The National Science Foundation (NSF) announced that it would commit up to $12.5 million in pilot grants to test novel ways of broadening participation in science, technology, engineering, and mathematics (STEM).

Over the last month, several universities have announced new initiatives that look to spur investments in university-related startups to support economic growth and prosperity within their region or state. These include efforts in Triangle Venture Alliance in North Carolina, Purdue Ventures in Indiana, and a partnership between Oregon State University and a local investment fund.

North Carolina

This week, the White House announced the ConnectAll Initiative, an effort to reform federal communications programs to focus on bringing more Americans online. The focus of this effort will be on lower-income families who often lack access to affordable service and the devices to make use of them. Under the proposed plan, low-income families could be eligible for a monthly broadband subsidy.

A computer science education is viewed as a valuable prerequisite for many technology jobs, and, as a result, policymakers are responding to make these programs more ubiquitous. In January, the Obama administration announced his $4 billion Computer Science For All proposal, a nationwide effort to help all students from kindergarten through high school learn computer science.

Alberta’s provincial government has announced a significant shift in its approach to economic development, moving from a program it had created just last fall to provide $5,000 for each new job created to a broader range of initiatives supporting business incubators, investor tax credits, and industrial diversification.

The National Science Foundation tells of a record number of doctorates awarded at the same time the American Association of University Professors (AAUP) reports opportunities to secure tenure-track positions continue to shrink, the State Higher Education Executive Officers Association points out state support for higher education remain

The Internet of Things (IoT) is all the rage within the information and telecommunications sector and has both applications and implications for every aspect of your life.

In the last month, major new developments have occurred in TBED capital programs. Launch Tennessee and Pittsburgh-based Innovation Works both announced positive findings about the growth of their startup investment ecosystems with $1 billion being raised by Tennessee startups from 2012 to early 2016 and over $279 million invested in Pittsburgh startups in 2015. Meanwhile in Ohio, both Youngstown-based and Cincy-based startups will see an influx of capital, while a new $150 million fund focused on stem cell companies and regions has been launched.

To build 21^st century workforces in key S&T sectors, several new public-private initiatives have been launched in South Carolina, New Jersey, Utah, and Montana. These initiatives are intended to better align the educational training of students with the needs of industries that each respective state has identified as a key industry cluster. Target industries include advanced manufacturing, aerospace, biotechnology, chemistry and plastics, and cyber security.

South Carolina

Virginia Gov. Terry McAuliffe announced the creation of a pay-for-performance workforce training program that will help Virginia workers acquire the industry certifications and occupational licenses that meet the needs of key businesses in each region of the state.

The U.S. Department of Energy (DOE) Office of Energy Efficiency and Renewable Energy (EERE) recently released the first round of 33 awardees from the Small Business Vouchers Pilot program.  A total of $6.7 million will be awarded in the form of vouchers for assistance from DOE national laboratories of up to $300,000 a piece. Small cleantech businesses may be able to apply in nine technical categories. A second round of awards also has been announced, with a third to follow later in the year.

Angel investors are an essential component of the global economy, supporting ideas and innovators at their very earliest stages. In 2014, more than 200,000 American angels invested about $24 billion in 73,000 startups, according to the Angel Capital Association (ACA). Little data, however, exists on who these investors are and how they make their decisions. ACA, Wharton Entrepreneurship and the John Huston Fund for Angel Professionalism at Rev1 Ventures are launching a nationwide survey of angel investors to learn more.

The Indiana Biosciences Research Institute (IBRI), first unveiled in May 2013, is a statewide public-private partnership advanced by BioCrossroads that considers itself the first industry-led collaborative life sciences research institute in the country.

Several recent studies have identified the roadblocks that females face in Science, Technology, Engineering and Mathematics (STEM) fields. These two roadblocks include gender bias in the classroom and too few mentors in K-16 STEM fields. In an attempt to increase opportunities for females in STEM education, both federal and foundation funders have announced programs that will increase scholarship and internship opportunities for young women in STEM fields.

To celebrate the one year anniversary of the TechHire Initiative, the Obama administration announced an expansion of the program with the addition of 15 new communities. The administration also announced activities and commitments to help support career and technical education. 

