Massachusetts Makes $1B Investment in Community Development, Workforce Training, Innovation
Midwest States Launch Public-Private R&D Centers in Key Manufacturing Industries
Over the last few weeks, Indiana and Michigan have announced the launch of manufacturing-focused innovation centers to help transform manufacturing sectors that are long-standing drivers of economic prosperity in their respective state into 21st century global hubs for manufacturing innovation. In partnership with key local industry partners, these centers are intended to help spur job creation while reimaging the role of manufacturing in their state through innovation.
Universities Seek External Funds for Big Data R&D Centers
The big data technology and services market is expected to grow at a compound annual rate of 23.1 percent over the 2014-2019 forecast period, with annual spending projected to reach$48.6 billion in 2019, according to a 2015 study from IDC – a market research firm. Hoping to leverage this exponential growth into research and economic development opportunity, several universities are fund raising to establish new big data R&D Centers in the communities they serve.
Nine states explore science policy fellowships
After training nearly 80 PhD scientists and engineers in the craft of policy making, the California Council on Science and Technology (CCST) has awarded planning grants to nine other states to evaluate the potential to create a policy fellowship for scientists and engineers in their state capital. The new one-year grant, which is administered by CCST and funded by the Gordon and Betty Moore Foundation and the Simons Foundation, will support teams in Alaska, Colorado, Connecticut, Idaho, Massachusetts, Michigan, New Jersey, North Carolina, and Washington as they work on feasibility studies and other strategic steps toward creating science fellowships in their state policy arenas.
Tech Talkin’ Govs 2018, part 4: CA, HI, MA, MI, ND, SC, WI
SSTI’s Tech Talkin’ Govs feature continues as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this fourth installment, we present excerpts from governors in California, Hawaii, Massachusetts, Michigan, North Dakota, South Carolina and Wisconsin.
SSTI’s Tech Talkin’ Govs feature continues as governors across the country roll out their state of the state addresses. We review each speech for comments relevant to the innovation economy, and bring you their words directly from their addresses. In this fourth installment, we present excerpts from governors in California, Hawaii, Massachusetts, Michigan, North Dakota, South Carolina and Wisconsin.
This week’s review includes states like California with its goal for lower carbon output to Hawaii and Massachusetts who are looking to increase their use of renewable energy sources. Meanwhile, energy-dependent North Dakota is looking to diversify its economy and Wisconsin seeks ways to build its workforce.
Policymakers leverage public libraries to promote innovation
For hundreds of years, libraries have helped drive American innovation by serving as a trusted resource and providing information to a wide range of individuals. As libraries continue to implement their own initiatives in this space, policymakers across the country have recently turned to them as a way to level the playing field around workforce development and entrepreneurial support.
Workforce winning in latest state budget proposals; KS, MA, MI, OK, TN reviewed
Workforce development programs and apprenticeships continue to win favor in many of the governors’ state budget proposals. In our latest review of TBED initiatives being proposed in state budgets, we found Kansas asking for additional funds for research, worker training and apprenticeships; Massachusetts is looking to double community college scholarship funding and increase several workforce development initiatives; and in Michigan, skilled trades training would receive a boost.
Kansas
Workforce development programs and apprenticeships continue to win favor in many of the governors’ state budget proposals. In our latest review of TBED initiatives being proposed in state budgets, we found Kansas asking for additional funds for research, worker training and apprenticeships; Massachusetts is looking to double community college scholarship funding and increase several workforce development initiatives; and in Michigan, skilled trades training would receive a boost.
17 Governors Sign Accord to Promote Clean Energy, Economic Prosperity
A bipartisan group of 17 governors signed the Governors’ Accord for a New Energy Future – a joint commitment to support the deployment of renewable, cleaner and more efficient energy technologies and other solutions to make the U.S. economy more productive and resilient as well as spur job creation in member states.
Mayo Clinic policy change spurs entrepreneurship in Southeastern Minnesota
A change in policy at the Mayo Clinic has “single-handedly sprouted a startup ecosystem in Rochester, as med-tech startups, accelerators, co-working spaces and a venture capital ecosystem have flourished in the area over the last half decade” according to new research by Maddy Kennedy of the The Minneapolis/St. Paul Business Journal.
Loans for innovation: MN pilots a rare model
The Minnesota Department of Deployment and Economic Development (DEED) has launched a new loan program for entrepreneurs with high-tech products or services. The loans are similar in size to microfinance options increasingly available to new bricks-and-mortar establishments, but flexible payment options and innovation-focused criteria are intended to make Minnesota Innovation Loans for Entrepreneurs (MILE) uniquely appropriate for tech-based economic development.
MA Group Crafts Strategy to Confront National Decline of Early Stage Bio Capital
Massachusetts’ continuing success in the biopharmaceutical sector depends on finding new ways to fund startup and early stage research activities, according to a new strategic plan released by the Massachusetts Biotechnology Council (MassBio). The report cites recent data showing that life sciences venture capital has fallen by 50 percent over the past five years and many investors have turned to later stage investments.
MA Gov Announces Innovation-Focused Economic Development Package
Massachusetts Gov. Deval Patrick has unveiled an economic development package intended to bolster the state’s role in the global tech economy through multi-year investments totaling an estimated $100 million.
MA Continues to Lead U.S. in Progress Toward ‘New Economy,’ According to ITIF
Massachusetts continues to reign as the U.S. state best prepared to meet the challenges of the current and future global economy, according to the sixth edition of the Information Technology and Innovation Foundation’s (ITIF) State New Economy Index.
