After discovering that only 10 percent of the venture capital raised in New Jersey is invested in New Jersey companies, a new venture fund has been established combining private, state, and federal resources. The seed investment fund will be used to assist New Jersey start-up technology businesses get off the ground.

Western Virginia’s economy is stagnant due to a variety of factors and must get in line with the “New Economy” according to a report commissioned by the Center for Innovative Leadership in Roanoke. A second study by the Center revealed the area's residents appear willing to support activities designed to bring new business and employment to the region.

Reservations for Beyond the Hype: Tools for Building Tech-based Economies and limited-seating, pre-conference workshops started coming in only hours after we posted the date (October 3-4), price (extremely reasonable) and location (Chicago) on our web site. We’re glad to see so many of you are as excited about this year’s conference as we are. 

John Dougherty resigned his position with the Illinois Coalition to accept a job in the private sector.

Wheeling Jesuit University invites applications for the position of Chair of the Department of Business and Technology. Among the Chair's responsibilities are recruiting and retaining faculty, overseeing curriculum and budget, developing and maintaining strong ties to the business and governmental community of the Wheeling area, and articulating a vision which leads to widespread recognition of the Depart-ment as offering a premier education program. Applications will be accepted until May 10, 1999.

In his first budget address, Illinois Governor George Ryan outlined a series of initiatives which would catapult Illinois into the top tier of states for technology-based economic development spending. Coupled with the $3-million-plus technology initiative announced earlier this year by Chicago Mayor Richard Daley, Illinois S&T investments could grow to $20 million annually, a threshold only six other states have crossed and maintained: Georgia, New York, North Carolina, Ohio, Pennsylvania, and Texas.

On Monday, Chicago Mayor Richard Daley announced a series of initiatives to promote technology development for the city, including an information technology incubator, formation of a Mayor’s Council of Technology Advisors, and a Civic Network to support capacity needs for Internet commerce by Chicago businesses.

West Virginia University is seeking candidates to fill the newly created, high-profile position of Economic Development Director and Senior Advisor to the WVU leadership. He/she will be the primary WVU spokesperson for economic development with the mission to maximize the impact of WVU on West Virginia's economy. Review of applications will begin January 15, 1999. Additional information, including application procedures, are available at http//www.wvu.edu/~exten/.

The Wheeling Jesuit University is seeking candidates for a combined faculty/administrative position in Entre-preneurship and Technology Management and Chair of the Department of Business and Technology. Duties include teaching, advising student, seeking grants, coordinating a new undergraduate major in Entre-preneurship and Technology Management, and arranging for student internships and faculty consulting opportunities in the entrepreneurship and technology management areas. Applications will be accepted March 15, 1999.

The long-time executive director of the New Jersey Commission on Science and Technology, Jay Brandinger, recently announced his decision to resign as Executive Director of the New Jersey Commission on Science and Technology. Consequently, the Commission is seeking an Executive Director.

November 17, 1998

The National Association of Seed Venture Funds is sponsoring a seminar entitled "Seed Investing as a Team Sport" to be held in Des Moines. The purpose of the seminar is to expand the attendees' understanding of business investing, help locate a team of like-minded investors in the region, and provide new tools to help optimize investment dollars. For more information, visit NASVF's website at http://www.nasvf.org

While it is safe to say that new medicines, electronics, educational tools and other inventions have improved the lives of countless people, a new project by the Association of University Technology Managers (AUTM) describes more than 100 such breakthroughs that probably would not exist if not for the practice of technology transfer.

Innovation and tech entrepreneurship take money — different amounts at different stages with different strings. As a result, increasing access to capital is an objective of many state and local technology-based economic development programs.

With ten firms, Chicago leaders win bragging rights for being called home by the greatest number of Inc. magazine's "Inner City 100," the fastest growing urban businesses. In fact, six of the top 50 companies were from the Windy City.



Five businesses from Buffalo won inclusion in the magazine's list, earning the New York city the unofficial title as the second most popular home. Pittsburgh, Cleveland, and Oakland, CA each had four companies on the list.

The e-newsletter of the National Association of Seed and Venture Funds, NASVF Net News, reports Sallie Traxler has become the Executive Director for the Council of Development Finance Agencies. Also, the e-newsletter reports Dan Loague has been promoted to the position of NASVF Executive Director.