Florida Higher Education – Is the Cheapest Fiscally Sound? provides evidence for the connection between state funding for universities and productivity. Florida Research Consortium and Florida Chamber Foundation combine a variety of data to advance three connections: 1) state funding for universities is exponentially related to total funding for universities; 2) total funding for universities is related to research quality; and 3) research quality is related to productivity within Metropolitan Statistical Areas.

Although the U.S. National Institutes of Health may face decreased funding under the new presidential administration, recently published research in Science argues that public investments in biomedical research play an important role in driving private sector R&D. In an analysis of 365,380 grants awarded by the U.S.

On March 28, the Appalachian Regional Commission (ARC) announced nearly $2.5 million in grants to expand and diversify the economy in coal-impacted communities across multiple states. With this latest announcement, ARC has now invested $75.5 million (leveraging an additional $142 million in investments) to diversify the economy in 236 coal-impacted counties across nine Appalachian states through the Partnerships for Opportunity and Workforce and Economic Revitalization (POWER) Initiative. The new round of investments are intended to create and retain hundreds of jobs in advanced manufacturing and agriculture; build a workforce pipeline through the region’s community colleges; and, identify additional economic opportunities for economic growth.

To recruit more STEM students to teach in their field after graduation, pay them more money says a study by the American Physical Society (APS). Recognizing that innovation relies heavily on STEM initiatives and an educated workforce, the APS in collaboration with the American Chemical Society, Computing Research Association, and Mathematics Teacher Education Partnership set out to learn what discourages students in STEM from eventually teaching the subjects. Although STEM students who responded to a survey indicated they may be interested in the teaching profession, their misconceptions about salary and other factors seem to be keeping them out of teaching.

Ohio Gov. John Kasich is one of the last governors to deliver a state of the state address, which he did Tuesday evening. The former presidential contender assured the audience that he is “not running for anything,” but wanted to thank those who worked on managing the state budget. He used the address to focus on a variety of topics, including tech and innovation initiatives in the state, and educational efforts to support those industries. Kasich did not read a prepared speech and the following comments were taken from a transcript of his address:

Billion dollar acquisitions and IPOs of young startups capture a lot of media attention, but they are not the norm for the market by any means. Exits do not need to be measured in the billions of dollars to have significant economic development benefit for the states and regions that make sustained investments into startup innovation firms. An SSTI analysis of the Pitchbook and Crunchbase investment databases reveals a number of recent exits by venture development organizations (VDOs) that may provide funding to re-invest in even more innovation-based startups in their regions. Our analysis reveals that many of the acquired companies appear to be maintaining their local operations as they use the acquisition funds to scale. Several examples from the past quarter alone demonstrate the value of the VDO approach to supporting regional prosperity.

The number of companies receiving venture capital investments during the first quarter of 2017 dropped 24 percent compared to a year ago, according to the latest NVCA-Pitchbook Venture Capital Monitor, released Tuesday.  Venture capitalists also parted with 12 percent less money during the quarter, suggesting to the report’s authors that 2017 is on pace to compare to 2013 levels.

SSTI is pleased to announce the call for applications for the 2017 SSTI Creating a Better Future Awards program. The new title of the program is intended to better reflect the ever-changing field of tech-based economic development and celebrate exceptional initiatives that create a better future through science, technology, innovation and entrepreneurship.

As a recipient of a Creating a Better Future Award, your initiative represents a standard of excellence that has been recognized by your peers through a competitive selection process.

Much has been written – both here and elsewhere – about the role of trade and automation in declining U.S. manufacturing employment. Recently released preliminary research published by the U.S. Census Bureau’s Center for Economic Studies finds U.S. multinationals were responsible for a disproportionate share of manufacturing employment declines from 1993 to 2011. These results underscore the challenges facing economic development in deindustrializing regions, particularly those reliant on the branch plant economy.

The Ohio Third Frontier Commission (Third Frontier) has announced investments in entrepreneurial service providers (ESP’s) in the Dayton and Toledo regions. A new collaboration focused on health innovation will lead the initiative in Toledo, while an existing entrepreneurial center will lead programming in Dayton. Both regions had been among Ohio’s largest without a dedicated ESP. The state also awarded funds for its first joint-university program at Cleveland State University and Kent State University, and for commercialization activities at Cincinnati Children’s Hospital.