Midwest Angel Network Association Launched in Illinois

With the passage of HB 675, the FY 03-04 Capitol Budget Bill, the Ohio Legislature approved funding for a $100 million Innovation Ohio Revolving Loan Fund and a second $50 million installment for the Wright Brothers Capital Fund. Both measures are key components of Ohio's $1.6 billion 10-year Third Frontier Project — the state's largest-ever commitment to expanding high tech research capabilities and promoting start-up companies to build high wage jobs.

A Note from the Editor

SSTI extends its thanks to those of you who have participated in the 2003 SSTI Weekly Digest survey. As mentioned in a separate e-mail earlier this week, the survey results help us determine the editorial direction and content of future issues of the Digest and Funding Supplement. We're also open to suggestions for our website, publication catalog, investment portfolios and hairstyles, so the survey offers a great chance to express yourself.

Speaking to a joint session of the House and Senate, Illinois Governor Rod Blagojevich recently presented his first budget, one that addresses a $5 billion budget crisis.

NorTech is interested in hiring an Associate Director who will be responsible for all activities associated with one or more initiatives and ongoing high level support for the initiatives. The mission of NorTech is to ensure economic growth and leadership in Northeast Ohio by promoting entrepreneurially based globally competitive technology development and commercialization.

NorTech – an organization whose mission is to ensure economic growth and leadership in Northeast Ohio by promoting entrepreneurially based globally competitive technology development and commercialization – seeks to hire an Associate Director who will be responsible for all activities associated with one or more initiatives and ongoing high level support for the initiatives.

William Seelbach has been named Interim President of the Ohio Aerospace Institute.

Pam McDonough, director of the Department of Commerce and Community Affairs for the past four years, has been appointed to the Illinois Labor Relations Board by outgoing Governor George Ryan. Joseph Hannon will serve as the department's director for the remainder of Ryan's term, which ends in January.

The Wright Center of Innovation for Advanced Data Management and Analysis changed its name to daytaOhio and named Paul Cashen as its new president.

Ted Ford, former president and CEO of the Edison Welding Institute, recently was named president and CEO of TECHColumbus.

Already, more than 20 organizations are taking advantage of SSTI's new affiliate membership program. In addition to being able to tap into SSTI's resources, among the benefits available to SSTI affiliates are two perks that many are taking advantage of: discounted registration fees for Building Tech-based Economies: From Policy to Practice, SSTI's Sixth Annual Conference and a 10 percent discount on any purchases from SSTI's 150+ title bookstore and catalog.

You know that feeling you get when you've done something nice for no apparent reason? Or at least the grounds for being good are hidden so deeply within you that you aren't aware of the potential payoff?

Well, the annual readers' survey for the SSTI Weekly Digest presents another one of those opportunities to ignite or rekindle that warm inner glow that made the Grinch's heart grow three sizes that day.

SSTI is excited to announce the addition of two new policy analysts to its staff. Rich Healy is an economic geographer formerly with the Columbus-based engineering and architecture firm Burgess & Niple. Heidi Findley served as press secretary to former Ohio Governor Richard Celeste for several years and, prior to that, as assistant deputy director for the Ohio Department of Development's Division of Technological Innovation.

Our heartfelt thanks to all of you who so far have completed our annual readers' survey. A record number of responses!

SSTI extends a friendly reminder there is still time for readers to complete the 2002 SSTI Weekly Digest survey. As mentioned in a separate e-mail earlier this week, the survey results help us determine the editorial direction and content of future Digest issues.

In honor of Independence Day, no SSTI Weekly Digest will be published July 5.

The Illinois General Assembly has passed legislation to encourage venture capital investment in technology businesses across the state. HB3212 creates the Technology Development Fund, which permits the State Treasurer to use up to 1 percent of the state's total investment portfolio for equity investments through Illinois venture capital firms.

On Thursday, Illinois Governor George Ryan announced nearly $3 million in state grants for eight Illinois Technology Enterprise Corporation (ITEC) centers, quadrupling the number of ITECs. Funded by the Illinois Department of Commerce and Community Affairs (DCCA), the centers assist technology-based start-up businesses and serve as incubators for the new ventures.

From angel capital to university technology commercialization, there are myriad facets to technology-based economic development (TBED). The key to success lies in a solid understanding of your respective element of the field — from grasping the policy issues to developing effective programs and practices to implementing sound evaluation techniques.

The interim director for Cleveland's new Industrial Technology Institute will be Charles Alexander, dean of the College of Engineering at Cleveland State University.

The Illinois Biotechnology Industry Organization has appointed David Miller to serve as president, effective September 3.

Stem cell research, an expanded tax zone redevelopment initiative and faculty/researcher recruitment are all beneficiaries in the fiscal year 2007 budget proposal submitted by Illinois Gov. Rod Blagojevich last week. In addition, while overall funding for the state Department of Commerce and Economic Opportunity (DCEO) is down 16 percent from the FY 2006 appropriation, the governor's request includes several new programs to assist technology entrepreneurship.

John S. Maxson has been named as the new president of The Illinois Coalition. Mr. Maxson fills the position vacated by Shaye Mandle earlier this spring.