The Fund for Our Economic Future, a new collaboration of Northeast Ohio private, community and corporate foundations to support regional economic development, has secured more than $22 million in commitments and is expected to grow to $30 million. Launched last week, the fund is believed to be the largest and most comprehensive philanthropic collaboration of its kind in the U.S.

As with every public policy or program to promote economic development, TBED initiatives can fall victim to critics’ concerns regarding the value of these approaches if performance measurement is not an integral component of your efforts. Fair assessment of impact, though, remains a thorny issue for many TBED strategies because of the early stage of investment (e.g. support for university research, entrepreneurship education or even seed capital).

 

The following recently became SSTI affiliates or supporters:

The Canadian Government this week released its budget for the 2008-2009 fiscal year, which includes several new TBED-related initiatives and increases in funding for a few existing programs. The government plans to leverage its relatively strong fiscal position by providing tax relief and paying down the national debt, while providing $606 million for workforce development and $440 for research over the next two years. Major science and technology (S&T) initiatives in the 2008 budget include:

Earlier this month, three universities - Stanford University, the University of Texas at Austin and the University of California, Berkeley - announced partnerships with the King Abdullah University of Science and Technology (KAUST), a graduate-level research university set to open in Saudi Arabia by September 2009. Each of the U.S.-based universities will assist with the development of the following initiatives within specific academic fields of study at KAUST:

Membership in SSTI allows access to the most extensive network of current and past practitioners, academics and policymakers who are attempting to speed commercialization and encourage innovation.

Joining SSTI places your organization with today’s TBED leaders. SSTI connects you to active members in 46 states, Puerto Rico and Canada, enabling you to share experiences and best practices with your peers from across the continent.

Coming a little late in the year to be included among our Tech Talkin’ Govs series (see Digest issues for Jan. 8, 15 and 29 and Feb. 19), Ohio Gov. Ted Strickland delivered his first State of the State Address on Mar. 14. Below are excerpts from his address calling for a $1 billion investment in alternative and renewable energy technologies over four years.

 

SSTI serves as the TBED community’s go-to resource and strategic partner when dealing with TBED issues. SSTI’s unique ability to address the information needs of its members comes from the fact that SSTI’s staff and board have been “in the trenches” of technology-based economic development. SSTI’s president, vice president and board members, including former Governors John Engler of Michigan and Michael Dukakis of Massachusetts, have more than two decades’ of direct policy development and service delivery experience.

Dan Lohymeyer has stepped down as president of Ohio's IT Alliance.

The new executive director of the Center for Regional Economic Issues is Edward Morrison.

The SSTI Weekly Digest will be taking a brief summer break and will resume publication on Friday, August 22.

Last year, China replaced the U.S. as the most popular destination for foreign direct investment (FDI). The creation of an IBM Research Innovation Center as an extension of its China Research Lab near Beijing University provides a recent example of U.S. interest in capitalizing on China's emergence as the planet's hottest economy.

Finland remains the most competitive economy in the world and tops the rankings for the second consecutive year in The Global Competitiveness Report 2004-2005, released earlier this month by the World Economic Forum (WEF). The U.S. is in second position, followed by Sweden, Taiwan, Denmark and Norway, respectively.

Jesse Jones is the new CEO of Ohio's IT Alliance. Jones formerly was chief technology officer of the City of Columbus.

In order to provide further incentives for crucial research and development (R&D) and to encourage more industries to carry out R&D in Scotland, Scottish Enterprise, the economic development agency for Scotland has launched a new funding scheme.

Seekers for evidence of the increasingly global nature of competition on the research and innovation levels need look no further than some recent announcements stemming from Malaysia.

China is focusing on the newest and most promising areas of technology to expand economic growth through the development of high-tech industries, suggests a new report released by the nation's government. The report, 2004 Guidelines for Priority on Key Technology Areas, indicates China will channel investments to 134 key sectors and promote exports, according to an article in The Scientist.

Tony Brown, director of the Community Development Financial Institution (CDFI) Fund at the U.S. Treasury Department, announced his resignation effective Feb. 27, to become chief executive officer of the Uptown Consortium in Cincinnati.

Ohio State University has appointed Vicki Butland to serve as interim president and chief executive officer for the Science and Technology Campus Corp.

Ohio’s IT Alliance (OITA) invites applications and nominations for the position of President and Chief Executive Officer. OITA's mission as a statewide public/private partnership is to drive the growth and improve the competitiveness of Ohio through the development and support of its information technology industry. The new President will enhance OITA’s role as the key public/private catalyst for industry growth and success.

In what may be the first gift of its kind, a $5 million cash donation has been made to a technology transfer office to endow the commercialization of new health technologies. The Cleveland Clinic announced receipt of the donation from John Ferchill, a Northeast Ohio real estate developer, in mid-December.

The SSTI Weekly Digest will resume publication on January 9. We hope all our readers have a safe, prosperous, and happy 2004.

It is only through the involvement of the each and every one of our more than 185 members that SSTI is able to continue its mission -- to lead, support and strengthen efforts to improve state and regional economies through science, technology and innovation. Together, we’re growing a strong and vibrant tech-based economic development community. New members include:



State Sponsors

Kansas Bioscience Authority

This is your opportunity to shine in the spotlight! By hosting SSTI’s 14th Annual Conference in 2010, you can increase your national and international visibility by showcasing the success of your state and/or community’s tech-based economic development efforts to thousands of TBED professionals.

Responding to a statewide economic downturn, Gov. Ted Strickland announced two major TBED initiatives, injecting more than $1 billion into job creation and offering a free year of tuition at Ohio public universities for high school seniors.