The presence of "surrogate universities" - that is, nonacademic institutions able to attract a skilled workforce, produce marketable innovations and cultivate local entrepreneurship - have greatly influenced the growth of the tech-based economy of Boise and Idaho's Treasure Valley. Furthermore, distinctions in these surrogates' culture, innovation model and marketable products may help to explain the development of new technology firms in the metro area.

South Carolina Gov. Mark Sanford announced that his budget for fiscal year 2007-08 will include a request for $2 million to bring high-speed Internet access to rural parts of the state. This allocation from the state’s Capital Reserve Fund would be used to create a Rural Broadband fund to increase broadband penetration in underserved communities and is designed to boost economic development by providing Internet access to students, businesses and entrepreneurs.

 

Business community advocacy for public investments in technology-based economic development (TBED) may make the difference between legislators appropriating programs $1 million or $100 million.

Brian Vogt has been appointed director of Colorado's Office of Economic Development and International Trade.

In last week's Tech Talkin' Govs II article, we inadvertently listed Mark Warner as the Governor of South Carolina. Gov. Warner leads the Commonwealth of Virginia. Mark Sanford is Governor of South Carolina. SSTI regrets the error.

Joe James, director of the South Carolina Council on Competitiveness, has resigned his position with the S.C. Department of Commerce.

SSTI congratulates Tom Persons, president and CEO of the South Carolina Technology Alliance, for receiving the Individual Achievement Award from the Greater Columbia Chamber of Commerce.

Former NASA Administrator Richard Truly, now head of the National Renewable Energy Laboratory, announced his plans to retire in November.

Thomas Persons Sr., president and CEO of the South Carolina Technology Alliance, was appointed to the newly created South Carolina Venture Capital Authority.

One of the most critical elements needed for a tech-based economy is a strong higher education system that supplies a source of research ideas, new technologies and a skilled workforce. Studies have shown that individuals with college degrees earn more money, obtain better jobs, pay more taxes, and are more apt to perform volunteer work. Given higher education's important role, several states have been re-examining how higher education can play a larger role in their economy.

A new economic development council formed in South Carolina has been charged with two objectives: help reshape the state’s economy and raise its per-capita income. Members of the South Carolina Council on Competitiveness, a group of business, academia, government and economic development leaders, were announced earlier this month.

Pam Inmann is the new executive director of the Western Governors Association.

Brian Vogt is the new director of the Office of Economic Development and International Trade in the Colorado Office of the Governor.

The South Carolina Technology Alliance calls it the most significant victory for South Carolina's research universities and tech entrepreneurs in the last 50 years. An idle exaggeration? Probably not.

The creation and subsidization of CAPCOs, certified capital corporations intended to encourage venture capital (VC) investment, is one of the more controversial policies some states have adopted to encourage the growth of tech-based economies. With substantial revisions to Colorado's short CAPCO experiment this month, questions are raised once again for other states that either have passed or are considering various approaches to increasing the availability of risk capital for new tech firms.

South Carolina Research Authority president Larry Druffel has announced he will retire next year.

Boise Gains First Angel Investor Network