Government innovation offices popping up
Government offices focused on innovation have been around for several years, yet some states and even the federal government are seeking new ways to incorporate the concept into their offices. This week the White House announced a new Office of American Innovation, while earlier this month Rhode Island used its Office of Innovation to launch a new effort called the Government Innovation League, and in January Ohio’s governor proposed funding a new state office focused on innovation, emerging technologies and their job-creation potential.
Tech Talkin’ Govs: Kasich zeroes in on innovation
Ohio Gov. John Kasich is one of the last governors to deliver a state of the state address, which he did Tuesday evening. The former presidential contender assured the audience that he is “not running for anything,” but wanted to thank those who worked on managing the state budget. He used the address to focus on a variety of topics, including tech and innovation initiatives in the state, and educational efforts to support those industries. Kasich did not read a prepared speech and the following comments were taken from a transcript of his address:
Columbus – Home of SSTI’s 2016 Annual Conference – Designated ‘Smart City’ by USDOT
Last week, the U.S. Department of Transportation announced that Columbus, home to SSTI’s 2016 Annual Conference, has won a $40 million grant from the agency, beating out five other cities in the Smart City Challenge.
Useful Stats: U.S. Seed and Early Stage Venture Capital Investment by State, 2008-13
Last year, U.S. venture capitalists invested about $10.7 billion in seed and early stage companies, 17.1 percent higher than 2012, according to data from the National Venture Capital Association (NVCA) and PricewaterhouseCoopers (PwC) Moneytree survey. Though the overall venture capital (VC) market has returned to about the same level of activity as before the economic crisis, investment in seed and early stage companies has grown by more than a third.
People on the Move & TBED Organization Updates
Robbie Melton has been named the executive director and CEO of the High Technology Development Corporation.
Gov. Bobby Jindal has appointed Louisiana Tech University president Les Guice to chair the Louisiana Innovation Council.
Governors Prioritize Funding Toward High-Tech Facilities
Having world-class facilities to train workers or support research in fields most likely to benefit the state is a draw for many reasons. Attracting outside investment, retaining talent and generating buzz are just a few of the benefits. Last year, Connecticut lawmakers dedicated more than $2 billion to expand science and technology education on the campuses of the University of Connecticut, including construction of new STEM facilities and for building research and teaching labs. Michigan Gov. Rick Snyder is the latest state leader to announce funding proposals aimed at either constructing new facilities or making capital improvements for training students in high-wage, high-demand fields. Similar announcements were made earlier this year in Florida, Georgia, Rhode Island and Wyoming.
States and Cities Push Forward with Immigration Reform to Promote Entrepreneurship
In the U.S. there is strong bi-partisan consensus that immigration is a key driver for entrepreneurship and regional competitiveness. With federal immigration reform essentially shelved for 2014, cities and states are searching for their own solutions to attract and retain high-skilled immigrants. Proposals by Michigan Gov. Rick Snyder and other policymakers represent new approaches to immigration reform that can support local entrepreneurship and regional economic development.
New Commercialization Efforts Launched by Universities, Industry Partners
University-focused initiatives that help bring new technologies and products to market help drive regional economic development and encourage an entrepreneurial culture on campuses. SSTI’s latest Trends in TBED report featured a number of commercialization efforts launched in 2013, including university-based funds to support ideas from faculty, staff and alumni. So far, 2014 also has proven active in this area with the announcement of several new initiatives to support university technology startups.
NIST MEP Awards MTAC pilots in CA, GA, OR, TX, WI
The National Institute for Standards and Technology (NIST) Manufacturing Extension Partnership (MEP) program recently awarded $2.5 million for five pilot projects to improve small U.S. manufacturers' supply chain competitiveness and foster their readiness to adopt advanced technologies. The projects will be led by MEP centers and bring together teams of experts in specific technology areas. MEP centers in California, Georgia, Oregon, Texas and Wisconsin each will receive approximately $500,000 for the pilot efforts, which, in most cases, involve partners in other states.
