EPPR) that consists of an outstanding team of twelve research and professional staff. Along with a commitment to public service, the ideal candidate will be a knowledge leader, outstanding communicator, program developer, collaborator and experienced manager and researcher. Familiarity with relevant research areas and potential clients in Massachusetts and New England, including industry, government, professional associations, and nonprofit organizations is preferred. Minimum qualifications include a Ph.D. in economics, public policy, sociology, or related discipline; experience in applied economic research; and demonstrated management experience.

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Crafting a regional TBED strategy is a difficult proposition. First, you figure out where you are. You check the data, conduct surveys and talk to the right people. Then, you figure out where you need to go. You look at other regions, and, again, talk to the right people. Using that information, you try to chart a course from where you are to where you want to be. The path, however, is rarely a straight line. Economic development is a messy business, and regional economies are subject to an unlimited number of factors: global economic trends, state and federal politics, the cultural cache of cities, the work of local researchers, and so on.

TBED has never been more vital to state and regional growth, but there are no easy answers. We are still in the midst of a global economic crisis that has shaken regional economies and state budgets. And there is the potential of more than 30 new governors, each with their own economic agenda.

Want to know more about the Obama Administration's innovation strategy? SSTI is pleased to welcome two key administration officials to this year's conference. Ginger Lew, Senior Counselor to the White House National Economic Council (NEC) and the Small Business Administration (SBA), and Brian McGowan, Deputy Assistant Secretary of Commerce and COO for the U.S. Economic Development Administration (EDA), will discuss the administration's plans to support innovation.

In her roles at NEC and SBA, Ginger Lew serves as the administration's economic policy advisor on a broad range of matters that impact small businesses. She co-chairs the White House Interagency Group on Innovation and Entrepreneurship and leads the White House Interagency Taskforce on Regional Innovation Clusters.

Recently, the administration has been soliciting input from around the country on the various roles that universities play in regional economic development. Ms. Lew will share some of what the White House has learned from that process, and discuss the administration's current thinking on university commercialization.

Voters in more than 30 states will go to the polls to choose a governor later this year. For TBED professionals, gubernatorial elections can mean uncertainty. Will the next administration put economic development and technology on the agenda? Will the new governor support existing agencies and programs, or will he/she introduce new initiatives? What will happen to the budget for TBED programs?

We know you have questions. That's why SSTI's 14th Annual Conference will feature leaders who can speak with unparalleled authority about the view from the governor's mansion and what it takes to create and sustain successful statewide initiatives. SSTI is honored to have three of Pennsylvania's governors for a plenary session in which they can share their perspectives and experiences. They are: