NIH just launched the funding opportunity announcement for the third cohort of its regional biomedical proof-of-concept and accelerator program, the Research Evaluation and Commercialization Hubs. On Dec.

Over the past four fiscal years, there have been 1,977 initial public offerings (IPOs) completed by companies headquartered in the U.S., according to PitchBook, yielding more than $549 billion in capital invested. These companies are located in 45 states, D.C., and Puerto Rico. Almost 20% of those companies are no longer publicly held, having been returned to private ownership, been acquired, merged or gone out of business.

Thirty-six states held gubernatorial contests in Tuesday’s (Nov. 8) mid-term elections. By the end of the night and as of this writing Thursday morning, winners in 32 states had been chosen, with votes still being tallied in Alaska, Arizona, Nevada, and Oregon.

Voters across the country faced a number of ballot measures in Tuesday’s election that could in turn affect the innovation economy in their states. Bond issues affecting higher education were approved in New Mexico and Rhode Island, while the vote is still being counted in Arizona, which considered a measure that would allow more aid for non-citizens of the state pursuing higher education.

As of Thursday morning, party control of both chambers of Congress is undetermined, as final outcomes remain unknown for 44 House seats and three Senate seats (per the AP). Chamber control may drive the size of the next few federal budgets — affecting opportunities for additional science and innovation funding — and determines who will be chair versus ranking member of committees.

Going into Tuesday’s 2022 mid-term elections, less electoral shakeup in state legislatures was expected after states’ redistricting efforts shored up many safe seats for incumbents — with the one notable exception being Michigan, thanks to an independent commission that had drawn a competitive map that put both legislative chambers in play.

This edition of Useful Stats takes a high-level look at the United States’ change in Real Gross Domestic Product (RGDP, which is GDP adjusted for inflation) on a per capita basis for each of its counties, boroughs, parishes, etc. (hereon referred to as “counties”). Looking at RGDP per capita allows for an inflation adjusted, population standardized metric for comparing counties over time.

The U.S. Department of State established a new office intended to develop and coordinate critical and emerging technology foreign policy, including biotechnology, advanced computing, artificial intelligence, and quantum information technologies.  The Office of the Special Envoy for Critical and Emerging Technology began operations Jan. 3. The office will offer policy expertise in technology, diplomatic leadership, and strategic direction for the department.

The U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund released a file and map summarizing core economic data for each census tract. Policymakers and practitioners should be aware of these changes for both what the data reveal about local economic trends and the impact the changes could have on future program eligibility.

Total deal counts across angel, seed and VC deals for Q4 2022 were the lowest of the year at 2,935 deals, a decrease of 670 deals as compared to Q3 2022, according to Q4 data from PitchBook-NVCA Venture Monitor Q4 2022. Despite low deal counts for Q4, 2022 is still on track to come in close behind 2021, which marked the highest deal count since the data began being collected in 2012.

Seeking fundamental changes in access to and equity in science, technology, engineering, math and medicine (STEMM) education, the White House Office of Science and Technology Policy (OSTP) and participants from across sectors met and sought ways to ensure the STEMM ecosystem is equitable and inclusive.

The U.S. Department of Commerce recently launched the Capital Readiness Program grant competition, which will provide $93.5 million to help minority and other underserved entrepreneurs grow and scale their businesses and be administered by the Minority Business Development Agency.

With the Dec. 20 release of two Requests for Information (RFIs), the White House Office of Science and Technology Policy seeks public input to help guide the development and deployment of the National Biotechnology and Biomanufacturing Initiative, which is intended to use the two disciplines to advance innovative solutions in health, climate change, energy, food security, agriculture, and supply chain resilience.

Thirty-three states have been approved for at least one equity program through the State Small Business Credit Initiative (SSBCI) as of December 2022. The states are: Alaska, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Vermont, Virginia, West Virginia.

SSTI has written a response to the U.S. Small Business Administration’s (SBA) proposed revisions to the Small Business Investment Company (SBIC) program, which aim to increase program participation.

President Joe Biden has signed the Inflation Reduction Act, a $740-billion bill that largely focuses on clean energy and climate resiliency, deficit reduction and health care, funded through tax changes.

The recently-passed CHIPS and Science Act included $54.2 billion in appropriations, largely for semiconductor manufacturing incentives ($39 billion) and R&D ($11 billion). The administration is releasing information about its planned distribution of funds. Recent resources include: a strategic plan from the U.S.

A recent announcement from the White House Office of Science and Technology Policy (OSTP) included major updates requiring open access to federally funded research. The new guidance will require federal agencies to ensure that all taxpayer-funded research is immediately available to the public, disallowing the previous optional 12-month embargos.

Pennsylvania is losing ground in expanding manufacturing opportunities in the state, according to the Pennsylvania Manufacturing Advisory Council, which has issued a playbook to help build the sector’s competitiveness and highlights recommendations for the state to increase its manufacturing opportunities. 

The nonprofit research institute, RTI International, has been named the grant winner to coordinate and lead a Community of Practice (CoP) for the Build Back Better Regional Challenge’s 60 finalist coalitions. While the 21 awardees of the challenge will go on to build out their proposed programs, the CoP is intended to build long-term connections among all 60 coalition finalists, which were awarded from 529 applications.

In what is being heralded as one of the most impactful regional economic development initiatives in decades, 21 coalition winners — including three SSTI members as coalition leads — of the $1 billion Build Back Better Regional Challenge have been announced. Each of the awardees will receive between $25 million and $65 million to fund 123 projects designed to advance economies across 24 states.

With President Biden’s signing the CHIPS and Science Act on Aug. 9, states and universities are already making plans to build on the funding opportunities present in the legislation.

An inaugural report looking at the landscape of capital resources in Arkansas may be useful to others who are interested in examining the capital access in their state or region. The report will serve as a baseline for trends in public, private and philanthropic investments in entrepreneurship across the state and may be a useful resource as the state plans its State Small Business Credit Initiative strategy.

In a move designed to strengthen southwest Pennsylvania’s role in life sciences research, the University of Pittsburgh and Richard King Mellon Foundation last month announced a $100 million gift to help fund a bioresearch and development facility.

Private sector investment into research and development (R&D) is a critical component of innovation, new product development, and regional economic vitality. As a substantial performer and funder of R&D in the United States, the strength of private industry’s R&D activity in a region can provide an indication of the region’s capacity for developing and bringing innovative technologies to market.