SSTI Digest

SSTI's interview with Peggy Shults of the James and Esther King Biomedical Research program, 2009 recipient of the Excellence in TBED Award in the category Expanding the Research Infrastructure, provides an honest, in-depth account of best practices and lessons learned that earned this program national recognition. Click here to listen to the interview and learn more about the program.

Florida's efforts to boost it's biotechnology sector may not be paying off as quickly as originally hoped. A recent report finds that the $449 million invested through the Innovation Incentive Program has yet to result in industry growth in counties where the program's grantees have their facilities. The report, published by the Florida Office of Program Policy Analysis and Government Accountability (OPPAGA), suggests that the state's lack of early-stage capital for biotech startups may be contributing to the sluggish pace of development.

Replenishing the Innovation Incentive Fund and investing in space industry, public research, and green energy technologies are among Gov. Charlie Crist's FY11 budget recommendations to grow the state's innovation economy and establish Florida as a pre-eminent global hub. The governor's budget includes $100 million for the Innovation Incentive Fund, which was established in 2006 to attract R&D companies and create high-wage jobs. The fund was depleted in 2008 (see the May 7, 2008 issue of the Digest).

Space Florida would receive a total $32.6 million, of which $20 million is slated for business recruitment activities in order to provide the necessary resources that align with a new national approach to space exploration, according to budget documents. To provide financing for new and expanding space businesses, the governor recommends $10 million. Another $3.8 million is set aside for general operations, $3.2 million for workforce development, and $3 million to fund targeted projects for business development and recruitment.

Enterprise Florida released its latest five-year strategic plan for the state, calling for increased investment in STEM education, university research, commercialization assistance and early-stage capital access programs. Florida must diversify its economy and strengthen its high-tech industries in order to reduce the state’s reliance on population-based growth, according to the report. Enterprise Florida also endorses a cluster-based strategy to promote high-tech industries based on their relative levels of development in the state.

The strategic plan identifies three categories of industries that are vital to the state’s economic diversification.

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.

Kathy Collins has been appointed as the Wisconsin Entrepreneurs’ Network (WEN) regional director in Madison. Previously, Collins worked as the technology and financial development manager in the Commerce Division of Business Development.

Ron Cox has been appointed as the assistant dean for economic development in the engineering college at Iowa State University. He retains his current position as director of CIRAS, the Center for Industrial Research and Service.

Frank DiBello, a veteran aerospace consultant who’s been Space Florida’s interim president since May, was named as the permanent leader of the aerospace development agency.

Utah Gov. Gary Herbert appointed businessman and philanthropist Spencer Eccles to lead the Governor’s Office of Economic Development. Eccles, son of the former First Security chairman and CEO Spencer Eccles, will be joined by Josh Romney, son of former Massachusetts governor Mitt Romney. The younger Romney will serve as the state’s national business recruitment policy advisor.

As economists and policymakers debate the details of how and when the nation will recover from the recession, the topic of entrepreneurship and the role it will play in shaping the new economy continually arises. In the coming years, some analysts predict a rise in entrepreneurship both as a result of massive layoffs and an aging workforce not yet ready or able to retire. Highlighting the correlation between joblessness and the uptick in entrepreneurship, several recent news articles have featured stories of the unemployed forgoing disappointing job searches and the corporate environment to pursue business ownership.

The Piedmont Triad Research Park laid off Bill Dean, director of the park, and Nancy Johnson, marketing director. Park officials said that the park's project manager and executive assistant also were laid off.

Colorado Gov. Bill Ritter announced that he has tapped Don Elliman, director of the Colorado Office of Economic Development, to serve as the state government's first chief operating officer.

Gov. Charlie Crist signed Florida's $66.5 billion 2009-10 budget into law last week, providing a mixed bag of funding outcomes for the state's existing economic development programs.

The two main components of the Florida Biomedical Research Programs administered by the Florida Department of Health emerge with large funding increases. The James and Esther King Biomedical Research Program will be given $27.2 million from the state biomedical research trust fund in FY09-10, up from $9.9 million in the previous year. Similarly, the Bankhead-Coley Cancer Research Program will receive $25.0 million, an increase from $9.0 million last year.

LEESBURG -- Lake County commissioners agreed to partner with the city and the University of Central Florida to beef up a business incubator in hopes of attracting more start-up companies.

The partnership includes $85,000 in county funds for the UCF Research Foundation to support the incubator's staffing. The incubator, which was created last year, is at the Leesburg Business & Technology Center on Market Street.

This is UCF's first incubator in Lake. It is designed to provide training and infrastructure to upcoming companies. Through an incubator program, businesses have a better chance of thriving, county officials say.

The partnership also includes the combined efforts of the Lake-Sumter Community College Business Resources Center and the Leesburg Chamber of Commerce.

Massachusetts Gov. Deval Patrick's secretary of Housing and Economic Development, Daniel O'Connell, resigned for personal reasons and was replaced by Greg Bialecki, an undersecretary who has been responsible for business development

SRI International announced that Stephen Ciesinski has been appointed Vice President of Strategic Business Development.

John Fremstad has left his post at the Metro Orlando Economic Development Commission to join the BE&K Building Group.