Voters in Missouri approved, 51 percent to 49 percent, an amendment to the state constitution that will prohibit state or local governments from preventing embryonic stem cell research. The amendment also defines what type of research is permitted.

 

A recent report from Hawaii’s Tax Review Commission recommends the state eliminate or drastically overhaul its five-year old tax credit for high-tech investors. According to the report, the current credit provides no clear advantage to the state and appears open to taxpayer abuse. The commission was particularly troubled by the lack of data provided by taxpayers who were approved for the credit and by the lack of transparency concerning the credit within the state’s Department of Taxation.

 

To help entrepreneurs start and manage businesses, the Kauffman Foundation recently launched Kauffman eVenturing™ ( www.eVenturing.org).

The first three installments of SSTI's annual look at how TBED will play in the 2005 legislative priorities of the governors can be found in the Digest archives on our website: http://www.ssti.org/Digest/digest.htm

Hawaii

The Kauffman Foundation recently launched "Giving Back to Entrepreneurship," a website dedicated to informing entrepreneurs how they can use their energy and creativity to support their communities and help jumpstart the next generation of entrepreneurs.

By nature, angel investing is a risky endeavor. Angels are often involved with unproven seed- and early-stage companies and are frequently the first outside investors to become involved in a new venture. Despite these risks, a report released by the Ewing Marion Kauffman Foundation and the Angel Capital Education Foundation argues that angel investors working through investor groups often achieve attractive returns.

Pat Snider, the first CEO for BioGenerator in St. Louis, announced her departure from the two-year-old organization by the end of the year.

Efforts to capitalize Hawaii's $120 million State Private Investment Fund (SPIF) collapsed Friday as a joint conference committee of the state legislature could not reconcile differences between House and Senate versions of the measure. Passage of Senate Bill 1695 was one of Gov. Linda Lingle's top economic development priorities for this legislative session.

Randa Hayes is the new director of the business development and trade division of the Missouri Department of Economic Development.

To encourage investment in high tech companies, the Hawaii Senate recently passed Senate Bill 1695, authorizing $120 million for the State Private Investment Fund (SPIF) and Senate Bill 1696 to allow fiduciaries to make equity investments.

Robert Rosner, chief scientist for the Argonne National Laboratory, will be the lab's new director.

Designed to ease the transaction burden on university technology transfer offices and encourage more open and efficient access to research, the Kauffman Foundation recently unveiled iBridge, a web-based platform under the Kauffman Innovation Network.

Between 1996 and 2004, an average 0.36 percent of the U.S. population created a new business each month, representing approximately 500,000 new businesses per month, according to the Kauffman Index of Entrepreneurial Activity.

John Gardner has been named the first vice president for research and economic development for the University of Missouri system.

Building on a successful legislative session in 2007, Gov. Lingle is requesting additional funds to supplement various ongoing TBED programs.

 

RiverVest Venture Partners, a life science venture capital firm headquartered in St. Louis, announced it will be opening an office at the BioEnterprise facility in Cleveland. The office will be managed by Karen Spilizewski, who is joining RiverVest on a part-time basis as a vice president on Jan. 1.