As the development of a nation's science and technology capacity becomes a critical component for economies around the globe, it is becoming even more critical for countries to implement strategies that will enable future competitiveness.

With the 1994 School-to-Work Opportunities Act sunsetting this year and the increasing importance of developing a skilled workforce for a tech-based economy, many are asking if the initiatives launched or expanded by the Act have been successful.

Imagine President Bush using his entire State of the Union Address to present a $23 billion five-year strategy to encourage research, innovation, and entrepreneurship in the country. While it has not received much press in the United States, the equivalent happened when Australian Prime Minister John Howard gave his annual Federation Address on January 29.

In what could be the largest private sector commitment yet to a single industry/university research center, Corning, Kodak ,and Xerox have combined to pledge a staggering $45 million toward establishing a Center of Excellence in Photonics and Optoelectronics in Rochester, N.Y. The three corporate giants also committed to help raise another $30 million from other private sector companies for the new partnership involving New York State, higher education, and private enterprise.

Whether it is proposal A, proposal B, or some combination of A and B, university research and development efforts in New York stand to gain an additional $40-50 million per year for the next five years. The new funding would be in addition to the $135 million injection of state funding directed toward university research excellence through the New York State Office of Science, Technology and Academic Research (NYSTAR).

Several warnings have been issued in recent years about U.S. dominance in the world's scientific and technological communities slipping: the number of science and engineering (S&E) doctorates awarded per capita; the dearth of women and minorities entering technical fields; the facility in which knowledge, companies and people can be transferred globally; scores on standardized math and science tests; and indicators for global entrepreneurship, to name a few.

With disaster comes opportunity for dramatic changes to occur through the healing and rebuilding processes. Floods, hurricanes and tornados have helped to energize devastated areas into becoming more vibrant communities. The deep recession of the late 80s and restructuring of many key industrial sectors ushered in many state tech-based economic development programs, the benefits of which are being felt more than a decade later. 

The Australian Government has enacted new rules to attract international private equity investment in the country’s venture capital community. The rules introduce tax concessions for international investors, including university endowment funds and venture capital fund-to-fund vehicles. The rules will treat these investors in the same way as pension funds, exempting them from capital gains tax on their Australian investments.

The European Commission's 2001 European Innovation Scoreboard, characterizing the strengths and weaknesses in the capacity for innovation of the European Union (EU) and its member states, shows the EU continues to lag behind the U.S. and Japan. 

Whether it's called clusters or localization economies, the aggregation of firms in the same or closely related industries has captured the attention of many state and local tech-based economic development efforts. Understanding the phenomenon and formulating effective public policy to encourage or support clustering presents challenges for practitioners and researchers alike. 

Declaring September “Nonprofits & Technology Month,” the Foundation Center has launched a website presenting myriad financial and technical assistance resources to support the acquisition and use of information technology in nonprofit organizations.

Michael Relyea has been named executive director of New York State Foundation for Science, Technology and Innovation, the public benefit authority that oversees the New York State Office of Science, Technology and Academic Research (NYSTAR). Dr. Russell Bessette, executive director of NYSTAR, will serve as chief science advisor for the foundation and its board.