Northeast-Midwest Institute Reports on Federal Spending by State
Despite small improvements, Northeast and Midwest regions lag behind the South and West in terms of dollars returned to states from taxes sent to Washington, according to a report issued by the Northeast-Midwest Institute.
Companies Sought for VC Conference
Companies seeking venture capital investments through the Great Midwest Venture Capital Conference have until August 25 to apply for consideration. The conference, this year taking place October 30-31 in Knoxville, Tennessee, annually draws around 200 investors and other financial professionals. The tenth annual event is organized by the Indiana Business Modernization and Technology Corporation and Technology 2020, located in Oak Ridge, Tennessee.
USIP Reports on State Best Practices Roundtable
The United States Innovation Partnership (USIP) reported on a recent roundtable discussion on the 21st Century Economy. The topic of the discussion was the role of states in science and technology. The roundtable highlighted "best practices" in technology-based economic development in five states (Oklahoma, Kansas, Indiana, Utah, and Pennsylvania).
FEDERAL LABS SUPPORT AUTO INITIATIVE
Seven federal labs from the Federal Laboratory Consortium’s Midwest Region - representing the Air Force, Army, Navy, Department of Energy, NASA, Department of Agriculture, and the Environmental Protection Agency (EPA) - are cooperating in an initiative to help automotive manufacturers and suppliers access the resources of the federal laboratory system.
BMT HIGHLIGHTS YEAR OF CHANGE
The 1998 annual report of the Indiana Business Modernization and Technology Corporation (BMT) addresses various changes encountered by the organization this year.
State & Local Round Up
Indiana
The Indiana legislature approved a $50 million appropriation over the next biennium for Indiana's 21st Century Research and Technology Fund. The program supports the development and commercialization of advanced technology. Created in 1999 (see related 9/10/99 Digest story), the fund received $50 million in the 2000-2001 biennium.
Foundation Grants $60 M to Indiana Colleges to Boost State’s Tech Competitiveness
The Indianapolis-based Lilly Foundation is providing nearly $60 million in two grants to help make Indiana more competitive for technology research and education and high-tech business development. The grants were made to Indiana University and the Rose-Hulman Institute of Technology.
$50 Million Research & Technology Fund Underway In Indiana
Last week, Indiana Governor Frank O'Bannon named the Board of Directors to oversee the design and administration of the new 21st Century Research & Technology Fund. By law, the Lieutenant Governor serves as chairman for the board.
Challenges of the New Economy Focus of SSTI’s 3rd Annual Conference
The State Science and Technology Institute’s (SSTI) third annual conference will focus on how to meet the challenge of the New Economy through science and technology programs.
The conference will focus on some of the largest issues facing policy makers and practitioners, including:
VC Conference Correction
In the June 11, 1999 SSTI Weekly Digest, a mistake was made. The Great Midwest Venture Capital Conference has not yet selected any of the 30 presenting companies for the 1999 conference. The deadline for applications is August 27. More information on the registration process can be found at the conference website: www.greatmidwestvcc.com
Midwest VC Conference Seeks Presenters
The Ninth Annual Great Midwest Venture Capital Conference will be held November 8-9, 1999 in Indianapolis, Indiana. The Indiana Business Modernization & Technology Corp. (BMT) is seeking applications from emerging technology businesses to present their business profiles and capital needs to a variety of potential investors at the event.
Network of Incubators Proposed in Indiana
Purdue University plans to seek $15 million in matching funds from the state to establish and support five technology business incubators or regional technology centers around Indiana. The state also will be asked to provide $6.25 million in funding for administrative support over the first four years of the centers’ operations.
People
Cameron Carter is serving as interim president and CEO of Indiana's TechPoint, following Donna Gastevich's resignation to spend more time with her family.
People and Organizational News
The Indiana Proteomics Consortium has changed its name to Inproteo.
NCEC Presents NASDAQ Entrepreneurial Excellence Awards
The National Consortium of Entrepreneurship Centers (NCEC) presented on Tuesday the 2002 NASDAQ Entrepreneurial Excellence Awards to entrepreneurship centers at Babson College, Indiana University-Bloomington, and Saint Louis University.
People
Anthony Armstrong returns to the Indiana 21st Century Research and Technology Fund as its new director.
Report Shows Indiana Financial Aid Program Helps Low-Income Students Attend College
Most technology-based economic development programs recognize the need to have more people in their states or communities who have received bachelor degrees or higher. Bringing low-income populations into a knowledge-based economy is particularly difficult because of the two significant obstacles low-income students face for college access: insufficient financial aid and inadequate academic preparation.
People
Joseph Hornett has been selected to serve as senior vice president and treasurer of the nonprofit Purdue Research Foundation (PRF). Hornett currently is COO for Sport Service, Inc. in Indianapolis. PRF holds more than 130 properties and 10,000 acres of Indiana farmland near Purdue University, including the Purdue Research Park.
People
The Indiana Technology Partnership named Jim Wheeler as its new president. A former partner with Andersen LLP, Wheeler takes the position vacated by Tom Miller last fall.
People in TBED
Timothy Monger is the new executive director for the Indiana Department of Commerce, Monger replaces Thomas McKenna, who has taken the position as cheif of staff to the Lieutenant Governor.
Foundations Continue Funding TBED Despite Slow Economy
Many organizations are wondering if, when and how severe their budgets could be impacted by the economy and the continuing fiscal crises in the states. While foundation endowments also have taken a hit by the stock market slump, several are increasing their contributions in building local or statewide technology-based economies. Two recent examples highlight the trend and point toward a funding path few TBED efforts have fully tapped.
Governor's Economic Development Plan to 'Energize Indiana'
Indiana Governor Frank O'Bannon unveiled a plan earlier this week to "Energize Indiana" that relies heavily on tech-based economic development. Gov.
Indiana's 21st Century Research & Technology Fund, Tax Credits Survive
A massive state budget deficit, partisan squabbles, and a longstanding need to restructure the state's tax code almost derailed Indiana's largest commitment toward building a technology-based economy.
Lilly Foundation Commits Another $138M for Indiana Higher Ed
Few private foundations across the country have made a comparable commitment in size or duration toward improving a single state's ability to participate in a knowledge-based economy as the Lilly Foundation has for Indiana. The latest round, reported in this week's online Chronicle of Higher Education, promises a total of $138 million to match donations received by Indiana's accredited colleges and universities.
Privatization Moves Underway in Indiana, Minnesota
Within two years, Indiana's agency for promoting economic development will become a quasi public-private partnership similar in concept to the Michigan Economic Development Corporation.
While in Minnesota, an agreement that resolved the budget impasse gives the state's lead science and tech organization a 12-month timeline to fully privatize from the state's support.