SSTI Digest

Gov. Jim Doyle announced two new initiatives focusing on investments in manufacturing R&D and increasing angel and venture capital investment to grow new businesses.   With the goal of remaining globally competitive, the governor’s new Innovate Wisconsin initiative offers tax incentives to encourage manufacturers to increase R&D. Specifically, the plan calls for new ‘Innovate’ tax credits that are given to companies who increase spending on R&D by 25 percent over their three-year average. Companies would receive a $1 tax credit for every $1 spent above this threshold, which is capped at 50 percent of its tax liability, according to the governor’s office. Additionally, the plan calls for machines and equipment used in manufacturing R&D to be exempt from sales and property tax.  

With rumors of recession building, several of the nation’s governors are announcing new TBED-focused initiatives in 2008 – many of which will be presented to lawmakers for funding in the coming months. In Illinois, Gov. Rod Blagojevich unveiled two new initiatives encouraging entrepreneurship to grow high-technology businesses throughout the state.  

The average cost of bringing a Food and Drug Administration-approved drug to market could be cut by 25 percent to 48 percent by making targeted investments in the national biopharmaceutical R&D technology infrastructure, according to a recent report from the National Institutes of Standards and Technology. Economic Analysis of the Technological Infrastructure Needs of the U.S. Biopharmaceutical Industry cites current costs as averaging $560 million per drug, but could drop to between $289 million and $421 million. Furthermore, these improvements can reduce the time from drug identification to clinical trial completion from a current average of 11 years to sometime between 8-10 years.  

As you begin to fill in your 2008 calendar, remember to mark Oct. 14-16, 2008, to attend SSTI's 12th annual conference in Cleveland! Past attendees know SSTI's conference is the premiere professional development event for the TBED community. And 2008 will be no exception. Back by popular demand, we will be offering an array of pre-conference workshops on Oct. 14. The InterContinental Hotel Cleveland, site of this year's conference, is built with state-of-the-art conference technology, including an automated response system to maximize the interaction between the audience and speakers. The hotel is located in the heart of the Cleveland Clinic, which is ranked among America's top three hospitals by U.S.News & World Report.

Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm. The BioBusiness Alliance of Minnesota, a nonprofit organization that represents Minnesota companies, academia and government, is seeking a bio-network specialist. This position will report to the BioBusiness Alliance CEO but will work in close partnership with the Southern Minnesota Initiative Foundation and other statewide constituents to support the growth of biobusiness in greater Minnesota. A bachelor’s degree is required; a master’s or Ph.D. degree is preferred.

Bill Bradley is the new executive director of the Jay County Development Corp. Bradley fills the vacancy left by the late Bob Quadrozzi. Traci Hancock was named executive director of BioNebraska. Peter Hermann was selected as the N.C. Technology Association's new CEO. Hermann replaces Joan Myers, who took a position with a software company. John McIver is serving as interim vice president for research and economic development at the University of New Mexico while the school searches for a permanent replacement to Terry Yates, who passed away in December. Gary Margules was appointed vice president for research and technology transfer at Nova Southeastern University.

Bill Bradley is the new executive director of the Jay County Development Corp. Bradley fills the vacancy left by the late Bob Quadrozzi.

Traci Hancock was named executive director of BioNebraska.

Peter Hermann was selected as the N.C. Technology Association's new CEO. Hermann replaces Joan Myers, who took a position with a software company.

John McIver is serving as interim vice president for research and economic development at the University of New Mexico while the school searches for a permanent replacement to Terry Yates, who passed away in December.

Gary Margules was appointed vice president for research and technology transfer at Nova Southeastern University.

New Carolina, South Carolina's Council on Competitiveness, has formed the South Carolina Engineering Cluster. Lee Stogner will lead the cluster and its steering committee, which represents government, economic develoment, academia, engineering companies and professional societies aiming to promote engineering in South Carolina.