YES is an undergraduate, student-run, nonprofit corporation promoting entrepreneurship and innovation among students and mentoring between students and business leaders. It holds an annual business plan competition and a summer internship program.
WASHINGTON, D.C., Feb. 23, 2010 – Intel President and CEO Paul Otellini today announced a $3.5 billion initiative to support investment in U.S.-based growth-oriented industries and detailed a commitment to significantly increase jobs available this year for recent college graduates.
Otellini announced these initiatives in a speech titled "Rebuilding the Foundations of American Growth," delivered at The Brookings Institution in Washington, D.C.
The Invest in America Alliance, led by Intel and supported by many leading venture capital firms and corporations, aims to further anchor the nation's competitiveness on the global stage. It serves as the private sector's complement to existing state and federal job creation programs through long-term investment in industries and talent poised to produce the next breakthroughs in technology innovation.
The Alliance is a two-pronged effort. The first includes a commitment from Intel Capital, Intel Corporation's global investment organization, and 24 leading venture capital firms to invest $3.5 billion in U.S.-based technology companies over the next 2 years. These investments, which include a new, $200 million Intel Capital Invest in America Technology Fund, will target key innovation and growth segments such as clean technology, information technology and biotechnology. Joining Intel in this effort is Advanced Technology Ventures, Braemar Energy Ventures, Bridgescale Partners, Canaan Partners, DCM, Draper Fisher Jurvetson, Flywheel Ventures, Good Energies, Institutional Venture Partners, Investcorp Technology Partners, Khosla Ventures, Kleiner Perkins Caufield & Byers, Menlo Ventures, Mohr Davidow Ventures, New Enterprise Associates, North Bridge Venture Partners, QuestMark Partners, Sevin Rosen Funds, Storm Ventures, Telesoft Partners, Updata Partners, U.S. Venture Partners, Venrock and Walden International.
Second, the Invest in America Alliance also includes commitments from 17 technology and other corporate leaders to increase their hiring of college graduates, some by as much as two times, to create the products and provide the services of tomorrow. Companies joining Intel in this pledge are Accenture, Adobe Systems Incorporated, Autodesk, Broadcom Corporation, CDW LLC., Cisco, Dell, eBay, Inc., EMC Corporation, GE, Google, Inc., HP, Liberty Mutual Group, Marvell Semiconductor Inc., Microsoft Corporation, and Yahoo!.
"Strong, enduring economies grow out of a culture of investment and a commitment to innovation," Otellini said. "We simply must have a clear, consistent strategy to promote innovation, investment and start-up companies. There are things business can do, and ought to do, independent of what government achieves.
"It would be a long-term mistake to let our future scientists and engineers sit idle after graduation. Today's announcements are both an investment in the country's innovators and a signal to the global marketplace about America's commitment to innovation and future competitiveness."
Other venture capital firms and corporations are expected to join the Invest in America Alliance with investment funds or hiring goals in the coming weeks and months.
Today's announcement follows Intel's commitment last year to invest $7 billion to upgrade its U.S. manufacturing facilities that are now producing the most advanced semiconductor technology in the world. This investment also supported 7,000 high-wage, high-tech manufacturing American jobs and more than 4,000 contract jobs for technicians and construction workers in Arizona, New Mexico and Oregon.
Venture Capital Investment
Clean technology, information technology and biotechnology are vital segments of the emerging U.S. economy and important for global competitiveness. The $3.5 billion commitment from Intel Capital and leading venture capital firms will help create jobs in current market segments and also in newer industries such as molecular diagnostics, bioinformatics, electric vehicle ecosystem and wireless infrastructure.
"Venture capital investments have played an important role in creating jobs at home and keeping America at the leading edge of technology globally," said Arvind Sodhani, president of Intel Capital and Intel executive vice president. "With $3.5 billion of equity capital to invest in the most promising new ventures in the country, our collective goal is to continue to drive technology innovation and stimulate economic activity."
