Innovative companies involved in commercializing research with universities and federal agencies often cite complicated contracts and uncertainty surrounding the process as a barrier to bringing more technologies to the marketplace. In an effort to remove some of those hurdles, two new initiatives recently were announced from the University of Minnesota (UM) and the Department of Energy (DOE).

On June 11, Gov. Donald L. Carcieri signed the Job Creation Guaranty Program. Sponsored by House Finance Chairman Steven M. Costantino and Senate Finance Chairman Daniel Da Ponte, the legislation establishes a $125 million dollar loan-guarantee program for the knowledge and technology-based sectors. Under this program, the state will not directly issue any loans. Instead, it will provide state backing to facilitate private loans. The Rhode Island Economic Development Corporation (RIEDC) will administer the program.

The Small Business Administration (SBA) announced the selection of 10 regional economic development and job creation efforts through a new pilot program, Innovative Economies, that supports small business participation in regional economic clusters. SBA's funding is designed to expand the opportunities and the role small businesses play in these regional collaborations. The awardees were selected from among 173 applicants. Awards went to organizations in: Alabama, California, Connecticut, Illinois, Michigan, Minnesota, Mississippi, North Carolina, Ohio and South Carolina.

Craig Dye was named director of the Mtech VentureAccelerator Program, a fast-track, early admission program tied to Mtech's Technology Advancement Program.

The Minnesota High Tech Association announced Margaret Anderson Kelliher, speaker of the Minnesota House, will assume the role of president of the Association beginning in January after she leaves public office.

Often credited with contributing significant revenue to states' economies, research parks also house facilities for workforce training and provide resources for tech-based industries, which is especially important as the nation's employment begins to pick up steam. In West Virginia, officials are building a $15 million advanced technology-training center at the state-owned research and technology park, and in Utah, officials recently broke ground on a building that will house engineers and analysts working on the nation's Intercontinental Ballistic Missile program.

Minnesota needs additional support for science and technology commercialization, manufacturing and entrepreneurship in order to remain competitive, according to a new strategic plan released by the Minnesota Science and Technology Authority. The plan recommends an initial appropriation of $10 million annually, ramping up over ten years, to invest in the state's R&D capacity, talent development and capital and business development.

Alabama then-Governor-elect Robert Bentley on January 3 named former House Speaker Seth Hammett as director of the Alabama Development Office, replacing Interim Director Linda Swann. He also appointed the president of the Birmingham-based Economic Development Partnership of Alabama, Bill Taylor, to lead efforts to grow and retain existing Alabama industries, while at the same time recruiting new businesses to the state.

Having the tools and resources to develop innovative concepts and products and move discoveries from the lab to the marketplace is an essential component for building tech-based economies. Research parks, a place where innovative ideas are borne, partnerships between university and industry are created, and companies grow and create new jobs, provide a foundation for the kind of economic growth necessary to compete in a global economy. Over the past few months, development plans and groundbreaking announcements from research parks across the nation have been made.

At the close of the 2010 legislative session in Minnesota this week, several initiatives supporting the state's tech-based economic development agenda were enacted into law. To help make the state more competitive, the Minnesota Science and Technology Authority was established to develop and implement a comprehensive strategy for growing the state's economy through investments in science, technology and innovation.

Over the past few months, several states have announced efforts aimed at reducing the nation's dependence on oil. While the importance and urgency of such efforts is perhaps magnified in the wake of one of the worst U.S. environmental disasters, the shift to a renewable energy-focused economy also brings with it the expectation of job creation, new product development, and increased revenue for states struggling in the aftermath of the Great Recession.

Tech Talkin' Govs, Part V
The fifth installment of SSTI's Tech Talkin' Govs' series includes excerpts from speeches delivered in Minnesota, New Jersey, and Tennessee. The first four installments are available in the Jan. 13, Jan. 20, Jan. 27, and Feb. 10 Digests.

The fifth installment of SSTI's Tech Talkin' Govs' series includes excerpts from speeches delivered in Minnesota, New Jersey, and Tennessee. The first four installments are available in the Jan. 13, Jan. 20, Jan. 27, and Feb. 10 Digests.

