Most practitioners who have been in the tech-based economic development field long enough know the presence of a strong research university can make the job much easier. New innovations and technologies to commercialize through licensing and spinoff companies, research facilities and experts to partner with local companies, and a constant supply of fresh graduates for the workforce are just a few of the benefits a research institution can offer the local and regional economy.

Albany, New York
Health Reseach Inc., a branch of the New York State Department of Health, is looking to move its Pharmacogenomics Institute to a vacant laboratory in Rensselaer Technology Park, according to a recent article published in the Times Union. The 25,000-square-foot building that housed the Virogenics Corp., a vaccine-research company that left in 2000, has not been officially purchased. The state expects to lease the site when the Rensselaer County Industrial Development Agency closes on the purchase.

In an effort to help combat the present economic downturn, the Kauffman Center for Entrepreneurial Leadership at the Ewing Marion Kauffman Foundation is looking to partner with groups across the U.S. to provide training to displaced workers interested in starting new businesses. 

University of Buffalo Entrepreneurial Awards 

An in-depth look at the one-year success of a student company to win last year's first Panasci Entrepreneurial Awards at the University of Buffalo recently was highlighted in the Buffalo News. 

"If technology is at the core of the Innovation Economy, then investment in research and development is one of the principal drivers in the creation of that technology."

Massachusetts Gov. Mitt Romney promoted Renee Fry to serve as director of the Department of Business and Technology, the state agency tasked with retaining and attracting jobs and steering economic policy throughout the Commonwealth.

Sometimes a little money is all that may be required to discover that an innovation in the lab is worth millions in the marketplace. At least that's the goal of a small grant program launched this afternoon by the Massachusetts Technology Transfer Center (MTTC). The MTTC Tech Commercialization Awards will provide $5,000 mini-grants for technology assessments and investigations by academic and industrial researchers within the Commonwealth.

Jeff Brancato has been named Associate Vice President for Economic Development of University of Massachusetts.

The Kauffman Foundation recently launched "Giving Back to Entrepreneurship," a website dedicated to informing entrepreneurs how they can use their energy and creativity to support their communities and help jumpstart the next generation of entrepreneurs.

By nature, angel investing is a risky endeavor. Angels are often involved with unproven seed- and early-stage companies and are frequently the first outside investors to become involved in a new venture. Despite these risks, a report released by the Ewing Marion Kauffman Foundation and the Angel Capital Education Foundation argues that angel investors working through investor groups often achieve attractive returns.

Business incubators, known for the business support services they provide entrepreneurs, have shown themselves through the years to be a valuable resource in the process of starting and growing companies. Office and laboratory space provided at a reduced cost to tenants is just one of the benefits. Many incubators also offer access to university research, mentoring and seed and venture capital in order to encourage entrepreneurship and ensure the success of new high-technology start-up companies.

While many parts of the country are looking for innovative means to increase the number of citizens and businesses connected to high-speed Internet in both urban and rural areas, two governors recently announced initiatives targeting the further extension of broadband services throughout their states.

Against the backdrop of BIO’s annual meeting, held this week in Boston, Gov. Deval Patrick unveiled a comprehensive, collaborative Massachusetts Life Science Strategy. The plan includes a 10-year, $1 billion investment package to support biomedical and stem cell research.

Complete descriptions of these opportunities and others are available at http://www.ssti.org/posting.htm.

Voters in Missouri approved, 51 percent to 49 percent, an amendment to the state constitution that will prohibit state or local governments from preventing embryonic stem cell research. The amendment also defines what type of research is permitted.

 

To help entrepreneurs start and manage businesses, the Kauffman Foundation recently launched Kauffman eVenturing™ ( www.eVenturing.org).

Mark Robinson resigned as chief operating officer of the Massachusetts Biotechnology Council to join the American Academy of Arts and Sciences.