As part of the overall commitment, Intel Capital announced today the $200 million Intel Capital Invest in America Technology Fund. Over the past two decades, Intel Capital has made over 1,350 investments in U.S. businesses, totaling more than $6.2 billion. In 2008, venture-backed companies provided over 12 million U.S. jobs (11 percent of private sector employment in the United States).1
College Graduate Hiring
Of the companies joining Intel in a commitment to significantly increase hiring of college graduates in 2010, many will be doubling graduate hiring over 2009 levels. In total, this represents 10,500 jobs for graduates to be hired for a range of positions. While the new jobs will largely be for those with engineering and computer science backgrounds, positions available also include financial analysis, marketing, management consulting, sales and other business skills in the majority of states across America. The hiring at these companies extends beyond those now graduating. For example, Intel's overall hiring plan for the year includes graduates and other experienced hires.
"Many more college graduates will now be able to put their education to work thanks to these 17 companies. We hope this is just a start and welcome companies across all industries to join this open effort," said Richard Taylor, vice president and director of Human Resources for Intel. "Many college graduates have been among the hardest hit by the economic downturn and providing them a place in the economy today is the best way to ensure America's innovation and competitiveness tomorrow."
For these and other positions available at Intel, see Intel.com/jobs.
Start-ups seeking funding can find contact information on the Intel Capital website http://www.intel.com/capital
A transcript of Otellini's speech, along with additional detail concerning the Invest in America Alliance, are available at www.intel.com/pressroom/kits/InvestinAmerica.
Students from across the globe will add, subtract, and multiply to gold-medal glory. The 48-hour event is open to anyone ages 5 to 18. Students play opponents from around the globe in real time. World Math Day answers the age-old question: How do we get kids excited about math? Setting a world record with math games for kids certainly helps! Teachers, parents, and media also are invited to participate for the first time.
Can we beat last year’s world record of almost 2 million students from 204 countries correctly answering 452,681,681 questions? Learn more about World Math Day.
Gov. Jodi Rell last week unveiled her FY11 midterm budget adjustments, eliminating or reducing funding for several TBED initiatives in the second year of the biennium. At the same time, the governor proposed an economic recovery package that includes a lending program for small businesses, a student loan forgiveness program to retain green collar workers, and a sales tax exemption for green energy industries.
The governor's proposal includes the following eliminations and reductions in the second year of the biennium within the Department of Economic and Community Development (DCED):
In total, the adjustments decrease funding for DECD by $4.1 million in the coming year.
Within the Office of Workforce Competitiveness, the governor recommends a $60,000 reduction for the Nanotechnology Study and a $37,500 reduction for SBIR matching grants.
The governor's budget proposal also outlines an economic recovery package that targets renewable and clean energy industries for job growth and provides access to capital for businesses.
To open access to credit for small businesses, the governor is proposing a $500 million public-private loan pool, which would be established using $100 million in bond funds. Two funds would be created: one for businesses with 250 or fewer employees and the other for businesses with 100 or fewer employees.
The $6 million student loan forgiveness program proposed by Gov. Rell would apply to recent college graduates in renewable energy, manufacturing, R&D, life sciences, and information technology fields who spend at least five years working in the state. Individuals receiving a Bachelor's degree would be eligible for up to $10,000 and those earning an Associate's degree could receive up to $5,000. The program would be operated by the Department of Higher Education.
Finally, to encourage research and production of equipment used in the renewable energy and clean technology industries, the governor proposed a sales tax exemption that would apply specifically to technologies to produce, improve or develop solar power, passive or active solar water or space heating systems, geothermal systems, and wind power.
Gov. Rell issued five rounds of rescissions and proposed four separate deficit mitigation packages during FY09. The General Assembly adopted four mitigation packages totaling $481.7 million, leaving a FY09 deficit in the General Fund of $948 million. The governor's proposed modifications to the adopted 2009-11 biennial budget would result in an all funds budget for FY11 of $18.9 billion, a decrease of $27.7 million.
