Karl Fooks, a past managing director for J.P. Morgan & Co. in Asia, is the new president of the Hawaii Strategic Development Corporation. Fooks replaces John Chock who retired last year.

Arden Bement, head of the National Science Foundation since his appointment as acting director in early 2004 and permanent director in November of that year, will become director of the new Global Policy Research Institute at Purdue University, effective June 1. Bement served as director of the National Institute of Standards and Technology from 2001 to 2004.

NSF directorships are Presidential appointments with six-year terms. Bement's term would have expired in November, 2010. The White House has yet to name Bement's successor.

The United Kingdom (UK) recently announced that it will petition the European Commission, the European Union’s executive body, for permission to increase the size of tax relief for social investments that address significant social issues. In the U.S., Georgetown University and Portland State University recently announced new initiatives to promote innovation that will address social issues. These universities join a growing number of institutions of higher education that are working to grow domestic social innovation, train a generation of social entrepreneurship and spur social impact investing.

A bill to consolidate several organizations and entrepreneurship efforts into one office led by the lieutenant governor passed in the Indiana General Assembly with unanimous support from both chambers. HB 1332 combines the Young Entrepreneurs Program, the Small Business Development Center and the Small Business Ombudsman into a single entity know as the Office of Small Business and Entrepreneurship.

After hitting an all-time high in 2012, California’s dominance of the nation’s venture capital activity receded a bit last year. California continues to receive about half of the country’s venture investment dollars and about 40 percent of its dealflow, but in 2013, the state’s share of dollars fell from 53 to 50 percent, according to data from the PricewaterhouseCoopers/National Venture Capital Association (PwC/NVCA) Moneytree survey. Massachusetts, which has been host to about 10 percent of national venture activity in past years, also saw its share of total U.S.

Pramod Khargonekar has been selected to serve as the National Science Foundation's assistant director for the Directorate of Engineering.

Dan Blake will join the Wisconsin Technology Council as the director of its Wisconsin Angel Network in mid-March. Blake succeeds Zach Brandon, who recently became president of the Greater Madison Chamber of Commerce.

Measuring impact is critical to the success and sustainability of any economic development initiative, and as the national debate over fiscal austerity and taxpayer spending continues, TBED organizations can expect increased scrutiny and accountability for their investments.

A new statewide network will coordinate the regional economic development activities of Indiana University, according to an announcement released by the university this week. The Innovate Indiana Network will complement the work done by the Innovate Indiana initiative and the university's Council for Regional Engagement and Economic Development (CREED). The network will include representatives from 16 schools, offices and centers across the state that offer services that could potentially benefit regional economies.

Follow-on funding, access to technology, talent and resources all can be barriers to commercialization and successfully spinning off sustainable companies. Always seeking a quicker, more viable path to market for technologies and products, university-based programs and public-private partnerships try to tackle these hurdles, which often times are region-specific. Such is the case in Long Island, NY, where a recent partnership between a nonprofit organization and venture capital firm is working to address access to capital concerns.

With a commitment of $25 million over the next two years to establish a biosciences institute, Indiana lawmakers gave their stamp of approval to a major policy goal touted by Gov. Mike Pence during the campaign. The governor and lawmakers hope to build an endowment of $300 million to $400 million over the next five to seven years drawn from corporate and philanthropic sources.

Governor Mike Pence has released details on Indiana's statewide public-private collaborative life sciences partnership. The estimated $360 million Indiana Biosciences Research Institute will receive $25 million for the biennium from the state of Indiana to cover startup costs, which will be augmented by another $25 million from industry and philanthropic sources (see the May 8 issue).

As many state legislative sessions wind down, a clearer picture of the current direction of state innovation policies is emerging. This week’s SSTI Weekly Digest presents a few of the major trends in technology-based economic development initiatives approved by state legislatures during their most recent sessions. While this review is not meant to be comprehensive, it should illuminate the shifts states are making to refine their investments in the high-tech economy by providing smarter, more targeted support.

For several states, this year's legislative session resulted in continued austerity toward new investments and level funding for established tech-based initiatives producing good results. Workforce initiatives seemed to be the exception, garnering greater attention from state leaders eager to boost employment numbers — especially in high-tech fields.

Indiana Gov. Mike Pence has announced details of a realignment of the state's services for small business owners and entrepreneurs through the establishment of a new Office of Small Business and Entrepreneurship (OSBE). The office will incorporate the Indiana Small Business Development Center, the Procurement Technical Assistance Centers and several small business specialty programs. OSBE will offer business consulting, as well as bringing together universities, private sector businesses and government stakeholders.

A continued trend toward improved fiscal conditions gave rise to targeted and riskier investments in research for several states this legislative session. In particular, lawmakers dedicated funds for life sciences research and for initiatives aimed at commercialization through partnerships with higher education and the private sector. Other states dedicated additional funds to expand promising research and technology-focused initiatives already underway.