NY Gov Unveils Tax-Free Zones at SUNY Campuses
Businesses on SUNY campuses outside of New York City, and on certain designated private campuses, will be exempt from sales, property and corporate state taxes under a new initiative unveiled this week by New York Gov Andrew Cuomo. In addition, employees of these businesses will be exempt from income taxes. Eligible businesses must have a relationship with the host university related to its academic mission. The state will offer an additional 3 million square free of tax-free commercial space at New York private universities as part of the Tax-Free NY initiative.
Lab Space, Commercialization Support Backed by State Governments
State legislators in many parts of the country took action this year to fund the construction of research infrastructure and provide financial support for commercialization. In Kansas, New York, Georgia, Maine and Wyoming, legislators funded the construction of laboratories and other innovative spaces at public universities to boost the high-tech economy. In Colorado, Maryland and a number of universities, new initiatives were rolled out to support public-private research collaborations and the commercialization of cutting-edge technology.
States Shift Priorities Toward Long-Term Research Capacity Building
With an eye toward long-term payoffs associated with investments in research, lawmakers dedicated funds and strengthened ties with industry partners. Some states made significant investments in facilities and R&D to grow cancer research capabilities, while others looked to universities to establish new avenues for discovery or attract star researchers. In Washington, the life sciences community banded together to save a nine year-old grant fund that invests in R&D and helps the state remain competitive.
SUNY Research Foundation Seeks Information on University-Focused Venture Investment
The Research Foundation for State University of New York (SUNY) is seeking feedback regarding the translation of SUNY research and innovation into meaningful startup company formation, acceleration and growth through targeted venture investing. In particular, the foundation seeks ideas on how SUNY could connect research experts to entrepreneurial leaders, advisors, or mentors in order to build upon emerging industry sector strengths.
TX, GA, NY, TN Incubators Top Global University Business Incubator Index
Rice University's Rice Alliance for Technology and Entrepreneurship has been named the top university business incubator in the world by the University Business Incubator (UBI) Index based in Sweden. The group reviewed 550 university business incubators and studied 150 incubators to determine the top incubators in the world based on their value for the ecosystem, their value for clients, and their attraction rate and past performance. Other U.S.
States, Universities Support Lean Innovation Approach Driving 3D Printing Renaissance
Industry support for additive manufacturing is exploding as startups find new ways to market the technology to businesses. States and universities are taking advantage of this growing trend to form partnerships with companies that support the lean innovation approach is driving the 3D printing renaissance.
Research Centers Gaining Momentum with Help from Private-Sector Partners
The co-locating of researchers, donated equipment, and capital are recent examples of key elements provided by private-sector partners to help accelerate technology commercialization. In the past month, leaders from universities and nonprofit organizations across the country have announced new efforts to expand research capacity and bring more products to market by launching innovative centers in collaboration with corporate partners.
States, Universities Seek Support for Research Infrastructure
Whether to attract federal grants, keep up with demand to graduate more highly skilled students, or advance the capabilities for research and exploration, universities are pushing for state funding to invest in science buildings and other infrastructure needed to expand research capacity and improve competitiveness. In New Jersey, a measure to approve $750 million in higher education borrowing to build and renovate campus facilities will go to the voters in November.
NY proposes free college tuition; KY launches new program
Two states are looking to make college more affordable through state programs aimed at decreasing or eliminating tuition costs. The New York legislature will decide the fate of a new proposal for free tuition at its state universities for middle income earners there, while in Kentucky students may be eligible for financial aid through the Work Ready Kentucky Scholarship Program.
Higher Education in the New Economy
As state and federal funding for higher education dwindles and the workforce needs of the new economy continue to shift, state and university officials are reevaluating how higher education is funded, its return on investment for the state, and how universities can better drive economic growth. Recent examples in New York, Ohio and Texas demonstrate how states are implementing new policies to adapt to the changing times.
Tech Talkin' Govs: Part I
NY Governor Wants to Create Regional Councils, Consolidate NYSTAR
Gov. Andrew Cuomo announced plans to direct $200 million in existing funds to establish 10 regional economic development councils to allocate funds and provide business assistance programs across the state. At the same time, the governor would consolidate programs supporting high-tech companies currently administered by the New York State Foundation for Science, Technology and Innovation (NYSTAR) with the Empire State Development Corporation (ESDC) — a move he says will eliminate duplicative functions and save the state $1.9 million in the coming year.
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.
Incubator Round Up
Recent announcements of new and emerging technology incubators range from Google's selection of Cape Town, South Africa to launch a pilot incubator supporting technology entrepreneurs that it hopes to replicate globally to Alabama Gov. Robert Bentley's plan to create a statewide business incubator focusing on workforce training. Select announcements from across the globe are highlighted below.
NY, WI, IN Initiatives Address Region-Specific Barriers to Commercialization
Follow-on funding, access to technology, talent and resources all can be barriers to commercialization and successfully spinning off sustainable companies. Always seeking a quicker, more viable path to market for technologies and products, university-based programs and public-private partnerships try to tackle these hurdles, which often times are region-specific. Such is the case in Long Island, NY, where a recent partnership between a nonprofit organization and venture capital firm is working to address access to capital concerns.
NYC Announces $100M Biotech Venture Fund, Creation of Medical Technology Institute
New York City Deputy Mayor Robert Steel announced that it will establish a new $100 million venture fund for life sciences research according to Crain's New York. The city will invest an initial $10 million to establish the new biotech venture fund. The city already has an additional $40 million pledged from private-sector partners — Celgene, GE Ventures and Eli Lilly & Co. The city currently is seeking to partner with a venture-capital firm to manage the fund and invest at least $50 million to the fund.
SUNY Acquisition Demonstrates Prominent Role of Research Centers in Innovation Economy
Well-designed research centers can help bring an innovation ecosystem together through the spillover effects of knowledge dissemination, student learning experiences, local early access to new technologies, and by attracting R&D funding. In New York, Gov. Andrew Cuomo recently announced a $30 million initiative led by SUNY’s College of Nanoscale Science and Engineering (CNSE) to transform and revitalize a vacant building into a hub for smart cities technology companies, research, education and workforce training.
Foundations Commit Funding for Entrepreneurial Development Programs at Nonprofits, Universities
Foundations increasingly are tapping into the unique skills of institutions of higher education by partnering with them to support entrepreneurial growth within their surrounding communities. These foundations view institutions of higher education as the ideal partners to provide education and business services necessary for entrepreneurs to reach their potential. Several foundations recently have announced funding to support entrepreneurship development activities at universities including the Ratcliffe Foundation and the Allstate Foundation.
NY Budget Advances State’s Research, High-Tech Agenda
Many of the proposals put forth by Gov. Andrew Cuomo for growing New York’s innovation economy were fulfilled or received ongoing support in the enacted FY15 budget. This includes a final installment of $680 million to complete the Buffalo Billion initiative, new rounds of funding for the Regional Economic Development Councils, SUNY and CUNY challenge grants, and tax breaks for manufacturers. Lawmakers also approved funding for a new genomic medicine network and STEM scholarship program.
States of Innovation 2017: Free tuition moving into more state toolboxes
This week we continue our series on state legislation pertaining to the innovation economy that has been enacted this year around the country. This second installment of the States of Innovation 2017 series deals with free tuition.
This week we continue our series on state legislation pertaining to the innovation economy that has been enacted this year around the country. This second installment of the States of Innovation 2017 series deals with free tuition.
A number of states took action to increase the education and skills of their workforce by implementing free or greatly reduced tuition programs at either community colleges or state colleges. The move to increase access to higher education while not new, took up increased urgency this year. With Arkansas, Florida, Kentucky, New York, North Carolina, Rhode Island and Tennessee all taking action this past year, Maine and North Carolina were among others considering other options but as of today’s publication not moving the proposals forward.
States launching new tech commercialization programs to strengthen economies
Knowing that research universities are integral to the innovation in this country, states continue their efforts to build the economy by supporting efforts to move the research from the labs to the market.
Universities launch incubators, accelerators and funds in 2019
Universities frequently play an integral role in providing activities, research, and products that positively affect or support local, regional, state and national economic development or strategic goals. In higher-education’s efforts to align its participation in innovation and entrepreneurship systems, universities’ incubators, accelerators and fund programs are essential in assisting their faculty, staff, or students in the services and support needed to create startups, bring products to market, or provide critically needed funding.
Tech Talkin’ Govs: Part I
Now in its 14th year, SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene the 2014 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses. The first edition includes excerpts from speeches delivered in Idaho, Kentucky, New York, Virginia, and West Virginia.
NY Budget Proposes New Genomic Medicine Network, STEM Scholarship
The FY15 budget proposal outlined last week by Gov. Andrew Cuomo would provide funding to continue many of New York’s innovation-focused efforts while investing in new initiatives, including a genomic medicine network and STEM scholarship program.