SSTI Digest

Indiana University is launching a $10 million venture capital fund to invest in technology companies coming out of the university. Half of the fund will be dedicated to seed- and early-stage companies, while the other $5 million will support later-stage firms. Last month the university dedicated a new $10 million Innovation Center, which will work with the fund to support university-affiliated companies.  Read more at: http://newsinfo.iu.edu/news/page/normal/12745.html

The recent creation of the Energy Alliance of Southwestern Pennsylvania is intended to advance the energy-related economy of the Pittsburgh region by funding companies, coordinating projects, devising policies, and marketing the region's assets. While staff for the Energy Alliance will come primarily from the Allegheny Conference and Innovation Works, other partners of the effort include the University of Pittsburgh, Carnegie Mellon, and various energy-related firms in the region. Specific sectors within both the traditional and alternative energy fields have been targeted by the Alliance, including the advancement of natural gas extraction, in part due to Pittsburgh's proximity to the Marcellus Shale – one of the largest natural gas reserves in the world. Read the full press release from the Allegheny Conference..

Shortly after President Obama announced that the federal government would seek out new partnerships with private companies to improve science and technology education in the U.S., the Arizona Technology Council unveiled three new offerings for Arizona students. The group will collaborate with tech companies and nonprofits to hold a statewide science fair, to develop a four-year engineering curriculum for high school students and to create an online directory of STEM opportunities.  Read more at: http://www.businesswire.com/news/home/20091207006079/en

In FY2007, the states in aggregate expended $1.23 billion in funds for research and development, according to recent data released by the National Science Foundation. This is the second year consecutive annual data from the NSF's State Agency Research and Development Expenditures series has been produced. SSTI has prepared a table that shows for both FY07 and FY06 each state's expenditures for R&D from the state government, the state's GDP, and the spending intensity as measured by R&D expenditures per million dollars of GDP.

While New York led the country with $128.4 million in state R&D expenditures in FY07, it spent $116.41 on R&D funding for every million dollars of its GDP. The only other two states to have more than $100 million in R&D state spending in FY07 were Ohio and Pennsylvania.

Wyoming led the U.S. in state R&D funding intensity, expending $618.77 in R&D for every million dollars of its GDP. The next four states leading in R&D per GDP were Maine, West Virginia, Hawaii, followed by North Dakota. These top five states are all EPSCoR states.

A bill being debated in Congress would provide federal support for the development of research parks, a major contributor to scientific discovery, technology commercialization and new company formation. S. 583, entitled the Building A Stronger America Act and introduced earlier this year, would make available grants and loan guarantees for the development and construction of science parks to promote the clustering of innovation through high technology activities. The Senate Committee on Commerce, Science and Transportation will hear testimony today in support of the legislation from Brian Darmody, President of the Association of University Research Parks and Charles Wessner of the National Research Council. Over the past few months, several announcements for development of new research parks have been made from around the world. Following is an overview of select announcements.

The Information Technology and Innovation Foundation, a Washington, DC think tank, is accepting applications for two positions described below:

• Communications Director: This is a permanent, full-time position reporting to the president of ITIF. It is an exciting opportunity for someone who would like to not only deepen their policy expertise, but also influence the public debate on critical innovation policy issues. Read more…
• Innovation Economist: This is a temporary opening (one year) with the possibility of renewal for additional years for an economist with a research interest in neo-Schumpeterian economics, with a particular focus on the economics of global warming and the role of innovation in addressing it. Read more…

Read more job postings

Robert Fritzinger has been named the director of the new SUNY Fredonia Business Technology Incubator.

Ioanna Morfessis, a consultant from Phoenix, was unanimously appointed as the executive director of the Rhode Island Economic Development Corporation by the board of directors. Morfessis is expected to start work in January, and will serve as acting director until the Senate confirms her appointment.

Alan Rebar, senior associate vice president for research and executive director of Discovery Park, and Richard Cosier, dean and Leeds Professor at the Krannert School of Management, have been named to lead Purdue University’s Burton D. Morgan Center for Entrepreneurship.

President Barack Obama recently launched Educate to Innovate, a campaign to partner with nonprofits and private companies to encourage K-12 students to pursue careers in science and technology. Initial partners include the MacArthur Foundation, the Bill and Melinda Gates Foundation, Time Warner Cable, Xerox, Kodak and Discovery Communications. The campaign will focus on involving students in STEM education opportunities outside of school. Read more at: http://www.whitehouse.gov/blog/2009/11/23/next-generation-innovators

Virginia Governor Tim Kaine announced the creation of The Ignite Institute, a nonprofit medical research institute to be housed initially at the Center for Innovative Technology. The state will provide $3 million from the Governor's Opportunity Fund and $22 million in incentive grants, subject to General Assembly approval. The institute expects to draw $200 million in initial financing and create 415 jobs. Read more at: http://www.ignitehealth.org/.

To foster strategic investments and policies in the knowledge and innovation economy, Gov. Bev Perdue recently signed an executive order establishing the North Carolina Innovation Council. The council is responsible for advising the governor on public and private investments and polices to promote innovation, move innovative ideas from the lab to the marketplace more efficiently, and strengthen collaboration among business, academia, and local government. A press release is available from the governor’s office at: http://www.governor.state.nc.us/NewsItems/PressReleaseDetail.aspx?newsItemID=773

Entrepreneurial activity in the U.S. increased from 9.6 percent in 2007 to 10.8 percent in 2008, according to the Global Entrepreneurship Monitor 2008 U.S. Entrepreneurial Assessment. Though the report found that fear of failure was on the rise among potential entrepreneurs, survey respondents indicated that they still believe there were ample opportunities for new businesses. Read the full report at: http://www.gemconsortium.org/article.aspx?id=131

Governors across the nation are trying to find ways to prevent their state finances from falling further in the red as revenues continue to fall while costs for Medicare and unemployment remain high. Deficit-reduction plans announced in two states seek to delay payments and cut funding to biomedical research initiatives that were established to expand the states’ research capacity and generate wealth.

Connecticut
Aiming to close a deficit of nearly $470 million in the current fiscal year, Gov. Jodi Rell announced a deficit-mitigation plan that includes delaying payments of $10 million to the state’s Stem Cell Research Fund and $6 million to the Biomedical Research Trust Fund. The Stem Cell Fund was established in 2005 with a budget surplus of $20 million to be used in fiscal years 2006 and 2007 and supplemented with $10 million per year from the Tobacco Settlement Fund through 2015 (see the May 30, 2005 issue of the Digest).