SSTI Digest

Two quarterly surveys of venture capital investments were released during the past two weeks. Both report record levels of venture-backed investments for the first quarter of 2000, in spite of the jittery stock market. While the figures vary between the two surveys, both identify the same investment trends. For instance, both surveys found that among the states, Georgia, Illinois, and New York experienced the greatest growth in deals. Summaries of both reports are provided below. 

PricewaterhouseCoopers Moneytree™ Survey 

Venture-backed investments in the first quarter of 2000 reached $17.2 billion, surpassing previous quarterly records by $2.6 billion, according to the latest Moneytree™ survey results compiled by PricewaterhouseCoopers. First quarter 2000 eclipses the total reported for the entire year of 1998. 

After two years of partisan politics and court battles, the Montana legislature last week overwhelmingly passed HB 1, a $46 million, five-year appropriations package to fund several state science, technology, and economic development initiatives. The legislation brings to close a saga that began with a successful court challenge to the funding mechanism for S&T programs. Governor Marc Racicot called a special session of the legislature this year specifically to address the need for funding. 

HB 1 provides $13.3 million for the current biennium ending June 30, 2001, and $8.2 million each fiscal year thereafter until June 30, 2005. The Department of Commerce will receive $12.6 million over five years for 32 specific infrastructure, water, and wastewater projects around the state. The balance of the bill’s appropriations will be divided among the following science, technology, and economic development programs: 

The National Science Foundation has released two statistical reports that present several science and engineering statistics by state: 

The McKnight Foundation has committed $44.5 million over ten years to support scientific research in neuroscience/memory and brain disorders. The McKnight Endowment Fund will support three national fellowship programs: 1) Scholar Awards, which link basic researchers and clinical scientists or physicians who are in the early stages of their careers; awardees receive $75,000 per year for up to three years; 2) Memory and Brain Disorders Awards, which encourage novel applications of neuroscience research to clinical problems related to memory and brain disorders; and 3) Technological Innovations in Neuroscience Awards of up to $100,000 per year for two years to encourage multidisciplinary research and technical innovations. The Endowment Fund is also the sponsor of the annual McKnight Conference on Neuroscience in Aspen, Colorado, organized to share research developments and foster interaction among all the awardees. 

On Tuesday, WorldCom and Brown University announced grants for 20 programs in 19 states to link public schools or community organizations with local colleges or universities to develop educational technology projects for youth in underserved areas. The grants were awarded through Making a Civic Investment, a $5-million, five-year program funded by WorldCom and administered by Campus Compact, a national coalition of nearly 700 college and university presidents based at Brown. 

Forbes magazine, in conjunction with the Milken Institute, released on Monday its second annual "Best Places for Business and Careers" - a ranking of the top 200 metropolitan areas in the United States. The Forbes-Milken Institute list looks at two critical factors to determine which metro areas are the most dynamic: jobs and earnings, and high-technology growth and output. All of the numbers were provided by the Institute's Regional and Demographic Studies group as part of its ongoing research into how high-tech impacts regional economies. 



The top ten metro areas were: 



1. Austin-San Marcos, Texas 

2. Atlanta, Georgia 

3. Santa Rosa, California 

4. Boulder-Longmont, Colorado 

5. Boise City, Idaho 

6. San Diego, California 

7. Orange County, California 

8. San Antonio, Texas 

9. West Palm Beach, Boca Raton, Florida 

Minnesota Technology, Inc. seeks candidates to fill the position of Technology Transfer Specialist. The incumbent will help bring Federal Technology Transfer activities to Minnesota companies by developing partnerships with federal labs, identifying opportunities for tech transfer activities in Minnesota companies, and assisting companies with the development of proposals, agreements and licenses. 

An Executive Director is sought to manage the Ohio Environmental Technology Incubator located at Central State University, Wilberforce, Ohio.  This Incubator is in the initial stages of development, and the Executive Director will be responsible for initiating, planning, organizing, and directing all activities of the Incubator under the supervision of an Advisory Board. 

A number of bills to strengthen Hawaii's science and technology standing were passed during the final days of the legislative session.

The High Technology Development Corporation has been empowered to issue $100 million in special purpose revenue bonds for the development of high-technology facilities and office space under an act Governor Ben Cayetano signed during the last week of April. Effective immediately, the act allows bond monies to be used as incentive or inducement financing to attract technology companies to the state as the interest rates on the bonds are lower than current bank loan rates. A copy of the act is available at: http://www.capitol.hawaii.gov/sessioncurrent/bills/hb2443_hd2_.htm

President Clinton announced the award of $44 million in grants to establish 214 more Community Technology Centers in economically distressed, high-poverty communities. The centers -- to be housed in libraries, schools, community centers, community colleges, public housing facilities, & other organizations -- will make computers & the Internet available to low-income residents in urban & rural communities. Business & community partners will provide matching funds. For more information, including a list of recipients by state, see: http://www.ed.gov/PressReleases/04-2000/0418.html

The Department of Education Office of Educational Technology (OET) is reviewing and revising the national educational technology plan. The revision will be completed by Fall 2000 and will include new national goals for the effective use of technology in education. The public is invited to offer opinions and recommendations through the office's web site: http://www.ed.gov/Technology

From May 8-19, the discussion topic is research & development and e-learning and education. Comments on other topics related to educational technology are invited any time through May 19. The website also offers white papers on the future of technology in K-12 education and other relevant information.

Several papers and report have been released recently on the Advanced Technology Program (ATP); five were published on line last week alone. Below are descriptions of selected papers and links to download full copies. Additional titles are available on the ATP web site: http://www.atp.nist.gov/atp/pubs.htm

Technology-based businesses and investors in Alabama may be eligible for several new tax credits if legislation recently introduced passes the state legislature. The Incentives for Targeted Growth Act of 2000, Senate Bill 571, was introduced April 19 to encourage the growth and expansion of Alabama’s technology community. The bill was developed after the Alabama Commerce Commission, while developing a new economic development strategy for Alabama, found the state’s current capital investment tax credit program was not particularly attractive for research firms, start-ups, and technology-based businesses.

If passed, S.B. 571 would: