As Wall Street waited for the Dow to top 10,000, venture capital investments were also reaching a new high, according to the latest PricewaterhouseCoopers Money Tree Survey. Venture-backed investments rose to a record $4.286 billion during the first quarter of 1999, a 41 percent increase over the first quarter of 1998. The survey's previous record of $3.77 billion was set during the third quarter of last year.

Washington's technology boom hasn't been enjoyed equally by most communities outside of the Seattle or Spokane urban areas. Two laws recently passed by the Washington legislature are intended to provide tax credits, infrastructure financing, and other incentives to spread the economic benefits of technology into the state's most rural counties.

The Department of Energy has announced 16 awards under the 1999 solicitation for the Small Business Technology Transfer (STTR) Program. The following table presents states with companies and academic institutions or federal labs selected in the competition. Only five of the awards were made to projects in which the company and university are located in the same state.

Virginia's Center for Innovative Technology is seeking a new President and Chief Executive Officer. The CIT president's primary responsibility will be to assist the Secretary of Technology in implementing the Commonwealth's technology strategy by developing and directing CIT's key role in the strategy. Applications are due by June 22, 1999.

The Environmental Protection Agency and the National Science Foundation have announced approximately $5 million will be awarded in FY 2000 for grants to support research toward "Technology for a Sustainable Environment."

Entities eligible to submit proposals include universities and not-for-profit institutions. The agencies anticipate making 20 grant awards for the solicitation in January 2000. Proposals are due July 26, 1999.

Delaware increased its commitment to technology businesses recently with two new initiatives: the creation of the Delaware Biotechnology Institute and the passage of a state research and development tax credit.

Delaware Biotechnology Institute

The U.S. Departments of Agriculture and Commerce have announced their selections for the 1999 Small Business Innovation Research Program Phase I competition. The following table provides the statistics by state for both agencies. Lists of the winning firms and award information may be found on the agencies' SBIR websites at the following:

702 Vie for TIIAP Funds

Update to SSTI Weekly Digest 1/22/99 article:

The new Michigan Economic Development Corporation has released its strategic plan to increase the growth of technology-related jobs in the state. The report, State Smart: Michigan, outlines more than $6 million in new initiatives and several tax incentives to encourage technology-based growth in three key industry sectors: life sciences, information technology and advanced manufacturing.

The plan's initiatives are divided among three categories:

Last week, in contrast to the mid-April House and Senate approval of a budget resolution that is projected to result in a double digit decline in federal R&D spending by 2004, the Senate Committee on Commerce, Science and Transportation approved the Federal Research Investment Act, which would double federal basic research funding over an eleven-year period. S. 296 establishes a long-term plan for federal funding of fundamental, scientific, and pre-competitive engineering.

Cheryl Lyman, policy analyst with the State Science and Technology Institute, will be leaving SSTI today to accept a position with the Ohio Department of Commerce as its fiscal officer. Cheryl has worked with SSTI since its opening in 1996. We wish her well in her new position!

Cheryl Lyman, policy analyst with the State Science and Technology Institute, will be leaving SSTI today to accept a position with the Ohio Department of Commerce as its fiscal officer. Cheryl has worked with SSTI since its opening in 1996. We wish her well in her new position!

Robert Templin, president of Virginia's Center for Innovative Technology (CIT), has resigned. Wolfgang Tolle, managing director, has been named acting president. Patsy Brown, CIT's director of public affairs, also has left CIT.

Steve Jarvis resigned as the director of California Trade and Commerce's Office of Strategic Technology. Jeff Newman has been named as acting director.

Marty Grueber has left the Rhode Island Economic Policy Council (RIEPC) to join Battelle Memorial Institute and the Environmental Technology Commercialization Center. Beth Ashman Collins has been named director of research at RIEPC.

John Dougherty resigned his position with the Illinois Coalition to accept a job in the private sector.

Kate Latta Hoffher, senior public affairs specialist with the National Science Foundation's Office of Legislative and Public Affairs, is on detail to NSF's Experimental Program to Stimulate Competitive Research (EPSCoR) until the end of July.

Terri Adams is serving as Chief of the Science, Technology and Energy Division of the Alabama Department of Economic and Community Affairs. Martha McInnis resigned from ADECA in January.

U.S. dominance as a source of technology for other economies is in serious trouble, according to "R&D Trends in the U.S. Economy: Strategies and Policy Implications," a new report by Gregory Tassey, senior economist with the Strategic Planning and Economic Analysis Group of the National Institute of Standards & Technology (NIST).

An interagency task force of the National Science and Technology Council (NSTC) has released its findings on the state of the science and technology partnership between the federal government and universities.

The United States Innovation Partnership (USIP) reported on a recent roundtable discussion on the 21st Century Economy. The topic of the discussion was the role of states in science and technology. The roundtable highlighted "best practices" in technology-based economic development in five states (Oklahoma, Kansas, Indiana, Utah, and Pennsylvania).

States and regions across the U.S. are continuing to make significant investments and implement policies to capitalize on the growing biosciences sector. However, a challenge they face in coming years is a leveling off of federal bioscience R&D dollars, concludes a recent report prepared by Battelle, SSTI and PMP Consulting.

Despite all the press generated each time a state commits multimillion portions of its tobacco settlement distribution toward R&D and technology-based economic development (TBED), readers may be surprised to learn economic development activities captured only 4 percent of the total payments in 2005, according to a new report from the Government Accountability Office (GAO).

For the 12th consecutive year, the University of California tops all universities for the most patents for inventions, according to a list recently released by the U.S Patent and Trademark Office. The preliminary list reveals the top 13 U.S. universities receiving the most utility patents during calendar year 2005. All campuses are included in each school's total.

Increasingly states are making it easier for high school students to participate in college courses while still attending high school. The goal of dual enrollment is to encourage more students to attend college, giving them a leg up on a degree. A new report by the Kentucky Council on Postsecondary Education suggests the efforts are not working in Kentucky.