Tobacco Settlement Board Commits Up to $20M for Life Sciences in Pa.
Pennsylvania's Tobacco Settlement Investment Board (TSIB) recently approved a commitment of up to $20 million to Birchmere Ventures III LP to invest in life sciences companies based in Pennsylvania. Birchmere Ventures III, a new fund jointly formed by Pittsburgh-based Birchmere Ventures and San Francisco-based Bay City Capital, will raise up to $150 million.
SSTI Conference News: Intro Sold Out, Room Block Extended
As with last year's conference, registration has been brisk for SSTI's 5th annual conference, Creating Opportunity: Tools for Building Tech-based Economies. To make sure the event is the quality and caliber expected of an SSTI event, we anticipate once again the event will sell out — possibly before the September 5 deadline for early registration. SSTI encourages interested parties to complete the registration form on their brochure or on the website at their earliest convenience.
Pittsburgh Mayor to Lead 'Tech City' Tour for SSTI Conference
Tom Murphy says when he first took office as Mayor of Pittsburgh in January 1994, the city was suffering from one of the worst inferiority complexes in its history. To be sure, Pittsburgh once was known first and foremost as being the capital of steelmaking in the U.S. By 1994, the devolution of U.S. steelmakers during the past 25 years had taken its toll on the steel city, physically, economically and psychologically.
Southeastern PA To Map Nanotechnology Assets
The Ben Franklin Technology Partners of Southeastern Pennsylvania has issued a Request for Proposals to develop an asset-mapping study of the nanotechnology sector in the four-state Philadelphia Consolidated Metropolitan Statistical Area.
Gov. Ridge to Keynote SSTI’s Fifth Annual Conference
Pennsylvania Governor Tom Ridge will deliver the keynote address at Creating Opportunity: Tools for Building Tech-Based Economies, SSTI’s Fifth Annual Conference, which will be held September 19-21, 2001 at the Omni William Penn in Pittsburgh.
$10 Million Gift Opens Tech Center at Wharton
The William and Phyllis Mack Center for Technological Innovation was founded last month at the Wharton School of the University of Pennsylvania. The center is the product of a $10 million gift from William L. Mack, the president and senior managing partner of the Mack Organization — a national owner, investor and developer of warehouse facilities.
Life Sciences Wins Big in PA Tobacco Settlement Plan
After nearly two years of discussion between the state legislature and the Governor’s office, Pennsylvania has enacted a plan for its $11 billion share of the national tobacco settlement. The final plan includes $160 million in one-time outlays for research and commercialization of life science technologies and a formula ensuring research gets nearly one-fifth of the total money received over the 25-year span of the settlement agreement.
Highlights include:
Maine 7th Graders to Get Laptops
To strengthen Maine’s ability to compete in a knowledge-based economy, Governor Angus King proposed last year that the state create a $65 million endowment that would annually purchase and place a laptop in the hands of every seventh grade student in the state. A one-time $50 million state appropriation was to be matched by $15 million in private contributions. Interest off the endowment would have allowed every 7th-12th grader to own a laptop PC by 2007.
People
Mark Lang, CEO of the Ben Franklin Technology Partners of Northeastern Pennsylvania for the past 14 years, has announced his resignation.
People
The Center for Environmental Enterprise (CEE) in South Portland, Maine announced the hiring of a new executive director. John Ferland assumed leadership of CEE in late April.
Comprehensive Internet Studies Issued in Maryland, Maine
Two recent studies on Internet usage in Maryland and Maine offer detailed maps of broadband infrastructure. The studies offer some insights on how businesses and, in the case of Maryland, private citizens are accessing the Internet. Specific findings are not presented below; however, each of the studies are available in their entirety via the links that follow the respective summaries.
Organizational Updates
The Lehigh Valley Technology Network was launched mid-April in Bethlehem, Pennsylvania. Organizing efforts were led by the Lehigh Valley Chamber of Commerce, the Ben Franklin Technology Partners of Northeastern Pennsylvania and the Lehigh Valley Economic Development Corp. One of the Network's potential roles, according to The Morning Call, may be to serve as a liaison between high-tech entrepreneurs and a new angel capital group, the Northeast Pennsylvania Angel Network.
