MD Gov Proposes $100M Venture Fund; Recommends 19% Increase for Stem Cell Research
Gov. Martin O'Malley last week unveiled details of his proposed $100 million venture fund announced last year during his re-election campaign as an initiative to grow the state's knowledge-based industries, particularly within the life sciences sector (see the June 9, 2010 issue of the Digest).
New York City Launches Green Building Tech Commercialization Center
New York City Mayor Michael Bloomberg recently launched the NYC Urban Technology Innovation Center, an initiative that will connect universities, technology companies and building owners in an effort to bring new green building technologies to market. The initiatives will provide a database of technology needs and research, and will provide researchers with real world test sites for their work. Building owners will be able to use the technologies at discounted rates.
$101M NYSTAR Increase Among Gov’s Proposals
The New York State Foundation for Science, Technology and Innovation (NYSTAR), the state’s lead tech-based economic development agency, would see a significant boost in funding under a proposal unveiled by Gov. David Paterson to distribute $100 million in new Innovation Economy Matching Grants.
Maryland Budget Request Includes $43M for BIO 2020 Initiative
In his budget presentation to the legislature last week, Gov. Martin O’Malley called for continued support of his 10-year, $1 billion plan to build Maryland's reputation as a global leader in biosciences. To this end, the governor recommends $43 million in FY11 for stem cell research, tax credits for biotech companies, and support for biotechnology commercialization and translational research.
Tech Talkin' Govs, Part I
Entering its tenth year covering governors’ State of the State, Budget and Inaugural Addresses, SSTI’s Tech Talkin’ Govs series highlights new and expanded TBED proposals from across the nation. The first edition includes excerpts from speeches delivered in the following states:
Arizona
Gov. Janice Brewer, State of the State Address, Jan. 11, 2010
Tech Talkin' Govs, Part IV
The fourth installment of SSTI's Tech Talkin' Govs series includes excerpts from speeches delivered in Alaska, Connecticut, Maryland, Michigan, Nevada, and Oklahoma. The first three installments are available in the Jan 13, Jan. 20 and Jan. 27 Digests.
Job Corner
The National Institute of Standards and Technology is seeking qualified applicants for the director of the Technology Innovation Program (TIP). The director will serve as the executive responsible for managing and leading this critical program for NIST. The TIP was established as part of the America COMPETES Act (P.L.
TBED People
Sandy Baruah has been selected to become the president and CEO of the Detroit Regional Chamber, effective March 15.
John Collar, the chief executive officer and president of the Colorado BioScience Association, resigned this week to pursue other business opportunities. Denise Brown has been selected serve as the organization's interim executive director while a search is conducted for Collar's replacement.
MD Stem Cell Research Yields Positive Results, but Best is Yet to Come
Grants made for stem cell research projects in 2008 through the Maryland Stem Cell Research Commission and the Maryland Technology Development Corporation yielded a return of nearly $3 million to state and local governments and supported more than 500 high-paying jobs, finds a recent impact report. A total $38 million was awarded to researches in 2007 and 2008 following the passage of the Maryland Stem Cell Act of 2006 and Gov. Martin O'Malley's $1.3 billion BIO 2020 Initiative in 2008, which includes $20 million per year for stem cell research.
Incubator RoundUp
Specialized and high-tech incubators provide crucial services and resources to promote and enhance Commercialization & Entrepreneurship, one of the six thematic tracks of this year's annual conference. Three sessions tied to this theme will be explored during SSTI's annual conference, focusing on direct lessons from successful and proven TBED programs, regional innovation clustering, and more. They include:
State University of New York system attempts to become "the Engine of New York's Economic Revitalization"
Nancy L. Zimpher, the Chancellor of the State University of New York (SUNY), believes that SUNY campuses statewide can become "the engine of New York's economic revitalization."Chancellor Zimpher's vision of economic development fueled by higher education is supported by a recent report from the Rockefeller institute of Government. The report describes a new paradigm of economic development in which university-driven economic development will replace the traditional mix of business attraction and retention incentives.
Cities Take Action to Support Early-stage Companies
New York City officials recently announced the launch of a $2 million seed fund to boost entrepreneurship and the local venture capital market. NYC Seed will provide up to $200,000 for seed-stage New York-based businesses and will offer mentoring and other support for client companies.
People & TBED Organizations
President Bush announced he will nominate Assistant Secretary of Commerce Sandy Baruah to serve as the administrator of the Small Business Administration.
The Rensselaer County Regional Chamber of Commerce has created the Economic Development Partnership to help businesses relocate to or expand in the county.
Energy RoundUp : States, Governors and Feds Turn Attention to Need for Clean Energy
National Governors Association
Several Statewide TBED Issues Win Voter Approval
The outcome of Tuesday's election resulted in several wins and some defeats for TBED among the more than 150 ballot measures presented to voters across the nation. Outlined below are the unofficial election results of select ballot measures from each state's respective election office and local media reports as of Wednesday, Nov. 5.