The FY11 Midterm Budget Adjustments are available at: http://www.ct.gov/opm/lib/opm/budget/2010_2011_midterm_budget/budgetdocuments/201011govmidtermadjustmentsentirebook.pdf
Approved for redistribution and derivative works by State Science & Technology Institute, Westerville, OH
Connecticut Democrats divulge the findings of their roundtable on job growth at a press conference in Hartford on February 2nd.
The Majority Leaders' Job Growth Roundtable consisted of legislators, academics, and members of the business community and was led by Majority Leader Denise Merrill and Senate Majority Leader Martin Looney. The group has released a report containing recommendations including tax credits, green job investments, energy efficiency and leveraging private capital that will be turned into legislation for the upcoming session.
Watch a video clip, Matthew Nemerson speaks at Maj. Leaders' Job Growth Roundtable presentation of findings, 2/2/2010:
The key recommendations: (details can be found in the full report at www.housedems.ct.gov/jobgrowth/)
Other related links:
House Demorats, announcement: Agenda for Job Creation and Prosperity
MAJORITY LEADERS’ JOBS GROUP ANNOUNCES PLAN TO JUMP-START JOB CREATION AND POSITION CONNECTICUT’S ECONOMY FOR LONG-TERM GROWTH Among Group’s Recommendations: Realignment of Tax Credits, Investment in Green Jobs and Energy Efficiency, Smarter Government, and Leveraging Private Capital for Entrepreneurs
The Connecticut Center for Advanced Technology, Inc. (CCAT) has been awarded a two year implementation grant from Workforce Solutions Collaborative of Metro Hartford in the amount of $300,000 to administer the ADVANCE Initiative.
Read the full press release on CCAT's website at: http://www.ccat.us/press/releases?press_release_id=172 Formal announcement to come at 11am, 2/12/2010, at CCAT's offices with featured speaker: John Larson
The ADVANCE Training Grant Program will coordinate with ongoing programs and services of partner organizations to create a comprehensive approach to meeting the workforce needs of aerospace manufacturing companies and the career advancement potential and development of those industry workers. This dual customer approach will result in a stable, educated skilled workforce in a key manufacturing sector and enhance regional economic competitiveness. The Initiative will provide funding to qualified companies for employee training programs as well as link participating employees to available community support resources. The program will assess what skills are necessary to grow the business and propel workers upwards on the career ladder. The company can then apply to CCAT for funding through the ADVANCE Initiative to implement the training programs.
Among other requirements, qualifying companies include those that operate aerospace manufacturing companies in one of 57 towns in the Greater Hartford area. The initiative will focus on helping companies grow to create increased opportunities for employee progression and provide employees with additional skills needed to take on new responsibilities.
“It is imperative to continue to brainstorm creative and unique solutions to workforce development issues; especially in the current environment of economic downturn,” commented Elliot Ginsberg, President and CEO of CCAT, “The ADVANCE Training Grant Program provides a creative answer by looking at a workforce as a whole, not just on an individual basis. I am thrilled that CCAT has the opportunity to implement this program and I am confident it will present successful and quantifiable results.”
CCAT is currently accepting grant applications.
The Connecticut Center for Advanced Technology, Inc. (CCAT) helps private and public entities to apply innovative tools and practices to increase efficiencies, improve workforce development and boost competitiveness. CCAT functions as a unique economic development organization that combines expertise in cutting-edge technology with specialized centers of excellence in manufacturing, education, training, energy, and entrepreneurialism. Throughout these efforts, we promote partnership between industry, academia, and government to create a new collaborative framework for addressing 21st-century economic challenges. http://www.ccat.us
ABOUT Workforce Solutions Collaborative of Metro Hartford
Workforce Solutions Collaborative of Metro Hartford is a private/public partnership of organizations committed to a long-term, educated, economically self-sufficient workforce with skills needed by area employers. Investors include Capital Workforce Partners, Hartford Foundation for Public Giving, Nutmeg Foundation, United Way of Central and Northeastern Connecticut and National Fund for Workforce Solutions.