University of Pennsylvania Science Center Plans $600M Expansion Project
To further accommodate and cater to fledgling biotechnology, high-tech and start-up companies, the University of Pennsylvania Science Center in Philadelphia recently announced plans to add 1.85 million sq. ft. through the construction of six new buildings with retail and parking components.
Pennsylvania Governor Announces $100 Million to Seed Biotech Initiatives
On Wednesday, Pennsylvania Governor Mark Schweiker officially launched Pennsylvania's Life Sciences Greenhouse, an historic initiative to be spread among three regions of the state — Southeast, Southwest and Central Pennsylvania.
SSTI Editorial: Embracing Change: Analysis of Maine's Laptop Victory
One of the biggest obstacles many communities and states face to building tech-based economies is convincing traditional businesses, institutions and the general population to embrace change, technological advance, and innovation. A common element of many strategic plans is at least one recommendation or even an entire report dedicated to changing perceptions of the community or state toward being a technology mecca — or at least getting people to think about and recognize the importance of science and technology investments.
Biotech Plan for Southwestern Pennsylvania Released
To shed light on the strengths and weaknesses of the region's biotechnology cluster, Carnegie Mellon University's Center for Economic Development (CED) has published A Biotechnology Action Plan for Southwestern Pennsylvania. The CED report says the Pittsburgh biotechnology cluster largely depends on the amount of available venture capital and the development of new technologies and that total funding levels must be increased to continue biotech development.
People
Don Smith has been appointed Vice President for Economic Development at the new Mellon Pitt Carnegie Corporation. MPC, a joint venture of the University of Pittsburgh and Carnegie Mellon University, is intended to coordinate the economic development and tech commercialization activities of both schools.
Maine Voters Pass $5M R&D Bond
Voters in Maine passed a bond issue authorizing the state to borrow $5 million for biomedical and marine research and development by Maine-based nonprofit and state research institutions.
Maine Studying Impact of Public R&D Investment
Nearly every state legislature annually appropriates some level of funding to support research and development activities in the state's nonprofit, university, and industrial research communities. Few, though, have developed long-term, systematic attempts to measure the impact of those investments.
Technology Sector is Strong, Pittsburgh Tech Council Report Shows
The Pittsburgh Technology Council's State of the Industry Report shows the region's technology sector, while continuing its growth, has become a significant driver of southwestern Pennsylvania's overall economy.
SSTI Conference Update
SSTI's fifth annual conference, Creating Opportunity: Tools for Building Tech-based Economies, will take place December 3-4, 2001, at the Omni William Penn in Pittsburgh, Pennsylvania. The conference agenda remains intact from the original mid-September dates with almost all speakers reconfirmed. (see the conference agenda on SSTI's webpage: http://www.ssti.org/Conf01/agenda.htm [expired] )
SSTI Conference Rescheduled for December 3-4
SSTI’s fifth annual conference, Creating Opportunity: Tools for Building Tech-based Economies, has been rescheduled for December 3-4. The agenda and location of the conference remain the same.
SSTI's Annual Conference Update: Discount Ends September 5
Early registration for SSTI's 5th Annual Conference, Creating Opportunity: Tools for Building Tech-based Economies ends on Wednesday, September 5. To lock in the discounted rate, submit your registration by the end of September 5 by fax to 614.901.1696 or online at https://www.ssti.org/registration01.htm Those paying by check are encouraged to submit their registration form by fax or online as well and post the check by regular mail.
Pennsylvania Budget Includes $208 Million for Tech-based ED, Research
Pennsylvania has been a leader in tech-based economic development for more than two decades. With more than $208 million for tech-based economic development initiatives, the 2001-02 Budget Request submitted by Governor Tom Ridge this week shows why the state remains at the forefront of the field.
Maine Task Force Recommends State-Purchased Computers for Students
In a follow-up to Maine Governor Angus King’s call for every 7th grader to have a laptop computer that they would use in school and could take home, the Task Force on the Maine Learning Technology Endowment has recommended that every student and teacher in the 7th through 12th grades be provided with computers that would be wireless and portable. The computers could be used in the classroom and, pending school district permission, be taken home.