SSTI Digest

Voters in four states will consider several TBED-related measures at the polls next week, including a $3 billion cancer research proposal, state funding for stem cell research, and an R&D bond proposal to spark job creation in emerging technology sectors.

 

Texas

Texas voters will consider 16 separate ballot items this year, including Proposition 15, a bond proposal to authorize the state to issue $300 million a year in bonds over 10 years for grants to fund scientific research at the newly created Cancer Prevention and Research Institute. Gov. Rick Perry signed HB 14 earlier this year, establishing the institute and dedicating funding of up to $3 billion, pending a voter approved constitutional amendment (see the June 27, 2007 issue of the Digest).

 

Nearly four months into the current fiscal year, Wisconsin Gov. Jim Doyle signed into law the biennial 2007-09 budget last week, investing in renewable energy, university R&D and expanding tax credits to attract angel and venture capital investment.

 

The enacted budget includes $15 million in fiscal year 2008-09 for a renewable energy grant and loan program -- about half of the governor’s recommendation (see the Feb. 19, 2007 issue of the Digest). The program authorizes the Department of Commerce to award a grant or loan to a business or researcher to fund R&D, including demonstration projects into renewable energy technologies, development of renewable energy sources and infrastructure, the commercial application of renewable energy technology sources, and construction of one or more cellulosic ethanol production plants.

 

Earlier this month, Oregon’s University Venture Development Fund began operations, which will allow the state’s taxpayers to receive a 60 percent income tax credit on contributions that will be applied toward commercialization and entrepreneurial programs at Oregon’s eight public universities. Authorized by the state legislature, the fund will enable $14 million to be provided to the universities in aggregate, with each institution’s allocation formulated by its annual income from research grants and contracts.

 

The program allows individuals or corporate donors to make unrestricted gifts of cash or publicly traded stock to one or more of the selected universities. Upon university receipt of the contribution, the donor will receive a tax credit for Oregon income tax equal to 60 percent of the original donation. The credit that can be claimed by the donor in a year is 20 percent of the original contribution or $50,000 – whichever is less and does not exceed the donor’s tax liability. Any remaining income tax credits will rollover to subsequent years.

 

Many Digest stories in recent years have described the actions of states and regions to build a stronger educational foundation in the science, technology, engineering, and mathematics (STEM) fields. The National Science Board (NSB), the policy-making body of the National Science Foundation, released its recommendations to improve the ability of all American students to receive the necessary skills and knowledge to successfully participate in the workforce of the future. In A National Plan for Addressing the Critical Needs of the U.S. Science, Technology, Engineering, and Mathematics Education System, NSB describes two central challenges of equal importance that form the core of their actionable steps: (1) Ensure a coherent STEM education system throughout the entire country, and (2) ensure that U.S. students are educated by well qualified and highly effective teachers.

 

While discussions of successful university technology transfer programs tend to revolve around a select set of high-achieving institutions, a number of less-recognized institutions are now being proposed as national models for their approaches to entrepreneurial support and regional outreach. A recent report from Innovation Associates highlights 10 colleges, universities and community colleges that are emerging as significant contributors to their regional economy through tech transfer activities. The list includes institutions that are maximizing the impact of their research investment and entrepreneurial programs despite their small size, geographic isolation, or limited R&D budget. Montana State University, Springfield Technical Community College and the University of Central Florida are listed among these emerging tech transfer centers.

The U.S. venture and angel markets appear to have fully recovered from their slump earlier this decade. Pricewaterhouse Coopers' Moneytree Survey reports that as of the third quarter, 2007 is on track to become the most active year for venture investment since 2001. Three years after hitting a tech bust low of just under $20 billion in 2003, venture firms investment surpassed $26 billion last year. Venture fundraising has been even stronger, as funds recovered from a low of less than $5 billion in 2001 to more than $30 billion in 2006. Meanwhile, U.S. angel investment has posted some impressive gains, jumping from an estimated $15.7 billion in 2002 to $25.6 billion last year, according to the University of New Hampshire's Venture Research Center. Angel investment, which had been a distinctly secondary market in past years, has become as active a market as venture investment.

Southern Growth Policies Board recently announced the launch of two new, searchable web-based tools and the redesign of its website.



The Southern.org website has been redesigned to provide users with improved navigational tools and greater access to Southern Growth's research, toolkits, best practices and publications. Southern Growth also added a scrolling regional calendar and two new, searchable online tools -- the Southern Compass News Portal and the Southern Growth Idea Bank.