Other members are Bloomfield Chamber of Commerce, Capital Region Council of Governments, Connecticut Association for Human Services, Connecticut Business and Industry Association, Connecticut Center for Advanced Technology, Inc, Connecticut Community Colleges, Connecticut Council for Philanthropy, Connecticut Employment & Training Commission, Connecticut Women’s Education and Legal Fund, MetroHartford Alliance, and State of Connecticut: Office of Workforce Competitiveness.
Presented to an individual who has made outstanding career-long contributions of industrial laser applications in manufacturing operations, this year the Laser Industry Award recipient is Conrad M. Banas.
Connie, as he is better known internationally, retired as Chief Scientist from the Industrial Laser Division of United Technologies Corporation (UTC) after a stellar 40 year career. After obtaining a BSME from Worcester Polytechnic Institute in 1953 he began his career at UTC (then United Aircraft Corp.) doing experimental investigations of aerodynamic and thermal problems associated with fixed wing, helicopter, hypersonic aircraft and reentry vehicles.
His career in laser technology started in 1963, and in 1964 he used a pulsed Nd:YAG laser to drill the first holes in jet engine alloys. In the ensuing 25 years he established himself as an international leader in industrial applications of high power lasers.
Some of his accomplishments include: generating the first deep-penetration laser welds, evaluating Laser rock cutting for the U.S. DOT, leading teams in laser welding of lead acid batteries for Western Electric and the laser welding of air conditioning and transmission components for General Motors and Chrysler, and his work for Pratt & Whitney on jet engine combustor liner welding and drilling resulted in a savings of $50 Million. His innovative work has extended the life of jet engine components and has demonstrated a significant savings of manufacturing time and money.
These and many other industrial laser applications that were developed for manufacturing operations attest to the success of his pioneering approach to reduction of basic technology to cost and quality effective applications on the factory floor.
Professionally Connie is a recipient of several prestigious honors, including the LIA‘s Schawlow Award in 1997 for pioneering accomplishments in laser material processing and the AWS Comfort Adams Award for contributor to the art of welding. In addition to his BS degree he was awarded Masters in Mechanical Engineering and a Masters in Physics, both from the University of Connecticut.
CCAT's selection of Connie Banas as the first recipient of their Innovation Award sets the standard for future awardees as he benchmarks the goals which are the transition of industrial laser material processing technology into industry.
“Our first recipient represents the essence of this award” said Elliot Ginsberg, President and CEO of CCAT. “He has contributed throughout his professional career of 50 years to the significant transfer of innovative laser technology into the manufacturing sector.”
The award will be presented at the Symposium for Advanced Laser Applications (SALA). SALA 2010 will be held on April 14-15th at Renschler Field in East Hartford, Connecticut. For additional information on SALA contact Bob Murray at firstname.lastname@example.org.
Read the original press release online at: http://www.ccat.us/press/releases?press_release_id=173
February 2010 Report:
In January, job market activity in Connecticut dropped slightly compared to December. Employers are mulling whether to look for more staff after adding some over the past six months.
The exception is the Financial Services sector where demand for more professionals keeps growing. Demand in Healthcare fell for the third month in a row. Meanwhile there is a daily average of 790 job opportunities available for IT professionals in the state.
U.S. IT employment increased by 12,900 jobs, or 0.3%, in January, one of the best month-to-month gains since the recession hit in late 2008, the TechServe Alliance reported today. The positive news comes after the prolonged recession had reduced overall IT employment by some 200,000 jobs, based on analysis of U.S. unemployment data. The alliance's monthly calculations found that tech employment peaked in November, 2008, with some 4 million jobs. But in the first half of last year, IT employment fell off the cliff.... For the full article, visit: http://www.computerworld.com/s/article/9153838/IT_hiring_jumps_in_January
Sustainable Real Estate Solutions Inc.'s platform enables users to assess energy and sustainability-related risks
Connecticut Innovations (CI), the state’s quasi-public authority responsible for technology investing and innovation development, today announced that it has made a $500,000 investment in Sustainable Real Estate Solutions Inc. (SRS) of Monroe, Conn., through its Connecticut Clean Tech Fund. This investment is part of an $800,000 investment round also involving LaunchCapital and individual investors. SRS is the third company to receive assistance through this fund.
