TBED People
TBED People
Walter Bumphus has been named the next president and CEO of the American Association of Community Colleges. Bumphus currently serves as a professor in the Community College Leadership Program and chair of the Educational Administration Department at the University of Texas at Austin. Bumphus will begin his tenure with AACC in January.
Jobs Tax Credit Generates $72 Million Fund for CT Firms
Connecticut has certified its first fund manager under the state's revised Insurance Reinvestment Tax Credit program, which has now expanded beyond its focus on insurance-related companies to support early stage and high-tech firms. Advantage Capital Partners has raised $72 million to invest under the revamped program. Fund managers may invest in any Connecticut-based business. One quarter of the investments must support green technology firms, and three percent must go toward pre-seed stage projects.
Biomedical Initiatives Face Cuts As Governors Seek to Erase Deficits
Governors across the nation are trying to find ways to prevent their state finances from falling further in the red as revenues continue to fall while costs for Medicare and unemployment remain high. Deficit-reduction plans announced in two states seek to delay payments and cut funding to biomedical research initiatives that were established to expand the states’ research capacity and generate wealth.
Connecticut
Silicon Valley Index Paints Complex Picture for Region's Economy
As a percentage, Silicon Valley has lost more jobs over the past four years than any U.S. metropolitan area since 1939, but evidence shows the region is stabilizing with a return to levels reminiscent of the late 1990s. Funding for venture capital is up, per capita income is increasing, and research and development funding has reached new highs. Yet, the region's most striking feature of late is, perhaps, the way it is growing, according to the 2005 Index of Silicon Valley.
People
Gov. Arnold Schwarzenegger has selected Brian McGowan to replace Yoland Benson as deputy secretary for economic development in California's Business, Transportation and Housing Agency. McGowan, San Bernardino County's economic development administrator, will start his new position in January. Gov. Schwarzenegger also has appointed Teresa Takai as the state's first Cabinet-level chief information officer.
Not All Is Rosy for Middle Class, Silicon Valley Index Shows
According to the latest index from JointVenture Silicon Valley, 2007 looks like a pretty good year compared to 2006 when you look at many standard measures of economic performance. There were 28,000 new jobs created, a 1.5 percent increase in population, and 21 percent growth in solar and wind energy installations. Water use also dropped 6 percent, venture capital investments were up 11 percent, median household income rose, and city revenues were up 37 percent.
Three VC Firms Picked to Extract Green Tech from Federal Labs
Last week, three venture capital firms were chosen by the Department of Energy (DOE) to participate in its new Entrepreneurship in Residence (EIR) program, a pilot initiative designed to get advanced energy technologies out of the federal labs and into the marketplace. In the program’s design, an entrepreneur affiliated with each venture capital firm will work with the selected DOE laboratory staff in order to identify and evaluate marketable technologies.
Cities Pursue Innovative Strategies to Grow Clean Technology Businesses
As renewable energy and environmental technologies emerge as some of the promising industries for high-tech economic development, more cities are seeking new ways to boost clean technology research and businesses. Austin, San Jose, Berkeley, Pasadena and Boston have been singled out for their efforts to promote cleantech industries by SustainLane Government, a nonprofit Internet-based organization that provides current practices and news about municipal sustainability.
People
Frank Dinucci announced he will step down in April 2007 as president of Connecticut Innovations.
People
Oleg Kaganovich will resign as CEO of the Sacramento Area Regional Technology Alliance (SARTA) in June 2007, but remain a member of SARTA's board of directors.
People
Peter Scott was named the director of Kettering University's new Fuel Cell and Advanced Technology Incubator.
People
The Maryland Technology Development Corp. has appointed Renée Winsky as its new executive director.
People & TBED Organizations
Publisher's Note: SSTI notes with much sadness the March 5 passing of Indiana State Sen. David Ford, following a battle with pancreatic cancer. David was a good friend not only of SSTI's, but also of the tech-based economic development community across the nation. In addition to being a tireless and cheerful advocate for investing in science and technology, he was also a gentleman in the true sense of the word, and we miss him greatly.
Looking at State Equity Intensity Changes Leader Board
SSTI’s VC Dashboard Value Enlarged with Addition of Per Capita Data
Two Reports Highlight Opportunities for State Broadband Policies
Although the U.S. broadband infrastructure has expanded rapidly over the past decade, 45 percent of rural areas still lack access to high-speed Internet services. A recent issue brief from the National Governors Association (NGA) Center for Best Practices provides a number of strategies that have proven effective in expanding broadband access, particularly in underserved rural areas.
People & TBED Organizations
The U.S. Department of Commerce's Economic Development Administration (EDA) recently announced Ben Franklin Technology Partners (BFTP) as the winner of the "Excellence in Technology-led Economic Development" award, as part of EDA's Excellence in Economic Development Awards 2008. BFTP, created in 1983, has regional offices in Lehigh Valley, Philadelphia, Pittsburgh and State College.
Tech Talkin’ Govs, Part I
SSTI’s eighth annual Tech Talkin’ Govs series highlights new and expanded TBED proposals from governors’ state-of-the-state, budget and inaugural addresses. With mounting budget deficits spanning the nation, this year’s anticipated overarching theme is proposals aimed at mending states’ finances with less focus on the introduction of new initiatives. The first installment of the series includes excerpts from California and New York.
California
Mixed Results for TBED in State Budget Proposals
Coinciding with a plethora of state-of-the-state addresses delivered over the past week, several governors have released budget recommendations for the upcoming fiscal year. The following states’ budgets include crucial TBED investments and reductions in programs.
California
Local Capital Programs Help Address Regional Gaps
Although the national venture capital investment continues to expand, many parts of the country still lack access to reliable sources of business capital. Even in states that rank in the top tier for venture investment, there are often insufficient capital resources to support businesses at every stage of development.
People
Connecticut Innovations has named John Mengacci interim president while it conducts a broad search to fill the position permanently.
People
J.D. Stack replaces Oleg Kaganovich as the new CEO of the Sacramento Area Regional Technology Alliance.
TBED People
William Archey, CEO of AeA, announced he will retire in 2008.
TBED People
Gov. Jodi Rell nominated Joan McDonald to succeed James Abromaitis as Connecticut's commissioner of economic and community development. McDonald had been a senior vice president with the New York City Economic Development Corp.
People
The following were named recipients of the 2005 National Medal of Technology:
People
Victor Hwang, the immediate past president of Larta Institute, has co-founded T2 Venture Capital.