California

Witnessing the success experienced by its neighbor, West Virginia is creating a university R&D matching endowment program similar to Kentucky’s. The legislature approved $50 million for Gov. Joe Manchin’s “Bucks for Brains” initiative to be allocated from lottery surplus funds (see the Jan. 16, 2008 issue of the Digest).

As Massachusetts legislators are in the process of crafting a compromise bill for the statewide Life Sciences Initiative, one new issue to emerge would have the state taking an equity position in the life sciences companies in which the state provides financial support.

A little more than a year after unveiling a comprehensive proposal to provide crucial funding for R&D, commercialization and infrastructure to position Massachusetts as a global leader in life sciences, Gov. Deval Patrick signed an historic 10-year, $1 billion life sciences investment package, transforming the ambitious idea into reality.
 

Massachusetts Governor Deval Patrick recently signed two bills to improve the commonwealth's standing as a leader in environmental protection and to support the growth of the clean technology industry.  Supporters of the Global Warming Solutions Act and the Green Jobs Act believe that the legislation will position Massachusetts as a recognized center for cleantech policy and business.

According to National Science Foundation (NSF) data released two weeks ago, companies spent in aggregate $247.7 billion on R&D expenditures performed in the U.S. in 2006. Leading the nation was California, with $58.4 billion in industrial R&D, followed by Michigan ($16.5 billion), Massachusetts ($15.6 billion), New Jersey ($14.6 billion), and Texas ($13.3 billion).
 

Technology-focused incubators are an important component to fostering entrepreneurial development in a region by nurturing businesses in the earliest stages of development and helping them grow into larger companies that employ high-wage workers and bring new technologies to the market. The following select announcements provide an overview of new incubators from across the nation, illustrating the vital role of entrepreneurial development in growing high-tech regional economies.

The demand for highly qualified talent in Massachusetts' bioscience industry will add more than 10,000 life sciences workers to the state's workforce by 2014, according to a recent report prepared by the University of Massachusetts Donahue Institute.

Using one-time lottery surplus funds available for fiscal year 2008, Gov. Joe Manchin wants to invest $80 million in world-class research and specialized job training to propel the state toward a knowledge-based economy. The proposal was unveiled to lawmakers during Gov. Manchin’s State-of-the-State Address last week in conjunction with the fiscal year 2009 budget recommendation.

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.