Last week the Rhode Island Economic Development Corporation (RIEDC) released its strategic agenda for accelerating the growth of the state's green economy, distributing action items among four topical groupings: advanced manufacturing, energy efficiency, innovation cultivation, and wind power. A Roadmap for Advancing the Green Economy in Rhode Island was produced from a series of roundtables over the past year with 120 representatives from state government, universities, industry, labor, and other economic development nonprofit entities.

Gov. Tim Pawlenty recently unveiled his 2010 supplemental budget recommendations, which includes new tax incentives to boost job creation and spending cuts across state agencies to help eliminate a projected $1.2 billion deficit.

The Minnesota legislature has passed a 25 percent tax credit for individuals and pooled funds that invest in early-stage high-tech businesses as part of a new jobs bill. Up to $17 million in tax credits will be available in FY11, with $12 million a year available in FY12 and afterward. The credits apply to investments in companies with fewer than 25 employees and less than $2 million in private capital.

The fourth installment of SSTI's Tech Talkin' Govs' series includes excerpts from speeches delivered in Illinois, New Hampshire, Tennessee, and Rhode Island. The first three installments are available in the Jan. 11, Jan. 18 and Jan. 25 editions of the Digest. Illinois Gov. Pat Quinn, State of the State Address, Feb. 1, 2012 "Today, I'm announcing a $2.3 million dollar investment in '1871,' a new technology center at the Merchandise Mart in Chicago to foster and launch digital start-ups.

Richard Bendis has been named the first president and CEO of BioHealth Innovation, Inc. a regional private-public partnership focusing on commercializing market-relevant biohealth innovations and increasing access to early stage funding in Central Maryland.

In the wake of a potential overhaul to the state's economic development strategy, Gov. Lincoln Chafee received two reports analyzing the strengths and weaknesses of Rhode Island's existing industry clusters and identifying potential new opportunities. The reports provide guidance for consideration by the Sustainable Rhode Island Initiative, a multi-agency effort to develop an integrated approach for the state related to land use, transportation, housing and economic development.

Chris Coburn, the founding executive director of Cleveland Clinic Innovations, is leaving at the end of May to join Boston-based Partners Healthcare, the largest healthcare system in Massachusetts.

Mary Jo White has been confirmed by the Senate as the new head of the Securities and Exchange Commission.

NIST MEP has finalized cooperative agreements to create new MEP Centers in Arizona and Rhode Island. NIST is awarding $1 million to the Arizona Commerce Authority and $750,000 to the University of Rhode Island Research Foundation to serve small- and mid-sized manufacturers in their states. Read the release...

Over the last week, several states have announced/passed new programs focused on increasing the capital available to spur small business growth and innovation. Officials from New Jersey announced the state's new angel tax credit will take effect July 1. In Arizona and Wisconsin two bills await gubernatorial approval that would rework the Arizona R&D tax credit program and establish a $75 million venture capital fund in Wisconsin. Meanwhile, the Minnesota state legislature did not approve an additional $5 million for its popular Small Business Investment Tax Credit.

A three-year effort to implement an SBIR state matching funds program gained enough traction this legislative session to win support from Rhode Island lawmakers. The measure was spearheaded by a group of leaders from 24 life science companies who advocated for a statewide program to encourage small business R&D and commercialization. Lawmakers appropriated $500,000 for the effort in FY14. Adding a workforce development component to the measure, a new bioscience and engineering internship also will be established to enhance the state's talent pipeline.

During this year’s legislative sessions, several states looked toward creating, providing support for or redesigning programs that help incentivize businesses to hire and mentor student interns. In an effort to spur rural internships, Minnesota lawmakers approved a new tax credit program to support internships for students in greater Minnesota. In North Dakota, lawmakers committed $1.5 million to their Operation Intern program, while Nebraska lawmakers updated their Intern Nebraska grant program to provide students with a high-quality internship experience. Rhode Island Gov.

As many state legislative sessions wind down, a clearer picture of the current direction of state innovation policies is emerging. This week’s SSTI Weekly Digest presents a few of the major trends in technology-based economic development initiatives approved by state legislatures during their most recent sessions. While this review is not meant to be comprehensive, it should illuminate the shifts states are making to refine their investments in the high-tech economy by providing smarter, more targeted support.

A recent report by the Association of University Technology Managers (AUTM) dubbed American universities the “unsung heroes in the economic recovery.” Through licensing and startup activity, universities and other groups earned more than $2.6 billion total income from royalties and other sources in FY12 alone, according to the report highlights.