The role of a technology incubator or accelerator for supporting nascent firms generally is regarded with the utmost importance by the tech-based economic development community. Tech incubators provide essential resources for startup companies to develop and commercialize new technologies, leading to the creation of high-quality jobs.

Legislators in New York rejected Gov. David Paterson's proposal to consolidate the state's primary organization for supporting and enhancing technology-based economic development into the state's traditional economic development organization (see the Dec. 17, 2008 issue of the Digest).

Green stimulus investments have the potential to yield a greater number of jobs and greater long-term prosperity than traditional stimulus investments, according to a new study presented at the recent G20 summit. The report examines the stimulus packages passed in the G20 countries, particularly their relative emphasis on spending related to sustainability.

In the midst of a national economic recession contributing to a record number of job losses in traditional industries, forward thinking states are exploring ideas and committing funds to help grow and diversify their economies and strengthen their renewable energy portfolios.

One of the biggest challenges for green technologies and products is breaking into the market. Achieving the critical mass that allows production volume to drive down prices is difficult, particularly when the commodity being sold is, at least initially, more expensive to make because more of the actual cost of production is captured in the green company's business model.

While New York City's universities and research centers are among the country's top institutions for performing scientific research, the city’s institutions have not become the drivers of entrepreneurship and economic development witnessed in other regions of the U.S, according to a new report from the Center for an Urban Future. Additionally, the high cost of real estate and lack of affordable laboratory space inhibits local entrepreneurs from succeeding and deters high-tech investment.

The New York State Foundation for Science, Technology and Innovation (NYSTAR), the state’s lead tech-based economic development agency, would see a significant boost in funding under a proposal unveiled by Gov. David Paterson to distribute $100 million in new Innovation Economy Matching Grants.

Entering its tenth year covering governors’ State of the State, Budget and Inaugural Addresses, SSTI’s Tech Talkin’ Govs series highlights new and expanded TBED proposals from across the nation. The first edition includes excerpts from speeches delivered in the following states:

Arizona
Gov. Janice Brewer, State of the State Address, Jan. 11, 2010

The State University of New York has released a ten-year strategic plan to help revitalize the New York state economy. One major element of the plan is increasing the university's involvement in statewide entrepreneurship through several new inititiatives, including SUNY Start-UP, which would invite entrepreneurial mentors on campus to work with students and professors, and SUNY-INC, which would align research teams across the state to accelerate the commercialization of new technologies. Read more ...

Having the tools and resources to develop innovative concepts and products and move discoveries from the lab to the marketplace is an essential component for building tech-based economies. Research parks, a place where innovative ideas are borne, partnerships between university and industry are created, and companies grow and create new jobs, provide a foundation for the kind of economic growth necessary to compete in a global economy. Over the past few months, development plans and groundbreaking announcements from research parks across the nation have been made.

TBED People
Michael Burcham has been named the first president of the Nashville Entrepreneur Center. Burcham currently serves as a clinical faculty member at Vanderbilt University's Owen Graduate School of Management.

Sweden replaced Denmark as the world's most networked economy and the U.S. fell two spots to fifth place in the Global Information Technology Report 2009-10 rankings. The report, released last week by the World Economic Forum, finds that the U.S. boasts a very conducive information and communication technologies (ICT) environment because of intensive competition, excellent infrastructure and top-notch education. Aspects of the U.S. performance which show margins for improvement include high tax rates, excessive red tape, and a poor general regulatory framework.

Silicon Valley, a region often looked to for trends in the technology field, is expected to see a rise in the number of new high-tech incubators and the expansion of existing incubators in the coming months. A recent Wall Street Journal article points to these openings as a sign of revival for technology startup companies amid a relatively slow period last year as startup investment plunged during the recession.

The United Kingdom (UK) recently announced that it will petition the European Commission, the European Union’s executive body, for permission to increase the size of tax relief for social investments that address significant social issues. In the U.S., Georgetown University and Portland State University recently announced new initiatives to promote innovation that will address social issues. These universities join a growing number of institutions of higher education that are working to grow domestic social innovation, train a generation of social entrepreneurship and spur social impact investing.

A proposal first announced during Gov. Andrew Cuomo’s 2013 State of the State address came to fruition earlier this month with a request for proposals (RFP) to fund clean energy projects through New York’s newly established green bank. A green bank is a state-sponsored nonprofit lender that provides long-term, low-cost financing support. Its purpose is to increase public-private investing in clean energy while offering consumers lower-cost energy solutions, according to the Green Bank Academy. Connecticut was the first state to establish a green bank in 2011, but several other states have demonstrated interest. Participants from at least 11 other states wanting to establish their own green banks recently attended the first Green Bank Academy in Washington, D.C.

Los Angeles County (CA), New York County (NY) and Cook County (IL) topped the list of places where people older than 25 with graduate or professional degrees moved to between 2007 and 2011, according to the latest data from the U.S. Census Bureau’s County-to-County Migration Flows Tables. Middlesex County (MA) and Fairfax County (VA) also ranked among the top destinations for highly educated transplants. The Census report provides data on domestic migration at the county level, including data on income and educational attainment.

John Sider has accepted a position with Pennsylvania State Senator Vincent Hughes and the PA Senate Democratic Caucus to work on economic development policy and projects, effective April 1. Currently, Sider is the managing director of statewide initiatives at Ben Franklin Technology Partners.

Vic Nole has joined the Buffalo Niagara Medical Campus, Inc. as director of business development and entrepreneurial activity.

In an effort to help spur economic prosperity, several universities recently have unveiled new initiatives to connect potential entrepreneurs with university resources and help integrate the entrepreneurs into their region’s innovation ecosystem. The Blackstone Charitable Foundation also announced it will expand LaunchPad, a university-led entrepreneurship program, to a partnership that includes three universities in Southern California.