SRS’s flagship product, Sustainable Real Estate Manager™, provides a comprehensive set of energy and sustainability performance assessment and management solutions for the commercial real estate industry. SRS’s on-demand, web-based technology enables building management professionals, real estate investors, lenders, tenants and consultants to proactively assess and manage energy efficiency and sustainability-related issues to ensure optimal performance at both the individual property and overall portfolio levels. The company’s software-as-a-service (SaaS) platform is the industry’s first integrated solution for measuring and monitoring commercial real estate asset sustainability performance against several existing and emerging public and private benchmarks. The platform combines ENERGY STAR, LEED, ASTM, ASHRAE and CMP Green Value Score standards in a manner that rationalizes the relative strengths of each of these leading sustainability and energy benchmarking and rating systems. The platform also utilizes SRS proprietary indices including its energy efficiency based Local Market Benchmarking Index™ and CarbonCheck®, which determines potential carbon emission-related financial risk associated with a building’s energy consumption.
Governor M. Jodi Rell said, “Buildings account for 38 percent of our nation’s greenhouse gas emissions and 39 percent of our energy use; it is imperative that we develop tools, such as those being introduced by SRS, to help us improve these statistics and increase our sustainability.”
“SRS is delighted to be partnering with CI to launch its innovative solutions on a national and, shortly, international level,” said Brian McCarter, SRS founder and CEO. “CI’s understanding of the public policy, regulatory evolution and pure economics driving demand for SRS’s solutions make it a powerful strategic ally in building SRS’s position as a global leader in its rapidly developing industry.”
With climate change and energy efficiency emerging as a mainstream concern, sustainability is rapidly shifting from a peripheral, “feel good” issue to a central agenda item for businesses – one requiring focused action. Market forces, such as rising energy costs, combined with energy disclosure and green building regulatory requirements, are creating strong demand in the commercial real estate market for solutions that will improve sustainability. That demand, applied to a commercial real estate market consisting of over 9 billion square feet (excluding government-owned buildings), yields an enormous potential market for SRS’s tools.
“We are pleased to be supporting a company whose solutions will encourage the development of sustainable commercial buildings,” said Peter Longo, president and executive director of CI. “We are also pleased to be supporting a familiar entrepreneur. SRS founder Brian McCarter is a ‘repeat entrepreneur,’ who was part of the founding management team at Environmental Data Resources Inc., a former CI portfolio company. With Brian at the helm and a comprehensive solution in hand, SRS should be well positioned to penetrate this exploding market.”
Anil Vasagiri, CI director, investments, will represent CI on SRS’s board of directors.
About Sustainable Real Estate Solutions Inc.
Sustainable Real Estate Solutions Inc. (SRS) is a market pioneer and leader in on-demand energy and sustainability performance assessment and management software solutions for the commercial real estate industry. SRS's flagship platform Sustainable Real Estate Manager™, is an Internet-based, "Software as a Service" enabling building owners, operators, investors, lenders, tenants and consultants to proactively assess, benchmark and optimize the energy and sustainability performance of individual properties and portfolios. The SRS global platform provides an industry “best practice” solution providing uniform, auditable management of both U.S. and international real estate portfolios.
For more information about SRS, please visit www.SRMnetwork.com
For more information about Connecticut Innovations, please visit www.ctinnovations.com
As in any budget there are winners and losers, but for the tech-based economic development community, there are far more winners than losers in the Obama Administration's FY11 budget proposal.
Percentages referenced in this summary reflect the change from FY10 appropriations.
