Connecticut Technology Council

Matthew Nemerson talks to WNPR about crowdfunding

Entrepreneurs all over the country are buzzing about crowdfunding. A new federal law will make it possible for small companies to attract investors online. But not everyone in Connecticut is thrilled about the new rules. WNPR’s Harriet Jones reports.

Earlier this month President Obama signed into law the JOBS Act, a measure with rare bipartisan support.

 Matthew Nemerson, President of the Connecticut Technology Council, says this new law could potentially speed up the pace of innovation.

“I think what we’re really doing here is reducing some of what have become very onerous costs of going public. And I think we’re looking at pools literally of billions of dollars around the country and around the world that are looking for new technology to invest in.”

To Read the Entire Transcript Click Here.

For more information about Crowdfunding: Click Here

 

 

Great Energy & Ideas at Startup Weekend: Stamford, 04/01/2012

Congratulations to MyStuDebt for getting first place at Startup Weekend Stamford. The Teams in the second and third place were Be Beautiful and Agricomm Weather.

There were many terrific startup ideas presented, and many potential businesses in the pipeline. We look forward to seeing the success of groups move beyond this weekend.

Slideshow of the events on Flickr.

Top Winners:

• 1st Place: MyStuDebt (Michelle Laviree and Amee Patel, @mystudebt):  Helping students manage and repay their loans.
• 2nd Place: Be Beautiful (Katherine Yarborough): BeBeautiful is an online clothing exchange where women can buy and sell clothes and be a part of an online wellness community.
• 3rd Place: Agricomm Weather (Linda Woods, #Agricomm): AgriComm Weather is a fully-customizable weather dashboard, created specifically for the agricultural commodity market.

Honourable Mention:

- Risknicity (Greg Berg, #Risknicity):Making buying car insurance as easy & as social as sharing photos on Facebook.

-Love Squadron (Kip Steele, #LoveSquadron)  Service that allows you to ask your friends to help you plan the perfect date.

Other Participants:

• Caregiver Roadmap
  
• Challenge Good
  
• Enerknol
  
• Gabinja                                                                    
• Palobo
  
• The SuperHero Academy
  
• Webcard
  

Thanks go to the:

Speakers:

Richard Blumenthal, US Senator for Connecticut

Jonathan Yarmis, Doctor Disruptive

Bob Dorf,Startups Owner Manual

Art Shulman, Former COO Priceline Gasoline

Erik Endress, CEO Share with 911

Joe Rutledge, Former CMO Priceline.com

 

Mentors:

Doug Campbell, CEO, SuccessCoach

Joe DeMarco, Ponus Ridge Investments

Richard Guha,Max Brand Equity

David Furth, Leap the Pond

Ira Yellen, First Experienc Communications

Leonard Vignola, Beacon Partners

Anand Katragadda

Lafir Thassim, UBS Investment Bank

Alex Zesch,VP Technology and Marketing, IRA Market

Cindy McLaughlin,CEO, Style for Hire

McAdory Lipscomb Jr.,Founder, CEO Coach

Liwen Yaacoby

Michael Grunei,William Perrone (William and Diggins)

Kelly Hadous,Win The Room™

Scott Fuller,Business Advisor

Judges:

Joe DeMartino,Former President, Angel Investor Forum

Dale Kutnick,SVP, Gartner

Steve Obsitnik, Candidate for U.S. Congress (CT 4th District)

Geoff Schneider, Founder, Cava Capital

Konstantine Drakonakis, Director, New Haven, Launch Capital

Pauline M. Murphy, Managing Director, Investments, Connecticut Innova

Bill Gordon,Entrepreneur In Residence, Stamford iCenter

 

 

Connecticut IT Jobs Report April 2012

Labor demand for IT specialists in Connecticut declined slightly in March. Online job postings decreased 2.5%, with employers providing a daily average of 770 opportunities. Nevertheless,the job seekers in Connecticut fared better than those in other states.

