Innovations in Technology-based Economic Development in 2013

The State Science and Technology Institute has a new report about major technology-based economic development initiatives in 2013.  Here are a few of the highlights:

Examples include Connecticut’s 10-year, $2 billion Next Generation Connecticut Plan to expand funding for science and technology education on the campuses of the University of Connecticut and a $200 million fund to spur biosciences R&D. Pennsylvania’s General Assembly approved a plan to auction $100 million in tax credits to generate state revenue that will be invested in the funding of tech and biotech start-ups. Lawmakers in Indiana dedicated $25 million to establish a biosciences institute with the expectation of building an endowment up to $400 million over the next five to seven years drawn from corporate and philanthropic sources.
At the same time, New York and Wisconsin legislators appropriated significant funds for capital-based initiatives. Included in New York’s FY14 budget is $50 million for a venture capital fund to provide seed and early stage funding for new company formation and to help commercialize new technologies and products. In Wisconsin, lawmakers passed legislation to create a $75 million early stage seed capital fund-of-funds to support high-growth sectors with $25 million from the state and the remaining funds coming from private sources.

You can download the SSTI report as an Adobe Acrobat file here.

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