Public, Private Sector Entities Announce Initiatives to Connect Globally
As the world becomes more globally connected, both public and private entities have turned their attention to foreign markets in the hopes of spurring innovation, capital creation, and economic prosperity. Whether their effort is developing international business partnerships, attempting to attract foreign direct investment (FDI), investing in startups, or taking advantage of international demand, the entities establishing these initiatives view long-term economic success for both firms and regions as dependent upon entering the global market place.
MI and VA see increases in TBED budget, while MA Gov vetoes some line items
Funding for TBED programs took a hit under Massachusetts Gov. Charles Baker, who vetoed millions of dollars in programs that the legislature had approved in the FY 2018 state budget. Michigan programs fared better with funding maintained to diversify the state’s economy and funding for entrepreneurship ecosystems getting a boost. And in Virginia, after a messy budget process addressing an addendum to its biennial budget, many innovation programs saw increases.
Massachusetts
Funding for TBED programs took a hit under Massachusetts Gov. Charles Baker, who vetoed millions of dollars in programs that the legislature had approved in the FY 2018 state budget. Michigan programs fared better with funding maintained to diversify the state’s economy and funding for entrepreneurship ecosystems getting a boost. And in Virginia, after a messy budget process addressing an addendum to its biennial budget, many innovation programs saw increases.
MA Gov proposes $500M for life sciences
Massachusetts Gov. Charlie Baker announced a legislative proposal that would provide $500 million over five years for the life sciences sector, extending the state’s commitment to the biotech and medical technology industry. The money would be used for strategic investments in public infrastructure, research and development, workforce training and education.
TBED funding to increase in some state budgets, cut in others; CA, HI, MN, NV, ND, RI
SSTI has reviewed another mix of state budgets as governors across the country continue to release their proposals. Some states, like California and North Dakota, are seeing cuts in the amount of money designated for TBED-related work, while others like Minnesota are in a more favorable fiscal situation and continue to fund such initiatives. Still others, like Rhode Island, are proposing new initiatives.
MA Lawmakers Pass Economic Development Bill, Awaits Gov Approval
On August 1, the Massachusetts lawmakers enacted a comprehensive economic development bill (H.4377). The bill currently awaits Gov. Deval Patrick’s approval. Per state law, Gov. Patrick has until August 14 to sign the bill, 10 days after he received it. The approved bill that received unanimous approval by the Massachusetts state Senate was passed as a comprise package between two bills proposed in the Senate and House.
MN, IA, Other States Look to Strong Agbiosciences Industry to Support Economic Prosperity
Minnesota’s economic future may well be rooted in its historic leadership in agricultural production, according to a new report prepared by Battelle, Agbioscience as a Development Driver: Minnesota Agbioscience Strategy.
CA, MN University Systems Take Different Approaches to Startup Support
Within the past month, two of America’s major research universities – the University of California system (first in total R&D expenditures, according to the NSF) and the University of Minnesota-Twin Cities (eleventh in total R&D expenditures) announced new funds to increase the rate at which their students, faculties, and researchers are able to commercialize their ideas into new businesses.
States, industry partners launch workforce training efforts focused on 21st century jobs in CA, KY, MD, MI, NC, TN
Due to the effectiveness of employer-sponsored training program, U.S. states are working to build partnerships with industry partners that leverage public resources to help develop a 21st century workforce that addresses specific industry needs. Over the last month, partnerships have been announced between states and key industry leaders including AGCO, CVS, Tesla, and the U.S. Chamber of Commerce Foundation. Some of those collaborations are detailed below.
Due to the effectiveness of employer-sponsored training program, U.S. states are working to build partnerships with industry partners that leverage public resources to help develop a 21st century workforce that addresses specific industry needs. Over the last month, partnerships have been announced between states and key industry leaders including AGCO, CVS, Tesla, and the U.S. Chamber of Commerce Foundation. Some of those collaborations are detailed below.
Annual Reports Highlight Tech Commercialization Successes
Three research-focused economic development organizations have released reports over the course of the last month detailing their progress in supporting economic growth, innovation, and beyond. The University of Massachusetts, the Georgia Research Alliance, and the Virginia Center for Innovative Technologies each use a different approach to measure their success and to communicate their impact to external stakeholders. The variety of releases demonstrates the range of approaches that organizations use to provide useful data in a format that attracts attention to their achievements.
Universities Re-imagine Alumni Engagement With Angel Networks, Crowdfunding
Over the last several years, universities have been forced to reimagine ways that they engage with alumni beyond the traditional method of fundraising via alumni donations. These universities and their alumni associations want to increase alumni involvement and facilitate interactions between their high-achieving alumni, faculty, and students. Over this same time span, many universities have increased the size and scope of their entrepreneurship curricula and degree programs.
MIT Calls for Stronger Links Between MA Manufacturers, Innovation Ecosystem
Massachusetts needs an advanced manufacturing strategy, preferably one based on regional public-private consortia, according to a new report from the MIT Industrial Performance Center. In Strengthening the Innovation Ecosystem for Advanced Manufacturing: Pathways & Opportunities for Massachusetts, the group recommends that the state look to the federal Institutes of Manufacturing Innovation to develop its own manufacturing infrastructure.
Governments Benefiting from Tech Entrepreneurs: The Tables Have Turned
The field of technology-based economic development strives to provide opportunities and support for budding entrepreneurs and technology-based startups in hopes of strengthening our economies. But, policymakers and governments have much to gain directly from the pool of talented tech entrepreneurs. Technology startups are tapping into the $142 billion public sector market and are helping governments reduce costs and improve their services through innovative web applications and, in some cases, total system overhauls.