Employer participation in the job market was mixed. While postings in Healthcare and Financial Services declined, there were additional openings with HiTech and Insurance companies.

Read the Full Report:Download Skillproof IT

Connecticut Report April 2012.                                                        

View Archive of Connecticut IT Jobs Trends Reports

Click here for a range of data and articles on the

economic outlook for Connecticut, prepared                                                       

by the US Bureau of Labor Statistics

See the data for unemployment among

all New England States

Technology Incubators Post Impressive Gains

Technology-focused incubators long have been praised by economic development professionals for their essential role in helping entrepreneurs succeed and populating regional economies with high-tech jobs. A number of incubators recently have unveiled data to support that view, including the first impact report from Detroit's TechTown and an annual progress report from the Birmingham Innovation Depot, which posted impressive results in 2011.

Recent announcements of new incubators launching across the U.S. and those citing notable impact measures is included below.

Detroit's TechTown revealed that between 2007 and 2011, they helped 647 companies create more than 1,000 jobs and raise $84 million in startup capital. Additionally, active and graduate clients generated a combined total of $52 million in revenue in 2011, up from $41 million in 2010. The report highlights successful companies supported through TechTown's entrepreneurial programs, which include mentoring, financing, and access to Wayne State University's research, academic and technology assets.

Birmingham's Innovation Depot released its annual progress report, which revealed companies supported by the incubator posted record sales figures in 2011. The incubator is home to 84 companies and graduated 10 companies last year. Over the last four years, tenant companies had an economic impact of $1 billion, reportsAlabama Live.

New York Mayor Michael Bloomberg announced that 22 technology-focused companies have graduated or soon will graduate from a city-sponsored business incubator launched three years ago. Approximately 550 companies are located within the 10 city-sponsored incubators and those companies have raised more than $78 million in investor funding, according to a news release.

The University of Washington (UW) opened the New Ventures Facility with the goal of doubling the number of startups produced by UW over the next three years. The new facility initially will host up to 15 companies with room for 25 companies when the space is completed.

With funding from the Maine Technology Institute and Blackstone Charitable foundation, three small business incubators joined to form the Maine Incubation System (MEBIS) to increase the number of entrepreneurs reached across the state. MeBIS will provide business assistance and improve technology infrastructure, specifically through the creation a cloud technology network.

 

Tech Trends - article picks from SSTI staff, Week of 04/02/12

U.S. Manufacturing Office Seeks Input on Program Design for $1B Initiative 
The U.S. Advanced Manufacturing National Program Office will hold its first workshop to help design a national network of regional manufacturing innovation hubs on April 25 at the Rensselaer Polytechnic Institute in Troy, NY. The event will be the first in a series of meetings to gather ideas from industry, academia and government participants on how to best structure the proposed National Network for Manufacturing Innovation. The president's FY13 budget requests $1 billion for the initiative to create up to 15 regional institutes, which will help develop industry-relevant manufacturing technologies. Read the announcement...

Obama Administration Announces $200M in Data-Driven R&D 
Six federal departments and agencies today announced a total of $200 million in commitments to support R&D related to the manipulation of large data sets. The Big Data Research and Development Initiative will invest in efforts to improve our ability to extract knowledge from large collections of digital data. The announcement comes in response to recommendations issued last year by the President's Council of Advisors on Science and Technology, which found that the federal government was under-investing in data science. Learn more...

New SBA Online Portal to Connect Small Businesses with Corporate Supply Chains 
The SBA announced Supplier Connection, a private-public collaboration intended to help small businesses strengthen their revenue streams by gaining access to more than $300 billion in combined supply chain spending by a consortium of 15 of America's largest corporations. Supplier Connection, a free online portal created by the IBM Foundation, allows small businesses to send information about their products and services to 15 large private sector companies. The Obama administration hopes it will help bridge the gap between small, nimble businesses looking for new opportunities and large corporations looking for innovative new ideas and diversity in their supply chains. Visit the Supplier Connection website...

