The Small Business Administration (SBA) announced the selection of 10 regional economic development and job creation efforts through a new pilot program, Innovative Economies, that supports small business participation in regional economic clusters. SBA's funding is designed to expand the opportunities and the role small businesses play in these regional collaborations. The awardees were selected from among 173 applicants. Awards went to organizations in: Alabama, California, Connecticut, Illinois, Michigan, Minnesota, Mississippi, North Carolina, Ohio and South Carolina.

Neal Wade will resign his position as director of the Alabama Development Office in November and has been named senior vice president of economic development for St. Joe, one of Florida's largest real estate development companies.

As annual appropriations for the National Institutes of Health (NIH) flattened – at the same time more and more states and universities are increasing their investments in academic bioscience research capacity – competition for NIH grants has heightened. Reports indicate investigators in the early stages of their careers and transformative research have been the victims of the squeeze.
 

Alabama Gov. Bob Riley recently announced a plan to launch an advanced robotics research, training and education center to prepare workers for the robotics industry and attract high-tech employers to the state. Calhoun Community College in Decatur will host the $71 million center, in partnership with the University of Alabama in Huntsville. Gov. Riley first proposed the robotics campus in 2006 and believes the center will help increase the state’s profile as a leader in the robotics industry.

While election night's main focus was on the presidential race, the importance of ballot measures for states and metros is growing as public services and budgets are being severely trimmed. A recent article in The New Republic reports on a new trend where states are embracing ballot measures as a potential source of dedicated funds for targeted investments in regional economic growth and development.

The answer may not be clear, but both sides can agree the U.S. skills gap will continue to deepen if changes do not occur. In the U.S. manufacturing sector, the skills gap may be less pervasive than many believe, according to a report from the Boston Consulting Group (BCG). BCG researchers estimate the U.S. is short 80,000 to 100,000 highly skilled manufacturing workers.

Recent announcements of new and emerging technology incubators range from Google's selection of Cape Town, South Africa to launch a pilot incubator supporting technology entrepreneurs that it hopes to replicate globally to Alabama Gov. Robert Bentley's plan to create a statewide business incubator focusing on workforce training. Select announcements from across the globe are highlighted below.

President Obama launched the Advanced Manufacturing Partnership Steering Committee “2.0.” Former SSTI board member Luis Proenza, president of The University of Akron is part of the steering committee chaired by Andrew Liveris, president, chairman, and CEO of the Dow Chemical Company, and Rafael Reif, president of the Massachusetts Institute of Technology.

University-focused initiatives that help bring new technologies and products to market help drive regional economic development and encourage an entrepreneurial culture on campuses. SSTI’s latest Trends in TBED report featured a number of commercialization efforts launched in 2013, including university-based funds to support ideas from faculty, staff and alumni. So far, 2014 also has proven active in this area with the announcement of several new initiatives to support university technology startups.

Richard Bendis has been named the first president and CEO of BioHealth Innovation, Inc. a regional private-public partnership focusing on commercializing market-relevant biohealth innovations and increasing access to early stage funding in Central Maryland.

With increasing pressures from state and local policymakers to show a return on investment, universities and colleges across the country are stepping up their efforts to transform innovative ideas into ready-for-market products and develop a new generation of entrepreneurs that will spur regional and state economic growth.

Overall retention rates for female engineering graduates has remained steady over the last few years, and according to the latest survey from the American Society for Engineering Education, a significant percentage of women are focusing on the less traditional fields of engineering.

Convergence Group Formed in Silicon Valley

Former president and CEO of the Columbus Technology Council William "Sandy" White is the new CEO of the University of Alabama at Birmingham Research Foundation.

New Mexico Firms Would Receive $30M in Venture Funding

The National Business Incubation Association (NBIA) recently held its 18th International Conference in Atlanta, honoring excellence in business incubation programs, graduates and client companies. NBIA, a nonprofit organization, works to advance incubation and entrepreneurship. This year’s recipients include: