SSTI Digest

Crisp, clean air, blue waters and autumn leaves are just a few reasons why fall is the best time to visit Northeast Ohio. Cleveland was ranked as the number one “Most Livable City” in the U.S. by the Economist in 2005, primarily because it has all the benefits of a major city without sacrificing quality of life. Cleveland+ is home to major research institutions and healthcare organizations; major league sports teams; world-class cultural institutions; and great museums and entertainment attractions. Also considered an up-and-coming food destination, Cleveland offers some of the best, elegant, unique and casual fare around. Don’t miss out on your opportunity to network and meet a few new friends over dinner. SSTI is organizing a dine-around Cleveland with small group reservations being held at several exclusive establishments around the city. Sign up at the conference registration desk. More information on Cleveland events is available at: http://www.ssticonference.org/Conf08/cleveland.htm

SSTI conference “regulars” know that this event is the field’s most stimulating and rewarding professional development investment one can make. Each year’s agenda provides new perspectives and approaches to dealing with common problems, new issues and the latest trends and challenges facing your efforts to encourage regional innovation. You can expect:

• In-depth examinations of some of the best state and regional approaches to cultivate a bright economic future.
• Unparalleled networking with the right people within the tech-based economic development community.
• Stimulating dialogue and thought-provoking exchange between great thinkers, old friends and new peers from across the country.
• Renewed energy and personal resolve to address the challenges of strengthening your state or local economy.

SSTI’s 12th Annual Conference is made possible by the support of our lead host sponsor, NorTech, a team of Ohio co-hosts, and the generous support of our national conference sponsors. SSTI extends its appreciation and thanks to the following exemplary organizations serving as our national sponsors:

• Kansas Technology Enterprise Corporation
• Greater Oklahoma City Chamber
• GSP Consulting
• National Centers of Excellence (NCOE)
• Ben Franklin Technology Partners
• Georgia Research Alliance
• Kentucky Cabinet for Economic Development
• Maine Technology Institute (MTI)

Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.

The KTEC Pipeline is seeking a program director to work with its president to help sustain the KTEC Pipeline fellowship program and related entrepreneurial programming. This position assists the president in many areas, including cirriculum development, finanicial organization, program tracking, sponsorships, publications, alumini programming and outreach, mentor programming, and presenter/speaker recruitment. A bachelor’s degree and three years of experience in one of the following fields is required: entrepreneurial ventures, finance, program management, or public policy related to entrepreneurship or economic development.

Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.

The Michigan Economic Development Corporation (MEDC) is seeking someone to serve as its manager of business and community services. This position is responsible for oversight of staff that administers several state and federal incentive programs to assist in the growth of Michigan companies and the creation of jobs, including Economic Development Job Training, Renaissance Zone and Community Development Block Grant Programs. A bachelor’s degree in any major is required. In addition, candidates should have two years of experience as a professional manager or program/staff specialist, or equivalent experience.

Texas Gov. Rick Perry's Competitiveness Council has released its recommendations following a year-long study of the state challenges in the global economy. The study found that Texas lacks the institutional organization to execute transformational economic programs and will require greater collaboration between state agencies to remain competitive in high-tech industries.

Most Digest readers know access to equity capital serves a critical role in encouraging regional innovation. But the stats on venture capital (VC) deals demonstrates all too well that money isn't flowing freely everywhere. The economy also is presenting challenges for equity deals, making exits more scarce. How can underserved areas attract early-, seed and late-stage capital?

Keeping with the underlying theme of "Where Does TBED Go from Here?" for SSTI's 12th annual conference, we are quite excited to announce David Wilhelm, founder and President of Woodland Venture Management, will provide the keynote address on the topic of making successful VC investments anywhere.

Entrepreneurship education courses continue to appear across the country. A large-scale commitment was announced recently, as eight Arkansas two-year colleges will offer degrees and certificates in entrepreneurship this fall. The broad availability is expected to help create a culture of entrepreneurship that extends from regions capitalizing in the emerging fields of bioscience and nanotechnology research to the rural pockets of the state in need of high-paying jobs.
 
Last month, the curriculum was approved by the Arkansas Higher Education Coordinating Board, prompting eight of the state’s 22 community and technical colleges to join a consortium with two additional schools seeking approval in October to begin implementing the curriculum. The degree option is for an Applied Associates Degree in Business Management or a stand-alone certificate in Entrepreneurship.
 

Gazelles, a small subset of firms that grow rapidly over a period of years, are believed by many to have a disproportionate impact on the U.S. economy. Though the precise definition of gazelle firms differs between studies, these businesses are recognized as a dominant force in economic and employment growth. A recent paper by Zoltan Acs, Wiliam Parsons and Spencer Tracy, published by the Small Business Administration's (SBA's) Office of Advocacy, confirms this belief by finding that a very small percentage of firms are responsible for almost all revenue employment growth in the U.S. These high-growth firms can exist in any industry, but on average, they are younger than the average business. Still, the average age for a high-growth firm is 25 years, older than the nascent businesses that are the focus of much TBED activity and regional growth strategies. The study suggests that regional and state policymakers should follow a balanced approach that supports both new and expanding businesses.

According to statistics released last week by the Bureau of Economic Analysis (BEA), per capita personal income in the U.S. was $38,632 in 2007, a 22.6 percent increase since 2003. Over this same five-year period, 118 of the country’s 363 metropolitan statistical areas experienced an increase in per capita income greater than the U.S. rate of growth. SSTI has prepared a table for all 363 U.S. metro areas, showing the change in per capita income from 2003 to 2007.

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.
 

Four leading members of the technology-based economic development community were elected to the State Science and Technology Institute (SSTI) board of trustees today, each bringing fresh perspective and unique insight on issues affecting SSTI’s nationwide network of policymakers and practitioners working to improve state and regional economies through science, technology and innovation.
 
The four will join SSTI’s existing nine trustees in providing strategic guidance and oversight for the organization’s 39 state sponsors and 148 affiliates and supporters. Representing government, higher education and industry sectors, the new appointees are: