Price Waterhouse recently announced that venture capital investments hit an all time record in the third quarter of 1997. Total investments exceeded $3.5 billion, eclipsing the previous high of $3.2 billion reported in the second quarter of 1997. Compared to the third quarter of 1996, investments increased 75%, the largest percentage increase measured by the survey.

Research and development expenditures in 1997 are expected to reach $205.7 billion, a 6.5 percent increase over 1996's $193.2 billion in spending. Since 1994, R&D spending has been increasing at a rate of more than 5 percent a year, according to a recent National Science Foundation Data Brief.

The National Science and Technology Council (NSTC) report, Transportation Science and Technology Strategy, has been released. The Strategy was written to aid Congress, the White House, and federal Agencies in establishing national transportation R&D priorities and coordinating research activities. The report highlights ongoing federal research efforts in transportation science and technology and identifies areas of new opportunity and gaps for federal support.

The State Science and Technology Institute (SSTI) recently released State Science and Technology Strategic Planning: Creating Economic Opportunity. This report is the first comprehensive study of state science and technology strategic planning processes.

The National Business Incubation Association (NBIA) has released a new report that confirms that business incubators are helping to build healthy, long lasting businesses, and they are doing it at minimal cost with a good return on investment to supporters.

Raymond Kammer was sworn in as eleventh director of the National Institute of Standards and Technology (NIST) on November 12. Kammer had been NIST's deputy director since 1993. Robert Hebner had been acting director of the agency since the position was vacated by Arati Prabhakar in March.

A new industry association, the Small Business Technology Coalition (SBTC), has been organized to represent the interests of small, high technology firms in Washington, D.C. and in individual states. Since its creation, SBTCs membership has grown to 300, with members from 30 different states.

Former Ohio Governor Richard F. Celeste was sworn in as the United States Ambassador to India last week. Celeste has been a leader in the field of technology-based economic development for the last 15 years. While governor, Celeste established Ohio's Thomas Edison Program.

The House Committee on Science has begun a year-long study of the nation's science and technology policy in order to determine funding priorities for federal support of research. The study will be the first attempt by the House to systematically assess the nation's research and development needs since the end of the Cold War.

The General Accounting Office (GAO) recently testified before a Congressional committee on the changing missions of the Department of Energy (DOE) national laboratories and perceived weaknesses in the management of the labs. According to GAO, DOE's efforts to meet the requirements of Government Performance and Results Act (GPRA) offer an opportunity to achieve fundamental change in the way in which the department manages the national labs.

The National Science Foundation's (NSF) Office of Science and Technology Infrastructure (OSTI) has announced that funds will be available for additional Science and Technology Centers (STC). NSF is currently soliciting proposals from qualified candidates for the Science and Technology Centers: Integrative Partnerships Program.

Sixty young researchers have been selected for the second annual Presidential Early Career Awards for Scientists and Engineers, the highest honor bestowed by the United States government on outstanding scientists and engineers beginning their careers.

The awards recognize young scholars, their research contributions, their promise, and their commitment to broader societal goals.

The National Institute of Standards and Technology's Advanced Technology Program (ATP) is having a significant impact in accelerating the pace of technology development, according to a new study of 28 early ATP award winners.

A coalition of science, engineering, and mathematics organizations endorsed a statement calling for a doubling of research funding over the next ten years. In total, 106 organizations offered their support of a "Unified Statement on Research" at a Capitol Hill Press Conference on October 22.

The Massachusetts Technology Collaborative (MTC) has released a new study entitled Index of the Massachusetts Innovation Economy. This assessment of the Massachusetts economy provides data on 33 quantitative indicators.

Two manufacturers - one for a second time - and two service firms have received the Malcolm Baldrige National Quality Award for their achievements in quality and business performance. The 1997 awards, announced by the Department of Commerce on October 15, went to 3M Dental Products Division, St. Paul, MN (manufacturing); Solectron Corp., Milpitas, CA (manufacturing); Merrill Lynch Credit Corp., Jacksonville, FL (service); and Xerox Business Services, Rochester, NY (service). Solectron Corp.

The Semiconductor Industry Association (SIA), in cooperation with members of the semiconductor industry and the U.S. Department of Defense, is launching a new initiative to expand certain long range applied microelectronics research at U.S. universities.

This planned new initiative, the Focus Center Research Program, is being structured to utilize long range innovative applied research to meet industry needs. The envisioned Centers will:

The National Science Foundation (NSF) has selected three centers to conduct and coordinate earthquake engineering research for the nation. The contracts call for NSF to invest $2 million a year for five years in each of the three centers for a total of $30 million.

October 29, 1997

The American Society of Mechanical Engineers will sponsor Accessing Technology in Rhode Island.  The briefing will provide information on state and federal technology resources available to assist businesses. For more information contact Reese Meisinger at 202/785-3756 or meisingerr@asme.org

October 29 - 30, 1997

Job growth in information technology (IT) now exceeds the production of talent, according to a U.S. Department of Commerce's Office of Technology Policy (OTP) study, America's New Deficit: The Shortage of Information Technology Workers. A recent survey of mid- and large-size U.S. companies by the Information Technology Association of American (ITAA) concluded that there are about 190,000 unfilled IT jobs in the U.S. today due to a shortage of qualified workers.

The U.S. Small Business Administration (SBA) has announced this year's Tibbetts Award winners. The 68 winners represent individuals and organizations that were judged to be models of excellence in technology through participation in or support for the SBIR program.

The proceedings of the Technology Transfer Metrics Summit is now available from the Technology Transfer Society. The book is based on the first working conference on measurement and evaluation for the technology transfer community, co-sponsored by the Engineering Foundation and the Technology Transfer Society.

Eight industry and economic development leaders have been appointed to serve on the newly created Manufacturing Extension Partnership National Advisory Board. Meeting three times a year, the board will provide advice on MEP programs, plans and policies. The board will summarize its findings and recommendations to the Secretary of Commerce in an annual report.

The board members are:

The Delaware Economic Development Office recently announced the selection of two new Advanced Technology Centers (ATC). The Centers will focus on semiconductors and advanced optics.

The Centers are public/private partnerships designed to bolster Delaware's technology base and to create and retain quality high-tech jobs. The State of Delaware is investing $4 million over three years in these two Centers through grants from the 21st Century Fund.

The Commerce Department's National Institute of Standards and Technology is requesting comments on proposed revisions to the agency's Advanced Technology Program regulations.