In his recent combined State of the State and budget address on March 7, Illinois Gov. Rod Blagojevich proposed the formation of the Illinois Community Assets Fund (ICAF), a $100 million venture designed to increase access to capital and financing to economically distressed communities and populations that have had inadequate access to mainstream capital markets within the state. The assets of ICAF would be contained within the State Treasury, and the Illinois Department of Commerce and Economic Opportunity (DCEO) would administer the fund.

It won’t come to any surprise to Digest readers that there’s a connection between universities and economic prosperity. In addition to educating students and advancing science and technological innovation, the localized economic impact of institutions, alone, provides a buffer to economic swings for many mid-sized and smaller cities and college towns. How best to incorporate universities into regional tech-based economic development strategies without compromising core missions is an art not every community has mastered.

SSTI extends its sympathies to the family of Indiana Governor Frank O'Bannon. During his interrupted term in office, Gov. O'Bannon proved to be a strong friend of tech-based economic development efforts in the state.

Approximately $350 million in grants recently awarded by one of the nation's leading biodefense research agencies are intended to lessen the effects of any future bioterror attack. Administered by the National Institute of Allergy and Infectious Diseases (NIAID), the funding will be spread over five years for establishing eight Regional Centers of Excellence for Biodefense and Emerging Infectious Diseases Research (RCEs).

Going into yesterday's elections, it was clear at least five states would have freshmen governors as three incumbents chose not to run for re-election and two incumbents lost their parties’ nominations to seek new terms. The five states were Missouri, Montana, Utah, Washington and West Virginia.

Effective Jan. 1, Donald Kuratko will be executive director for Indiana University's Johnson Center for Entrepreneurship and Innovation. Kuratko is currently runs Ball State University's entrepreneurship program.

Jay Tieber is the new president of the National Association of Seed and Venture Funds.

The Purdue Research Foundation has appointed Robert J. Wichlinski as executive director of the new Purdue Technology Center of Northwest Indiana and Kathy DeGuilio-Fox as the center’s business development manager.

BioCrossroads, the Central Indiana life sciences network, announced Chuck Schalliol is the organization's new chief executive officer and president.

Kristin Jones recently was hired as senior manager for life sciences under the Indy Partnership, an economic development organization for the Indianapolis region.

The promise of high-wage jobs, increased business competitiveness and wealth creation makes the commercialization of university research a central element in the technology-based economic development strategies of many states, provinces and regions of North America.

The Chicago based Committee of 200, an organization of leading women in business, has named Diane Graham as its new chair.

Steve Bryant has been named the project director for the Bloomington Life Sciences Partnership in Indiana.

Patrick Rea recently was selected as administrator for the Small Business Administration's six-state region involving Indiana, Illinois, Michigan, Minnesota, Ohio and Wisconsin.

William Stephan has been appointed vice president of engagement for Indiana University, a new position aimed at furthing economic development and related outcomes.