NY launches tuition-free college education for New Yorkers
On April 8, New York Gov. Andrew Cuomo announced that the Excelsior Scholarship program will be included in the state’s FY 2018 budget, after having been approved by the legislature. In its first year, the state will commit $163 million to provide tuition-free options for New Yorkers from ‘middle-class’ families at the state’s public institutions of higher education. Under the Excelsior Scholarship program, students can attend any of the colleges or universities that comprise the State University of New York and the City University of New York systems. After completing their degree, the scholarship requires that recipients must work or live in the state after graduation for the same number of years that they receive support. Cuomo contends that over 75 percent of the state’s 940,000 families with college-aged children would qualify for the program.
Maryland legislation encourages manufacturing jobs, training
New legislation in Maryland that takes effect in June provides $1 million in workforce development scholarships and builds on current apprenticeship programs, while also providing tax incentives for new and existing manufacturers to create jobs in areas of the state that need them most. Gov. Larry Hogan signed the More Jobs for Marylanders Act into law last week, a key piece of his jobs initiative. The new legislation establishes scholarships for eligible students enrolled in job training programs at community colleges, and contains measures to encourage high schools to offer additional vocational training, as well as requiring state agencies to analyze their registered apprenticeship programs.
Maryland invests in education, workforce
Earlier in the month, Maryland Gov. Lawrence Hogan announced the 2017 Maryland Jobs Initiative, a legislative package that would eliminate all state taxes for 10 years for new manufacturing employers that create jobs in high unemployment areas, as well as incentives for current employers who expand their workforce in those areas.
Cuomo talks tech and a whole lot more
NY Gov. Andrew Cuomo delivered his state of the state address over three days and six different speeches, and released his proposed FY 2018 budget following the talks. Some of his major proposals affecting the technology-based economic development field include proposals he had revealed earlier and have previously been covered in the Digest, including his proposal for free tuition as well as a major investment in the life sciences. In keeping with our Tech Talkin’ Govs series and budget reviews, some excerpts from his various speeches are detailed here, as well as a closer analysis of his proposed budget.
DOD Awards $110M Integrated Photonics Manufacturing Institute to New York
Vice President Joe Biden announced that the Research Foundation for the State University of New York will receive a $110 million federal grant from the U.S. Air Force Research Laboratory to lead the American Institute for Manufacturing Integrated Photonics (AIM-Photonics). The Department of Defense-funded grant will be supplemented by a $250 million investment from the state of New York with additional funding commitments from public and private partners expected to exceed $245 million over the next five years.
MN Adopts Equity Crowdfunding; MD Organizations Announce Partnership Crowdfunding Portal
Last month, Minnesota Gov. Mark Dayton signed the MNVest bill – an intrastate securities exemption that allows Minnesota-based companies and entrepreneurs to raise money through equity crowdfunding. To qualify for the exemption, businesses must show evidence of several requirements including being organized under state laws and that its principal office is located in Minnesota. Companies can raise capital from both accredited and non-accredited investors from across the state.
New York Investing $550 Million in Life Sciences Through 10-year Initiative
Gov. Andrew Cuomo proposed a new initiative this week to grow the life science research cluster throughout the state, pledging $550 million through a variety of programs including tax incentives, state capital grants, and investment capital with an expected match of $100 million from private sector partnerships for operating support.
$20M Awarded to 10 Public-Private Regional Partnerships Geared towards Advanced Manufacturing Initiatives
The Obama administration announced winners of the Advanced Manufacturing Jobs and Innovation Accelerator Challenge on Tuesday. The challenge — publicized earlier this year — is one of the key initiatives of the interagency Taskforce for the Advancement of Regional Innovation Clusters and is sponsored by a partnership between the U.S. Department of Commerce, the National Institute of Standards and Technology, the Departments of Energy and Labor, and the Small Business Administration.
Maryland Innovation Initiative Announces Initial Slate of Programs
Maryland's Innovation Initiative (MII), launched earlier this year, unveiled two inaugural programs on Monday aimed at commercializing technologies at the state's universities. The new Innovation Discovery Program will help universities identify promising technologies and potential collaborations by reimbursing them for the costs of employing on-site, part-time "site miners." The Innovation Commercialization Program will provide cash awards to support research, commercialization planning and product development.
TBED People & Orgs
SSTI is pleased to welcome Reese Neader to our team as a research associate. Reese is the former policy director for the Roosevelt Institute Campus Network and is a political science graduate from Denison University.
Renée Winsky has been appointed the executive director of the Chesapeake Innovation Center.
Mark Kvamme has resigned from JobsOhio effective Nov. 1. He is succeeded as president and CIO by John Minor, formerly the managing director at JobsOhio.