Among the winners: The National Science Foundation, NIST laboratories, and the Department of Energy's Office of Science continue on the path to doubling their budgets. The Administration tries to move regional innovation and clusters forward with proposals in a number of agencies, including:
- $75 million in the Economic Development Administration in the Department of Commerce for regional planning and matching grants within EDA to support the creation of Regional Innovation Clusters
- $135 million in budget authority at the U.S. Department of Agriculture for a Regional Innovation Initiative for rural communities which could translate to $280 million in program activities
- $108 million at the Department of Labor for the proposed Workforce Innovation Fund that would provide funding for the demonstration of promising new ideas and for the replication of proven practices
- $11 million at the Small Business Administration to support enhanced small business participation in regional economic clusters by awarding competitive grants to facilitate greater coordination of resources
- The Manufacturing Extension Partnership would increase by 4 percent to $129.7 million.
- The Technology Innovation Program (TIP) would increase 14 percent or $10 million to $79.9 million.
- The U.S. Global Change Research Program would increase 21 percent or $439 million to $2.6 billion. The program is designed to improve understanding of uncertainties in climate science, expand global observing systems, develop science-based resources to support policymaking and resource management, and communicate findings broadly.
- The National Oceanic and Atmospheric Administration's (NOAA) R&D budget would increase by 22 percent or $171 million to $949 million.
- The Advanced Research Projects Agency-Energy (ARPA-E) would receive its first regular appropriation of $300 million.
- New and previously approved Energy Innovation Hubs would receive $107 million through the Department of Energy.
- The Department of Energy would launch a new $50 million program, Regaining our Energy Science and Engineering Edge (RE-ENERGYSE) to inspire students and workers to pursue careers in science, engineering, and entrepreneurship related to clean energy.
- Solar energy, wind energy, and geothermal energy programs in the Department of Energy's Office of Energy Efficiency and Renewable Energy would all see double digit percentage increases.
- Myriad National Science Foundation programs are proposed for increases, some double digit increases, including Partnerships for Innovation (109 percent increase), the Engineering Research Centers (22.9 percent increase), Science and Technology Centers (14.3 percent increase), and the Experimental Program to Stimulate Competitive Research (EPSCoR) (4.9 percent increase).
- The total amount spent on Pell Grants for college students would increase by 29 percent or $7.9 billion to $34.9 billion.
Among the losers:
- One of the most publicized budget casualties was NASA's Constellation program, the program to return astronauts to the moon. Coming on the heels of the findings of the Review of U.S. Human Space Flight Plans Committee, the shift in strategy away from returning to the moon was not surprising.
- NSF programs that did not fare as well as some others in the agency, include: the National Nanotechnology Initiative (3.9 percent decrease), Nanoscale Science and Engineering Centers (13.1 percent decrease), the Industry/University Cooperative Research Centers (level funding), and the Education and Human Resources Directorate with a 2.2 percent increase.
- The Department of Defense's Research, Testing, Development and Evaluation (RTD&E) would receive $71.6 billion (5 percent decrease). RTD&E spending supports defense modernization through basic and applied research, fabrication of technology-demonstration devices, and development and testing of prototypes and full-scale preproduction hardware. The Department of Homeland Security's Science and Technology Directorate would receive $1 billion (1 percent decrease).
- The Office of Fossil Energy in the Department of Energy would be cut by 20 percent to $760.4 million.
A detailed write-up in a special pdf report on the FY11 budget proposal can be downloaded here. Agencies included in the report are:
- Department of Agriculture
- Department of Commerce
- Department of DefenseDepartment of Education
- Department of EnergyDepartment of Health and Human Services
- Department of Homeland Security
- Department of Housing and Urban Development
- Department of the Interior
- Department of Justice
- Department of Labor
- Department of Transportation
- Department of Treasury
- Environmental Protection Agency
- National Science Foundation
- Regional Commissions and Authorities
- Small Business Administration
Redistributed with permission, credit to: State Science & Technology Institute