With 26 percent more of its workforce involved in information technology (IT) than the national average and with IT-producing industries growing faster in the state than the national average, Connecticut has possibly felt the pinch of the IT worker shortage more than other parts of the country. Add to that the fact that the number of IT-related graduates from the state’s universities and community colleges declined during the late 1990s.

Successful companies are forced to change business strategies as market realities shift. It happens all of the time. Browse the business section of your local bookstore and you'll see dozens of titles preaching the need for companies to adopt, adapt and innovate. The continuing restructuring of the U.S. durable manufacturing sector, as alluded to in the Useful Stats piece below, is a vivid example of the importance of abandoning old mindsets for industry: change or die.

Former Ohio Governor Richard F. Celeste was sworn in as the United States Ambassador to India last week. Celeste has been a leader in the field of technology-based economic development for the last 15 years. While governor, Celeste established Ohio's Thomas Edison Program.

The Role of Technology in the Connecticut Economy, a new report produced by the Connecticut Technology Council (CTC), provides a comprehensive analysis of the role of technology in the state's economy. Overall, the report reveals both a strong technology contribution to the Connecticut economy, as well as the state's dependence on technology for achieving its economic potential.

After seven months on the job, Connecticut Innovations President and CEO Chandler Howard is leaving to pursue an opportunity to establish a community bank in New Haven.

Japan is on schedule to double the government's R&D investment by the year 2000, according to a June 13 National Science Foundation Issue Brief.

During the past decade, the European Union (EU) invested heavily in civilian R&D by building first-class laboratories and expanding higher education in science and engineering. Its efforts, according to the Data Brief for a new National Science Foundation report, Human Resources for Science and Technology: The European Region, are narrowing the lead the U.S. holds in R&D.

For example:

Cincinnati and St. Louis are partnering to hold a three-day symposium to examine best practices in biotechnology-based economic development. Growing the Life Science Industry will be held March 1-3 at the Kingsgate Conference Center on the University of Cincinnati Medical Campus. Speakers from a dozen states will share their regions' approaches for life science economic development.

After only ten years of investments, Connecticut Innovations, Inc. achieved a net income of $21.4 million in 1999, according to Connecticut Innovations’ latest annual report. The corporation reversed a deficit of over $20 million in retained earnings accumulated through 1995 to a positive $24.7 million by June 30, 1999. The corporation's record provides one of the strongest examples of successful state-funded, technology-based seed and venture capital investment to date.

Dennis Cheek is vice president of education with the Kauffman Foundation.

This year’s second attempt to pass legislation establishing a state-funded seed capital program in Missouri was successful during the waning hours of the 1999 session of the Missouri General Assembly. SB 518, the Missouri New Enterprise Creation Act, authorizes the creation of up to four seed capital funds at the state’s innovation centers to support new technology-based companies in the state.

The 2000 session of the Connecticut legislature proved to be an active and favorable one for the state’s technology community and Connecticut Innovations, Inc. The Connecticut Technology Council summarized the session this way, “For the first time in recent memory, the debate at the Capitol was not over whether legislation affecting tech companies would pass, but which legislation affecting tech companies would pass.”

In a recently issued Executive Order, Missouri Governor Mel Carnahan officially named the life sciences industry as one of the state’s lead industries for promoting economic development. The order requires all executive branch departments to review their programs and evaluate each program’s impact on the life sciences industry for purposes of economic growth. The Department of Economic Development must prepare a report based upon these reviews that is due to the Governor by May 1, 2000.

Last week, Mary Harney, Ireland’s Deputy Prime Minister and Minister for Enterprise, Trade and Employment, announced the establishment of a £560m ($681M U.S.) Technology Foresight Fund to establish Ireland as a location for world class research excellence in niche areas within biotechnology and information and communication technologies. According to Reuters’ reports, funding for the new initiative will be spread over seven years.

At the end of June, Governor Bob Holden signed an executive order committing $21.5 million of the state’s tobacco settlement funds for biotech research during fiscal year 2002. Governor Holden made his announcement prior to signing Senate Bill 500, which expands the state’s job training program to prepare Missouri’s work force for new careers in life sciences.

The European Commission's 2001 European Innovation Scoreboard, characterizing the strengths and weaknesses in the capacity for innovation of the European Union (EU) and its member states, shows the EU continues to lag behind the U.S. and Japan.