States Pass Innovation-Focused Legislation
Investments and policy to support innovation-focused agendas have flourished with the close of the 2014 legislative sessions in several states. Crowdfunding legislation, incentives for attracting talent, higher education affordability, punishing patent trolls, and encouraging greater accountability are some of the areas where lawmakers focused their efforts.
Ohio tech startup gets $1.1B deal
A portfolio company of JumpStart Inc., an Ohio venture development organization, is to be purchased for $1.1 billion. The proposed acquisition of Ohio startup CoverMyMeds by McKesson Corp. marks Ohio’s first tech startup unicorn. JumpStart Evergreen, the non-profit fund that invested in CoverMyMeds, was funded in part by Ohio Third Frontier. CoverMyMeds was started in Ohio in 2008 and is now headquartered in Columbus.
OH, TN, TX, state budgets focus on innovation, R&D, education
SSTI continues to review state budget proposals as they are released, combing through them for TBED-related initiatives. This week, education and research and development programs are revealed as we examine the budget proposals from governors in Ohio, Tennessee and Texas.
Universities Seek External Funds for Big Data R&D Centers
The big data technology and services market is expected to grow at a compound annual rate of 23.1 percent over the 2014-2019 forecast period, with annual spending projected to reach$48.6 billion in 2019, according to a 2015 study from IDC – a market research firm. Hoping to leverage this exponential growth into research and economic development opportunity, several universities are fund raising to establish new big data R&D Centers in the communities they serve.
Cleveland Fed: Use Sector Partnerships to Address Employment Needs
Opportunities for successful workforce development partnerships exist across a variety of industries and geographies, according to a recently released report from the Community Development Department at the Cleveland Fed. The report, Addressing Employment Needs through Sector Partnerships, includes five case studies from throughout the Federal Reserve’s Fourth District, which contains Western Pennsylvania, Eastern Kentucky, the panhandle of West Virginia and all of Ohio. Although sector-based initiatives have been around for quite some time, the Workforce Innovation and Opportunity Act, whose final regulations became publicly available in June 2016, places a strong emphasis on aligning education and job training with employer needs, according to the report’s authors Kyle Fee, Matt Klesta, and Lisa Nelson.
Innovative Funding at the Edges
Venture development organizations are reaching into new territory for funding partners and finding success in innovative models. Two new funds, the San Diego Tech & Life Science Investor Syndicate and Rev1 Fund I in Columbus, OH, have recently opened with less traditional funding sources, testing the waters of crowdfunding and heavy corporate backing, respectively. The San Diego fund, launched by CONNECT, allows anyone wanting to invest $1,000 the opportunity to participate alongside more experienced lead investors.
EDA Grants Support Regional Innovation
The U.S. Department of Commerce’s Economic Development Administration (EDA) announced a number of grants last week to aid regional innovation and entrepreneurship efforts through infrastructure improvements, the creation of new spaces, and business improvements in regions across the country. The grants fund projects in AR, AZ, CA, ME, MI, and OH.
Tech Talkin’ Govs 2018, part 2: AL, CO, GA, IN, KS, NE, SD, WA focus on education, workforce
SSTI’s Tech Talkin’ Govs feature returns as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this second installment, we present excerpts from governors in Alabama, Colorado, Georgia, Indiana, Kansas, Nebraska, South Dakota and Washington.
SSTI’s Tech Talkin’ Govs feature returns as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this second installment, we present excerpts from governors in Alabama, Colorado, Georgia, Indiana, Kansas, Nebraska, South Dakota and Washington.
Workforce development and/or apprenticeship programs receive attention in all of the below excerpts. The Alabama governor said she is seeking an additional $50 million for higher education, while the Georgia governor talked about reorganizing their technical college system. In Indiana the governor is challenging the state economic development department to create thousands of new jobs and said in the first quarter the state will begin to make strategic investments to build and support more innovation and entrepreneurship through the already established $250 million Next Level Indiana Trust Fund.
