SOURCE: State Science and Technology Institute

State Science and Technology Institute

November 08, 2011 13:30 ET

Six Organizations Win National Award for Improving Regional Economies Through Science, Technology and Innovation

COLUMBUS, OH--(Marketwire - Nov 8, 2011) - Six organizations were named winners of SSTI's 2011 Excellence in TBED award, serving as national models for states and regions investing in science, technology and innovation to grow their economies and create high-paying jobs. Among the winners, a newer program was selected as the first Most Promising TBED Initiative, recognized for a creative approach to growing industry clusters.

"The success stories from this year's winners characterize why support for tech-based initiatives is imperative for improving the national economy," said Dan Berglund, SSTI president and CEO. "The diversity in size and geography of these programs demonstrate that many different approaches can be taken with equally impressive outcomes."

Awards were presented today during SSTI's 15th Annual Conference in Columbus, OH, attended by local, regional and national leaders in economic development. The following initiatives were named 2011 recipients of SSTI's Excellence in TBED award:

Kentucky's Bucks for Brains Endowment Match Program - Expanding the Research Capacity Category
By leveraging public and private dollars, Bucks for Brains is expanding research capacity in a targeted way that is novel and useful for other states seeking to achieve similar outcomes. Over a 13-year period, the number of endowed chairs at Kentucky public universities increased from 56 to 252 and the number of endowed professorships increased from 53 to 354. Over that same period, extramural R&D expenditures generated by University of Kentucky and University of Louisville faculty and staff increased from $105.2 million to $364.8 million, a 247 percent increase.

ACTiVATE® - Commercializing Research Category
ACTiVATE® is a catalyst for economic and cultural transformation, helping mid-career women build businesses by leveraging their existing skill set to commercialize technology. Developed as a systematic model for training entrepreneurs and commercializing technology developed by universities and federal labs, the program has been expanded to more broadly focus on the underrepresentation of women in S&T fields by pairing them with promising technologies in order to grow new, high-growth businesses. Participants of the program have created more than 40 new companies, each raising on average $500,000 in seed capital.

CONNECT - Building Entrepreneurial Capacity Category
Over its 25-year history, CONNECT has created and continues to evolve a system to expand the entrepreneurial capacity of the San Diego region. Drawing on more than 1,500 volunteers, CONNECT assists researchers in validating commercialization potential, developing commercial strategies and providing entrepreneurial education to grow high-tech and life sciences companies. CONNECT has assisted in the formation and development of more than 3,000 companies, which have raised more than $10 billion in funding, and has been modeled in more than 50 regions worldwide.

BioEnterprise - Increasing Access to Capital Category
BioEnterprise is a Cleveland-based nonprofit business formation, recruitment and acceleration initiative focused on accelerating the growth of biomedical companies. Recognized for its transferable market-driven model, BioEnterpise demonstrates leadership in the financing community, having assisted more than 100 clients to attract more than $1.1 billion in growth capital from grant, seed, angel, venture, and debt sources. Since 2002, BioEnterprise has evaluated more than 1,400 biomedical opportunities resulting in more than 160 clients who receive counsel from seasoned, biomedical executives with startup and growth experience.

Center for Integrated Manufacturing Studies (CIMS) at Rochester Institute of Technology - Improving Competitiveness of Existing Industries Category
Established in 1992, CIMS has increased the competitiveness of manufacturers in Upstate New York by providing world-class research, technology development expertise, and laboratories that help companies market expansion, enhance productivity, speed innovation and product development, and train personnel. CIMS has been innovative in adapting its expertise and services to meet the evolving needs of manufacturers by focusing on the region's strongest industry clusters. Since 2002, the program has helped to create more than 1,581 jobs and retain 1,915 positions throughout the state.

NorTech Regional Innovation Cluster Model - Most Promising TBED Initiative Category
Through its grassroots approach to cluster development, NorTech's Regional Innovation Cluster Model puts theory into practice to overcome challenges and accelerate successful clusters to create jobs and attract capital. The impressive partnerships and model developed by NorTech are applicable for developing industry clusters across the nation that have a long-term positive economic impact. In just one year, cluster companies supported by NorTech have attracted $20.5 million in capital, created 171 jobs and generated $10.8 million in payroll.

"Each of these programs has adapted to changing needs and are capitalizing on emerging opportunities," Berglund said. "We encourage all of those involved in improving the nation's competitiveness to seek out the best practices of our current and past award winners."

Now in its fifth year of the awards program, SSTI has recognized 26 initiatives for their successful efforts to support the creation and growth of technology companies.

About SSTI
The State Science and Technology Institute is a national nonprofit organization that leads, supports and strengthens efforts to improve state and regional economies through science, technology and innovation.

Contact Information

  • Contact:
    Rhiannon Skipper
    State Science and Technology Institute
    Phone: 614.901.1690
    Cell: 614.657.8109