While venture capital is harder to come by these days in most parts of the country due to the dot-com crash and stock market declines, investment capital may flow more easily in two southern states based on two initiatives.



Florida: $450 Million for CAPCOs Considered

Growing and keeping an educated workforce, one ready to help build a technology-based economy, is one of the greatest challenges even the most high-tech areas. The problem can be quite severe. For example, a new statewide survey of Florida college students, conducted by Leadership Florida and Nova Southeastern University, revealed that only 48 percent of the students plan to remain in Florida after graduation.

The Semiconductor Industry Association (SIA), in cooperation with members of the semiconductor industry and the U.S. Department of Defense, is launching a new initiative to expand certain long range applied microelectronics research at U.S. universities.

This planned new initiative, the Focus Center Research Program, is being structured to utilize long range innovative applied research to meet industry needs. The envisioned Centers will:

Probably everyone involved in tech-based economic development (TBED) can name at least one research building, innovation center or tech park named after a significant contributor to the project. And has become commonplace individual components of the structure have been named for individual donors: a wing, the auditorium, the foyer, the artwork, the chairs in the board room.

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.

The North Carolina Small Business and Technology Development Center (SBTDC) will host a six-state regional conference promoting three federal business technology investment programs: the Small Business Innovation Research (SBIR) Program, the Advanced Technology Program (ATP), and the Small Business Technology Transfer (STTR) Program.

The Florida legislature recently approved legislation creating the Florida Space Research Institute (FSRI), an independent, industry-led organization designed to coordinate the space-related research capabilities of several public and private universities. FSRI will strive to expand the universities’ involvement in space research and education, and to insure that state academic resources are available to support the space-related needs of industry, NASA, and the military.

The advances being made in nanotechnology-based research are likely to impact most industry sectors eventually as more commercial applications are identified. As a result, the National Nanotechnology Initiative has been a research priority for the federal government for many years. Nanotech research is occurring around the world, but, at this point, the majority of effort is concentrated in several leading universities and private companies.

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.

Brent Gregory has announced his resignation as Vice President for Technology Development with Enterprise Florida to accept a position in the private sector.