Public-Private Partnerships Redefining U.S. Space Industry
In response to declining appropriations and the termination of the Space Shuttle program, NASA has had to re-orient its approach to commercial partnerships. Over the past decade, NASA has turned to private partnerships to further the agency’s goals of space research and exploration.
Federal, State Workforce Initiatives Emphasize Higher Ed, Employer Involvement
Aligning industry needs with workforce training has gained renewed focus in states and emerged as a national priority. This week, President Obama announced two grant programs totaling $600 million in existing funds that challenge academic institutions and businesses to design job training for the globalized economy and set industry-recognized standards. States are increasingly partnering with community colleges and industry to fill in-demand jobs, and with tight budgets, new efforts in Georgia and North Carolina also aim to enhance worker training by reallocating existing resources or restructuring programs.
Georgia, Kansas Budgets Fund Innovation Infrastructure
State leaders often cite publicly supported innovation infrastructure as investments in jobs of the future. When targeted and executed smartly, such investments can spur job growth over the long-term and help advance technology commercialization. Lawmakers in Georgia and Kansas recently passed budgets that include funding to support high-tech research facilities and similar measures are pending in several other states. The University of Georgia (UGA) is slated to receive nearly $45 million for a Science Learning Center and, in Kansas, the legislature approved $2 million for creation of a new Innovation Campus aimed at attracting technology jobs.
Study Examines the Impact of Policy Dynamics on University Innovation in Three Southern States
In a recent comparative study of state S&T policy dynamics in Georgia, Missouri and Texas, authors Jarrett Warshaw and James Hearn examine the nature of state efforts intended to bring together government, universities and industry to support innovation at publically funded universities and spur economic development.
Lab Space, Commercialization Support Backed by State Governments
State legislators in many parts of the country took action this year to fund the construction of research infrastructure and provide financial support for commercialization. In Kansas, New York, Georgia, Maine and Wyoming, legislators funded the construction of laboratories and other innovative spaces at public universities to boost the high-tech economy. In Colorado, Maryland and a number of universities, new initiatives were rolled out to support public-private research collaborations and the commercialization of cutting-edge technology.
$24M grant to spur Ohio, New York communities
In an effort designed to stimulate economic growth and workforce development in Ohio and New York communities, KeyBank Foundation announced a $24 million grant awarded to JumpStart, Inc. The grant represents the foundation’s single largest philanthropic commitment to date.
In an effort designed to stimulate economic growth and workforce development in Ohio and New York communities, KeyBank Foundation announced a $24 million grant awarded to JumpStart, Inc. The grant represents the foundation’s single largest philanthropic commitment to date. Ray Leach, CEO of JumpStart said in a prepared statement that the grant “will dramatically increase the impact of entrepreneurs and small businesses on neighborhoods and communities." Leach went on to say that the grant will provide capital for more startup and scaling companies, and will increase the participation of minorities and women in the growth of those companies.
R&D and innovation funding sees some increases, more decreases in state budgets: CA, IL, MS, NC, OH
Breaking a two-year impasse, legislators in Illinois were able to pass a state budget that reinstitutes an R&D tax credit and implements workforce development programs. In California, the Governor’s Office of Business and Economic Development (Go-Biz) will see a 28 percent increase in funding, while other innovation initiative are receiving level funding. In other states whose budgets SSTI analyzed this week for TBED-related funding, we found that Innovate Mississippi was able to maintain state funding and new funding was appropriated for workforce development at the state’s community and junior colleges; a variety of programs were cut in North Carolina; and, Ohio will not get funding for a state office focused on commercializing research across key industries that the governor had proposed. More findings from California, Illinois, Mississippi, North Carolina and Ohio are detailed below.
GA, UT see level funding for TBED initiatives
SSTI’s analysis of approved FY2018 state budgets continues with a review of action by the Georgia and Utah legislatures. Stability is the word for both states with level funding for the Georgia Research Alliance, Georgia Tech’s Enterprise Innovation Institute, and Utah’s USTAR program. The Georgia legislature did approve the governor’s proposal to increase funding for scholarship programs by $50 million.
Georgia