Inside Higher ED: Stem Cells Revisted 
State level threats to stem cell research are on the rise as the policy debate at public universities heats up in Michigan and Nebraska. At the same time, the issue remains absent on the presidential campaign trail.Read more ...

New Book Explores Methods to Foster Innovation in the Workplace 
Science writer Jonah Lehrer explores where innovative thoughts originate and how some companies are creating environments where they are more likely to occur. Read more ...

Five Trends Shaping Workforce of Advanced Economies 
A growing skills mismatch and geographic imbalance are highlighted in the McKinsey Global Institute's latest discussion paper, which explores the forces shaping new jobs created, who fills them, where they are located, and what they pay. Read more ...

Nominations Open for Excellent K-6 Math and Science Teachers 
The nation's highest honor for math and science teachers recognizes the most inspiring teachers. Awardees receive $10,000 from the National Science Foundation, professional development opportunities and more. Nominations are due April 1. Read more ...

Benefits to Public Workers Cut by 43 States over Three Years 
NCSL highlights major changes in state retirement plans to address long-term funding issues from 43 states in 2009-2011. Read more ...

Consumer Survey Reports U.S. Economic Model Broken 
A recent consumer survey found working Americans feel as worried about their financial situation today as they did a year and one-half ago. A striking 63 percent of respondents think the U.S. economic model no longer works for most Americans. Read more ...

BLS Reports 3.1M U.S. Jobs Were Green in 2010 
California had the largest number of green jobs and Vermont had the highest percentage of employment in green goods and services at 4.4 percent. Read more ...

Patent Decision Could Be Setback for Life Sciences Industry 
A recent Supreme Court ruling could affect the patentability of life-sciences inventions developed at universities and other research institutions. Read more ...

Minority Biomedical Entrepreneurship Conference in Cleveland 
The America21 Project and BioEnterprise are hosting the first annual event May 21-22. Attendees can connect with capital investment resources and learn about trends. Read more ...

CTC's, Matthew Nemerson Speaks to WNPR from Jinian, Shandong Province, China

Harriet Jones of WNPR reports: Shandong is Connecticut’s sister state and Matthew Nemerson, CEO of the Connecticut Technology Council is among a few of the original delegates from the first mission back in the 1980s to have returned to Shandong this week.

“A very small and hopeful state 25 years ago. Now a larger economy than Germany, it seems.”

Speaking to WNPR from the city of Jinan he says business meetings have been proceeding alongside diplomacy.

For the entire Transcript click here

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In the news: 3/14/2012 article by David Krechevsky, Republican-American -
State, feds to promote Conn. firms during trade mission to China The Republican-American.

3/14/2012 Back to Shandong Province - Opportunity for Tech Firms

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For other articles on this subject

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Mayor Drew visits China to bring potential investors to Middletown

MIDDLETOWN — Mayor Dan Drew is returning this weekend from a week-long trip to China meant to recruit possible investors for the Aetna property specifically and Middletown in general.

The week-long trip took the delegates through Beijing, Shanghai and the industrial and technology manufacturing cities in the state of Shandong.

Click Here for the Full Article : MiddleTown Press

Also Check out this Article on CTC's  Blog 

Tech Trends - article picks from SSTI staff, Week of 03/26/12

Most Americans Doubt U.S. Will Lead In S&T Through 2020, Survey Shows 
Only 42 percent of Americans believe that the U.S. will maintain its dominance in science and technology through 2020, according to a recent survey by Research America. Americans also appear to expect that this change will have dire consequences. Sixty-four percent believe that it is important that the U.S. lead in R&D, and 78 percent believe that S&T leadership is important to U.S. competitiveness. Science, innovation and health ranked above "the environment" and "faith and values" in importance for future presidential debates, according to survey respondents. Read the report...

Battle over Regulating Crowd funding in JOBS Act 
Investors and entrepreneurs argue the old securities paradigm doesn't work for regulating crowd funding while state regulators are urging added protection for investors. Read more ...

Crowdfunding Platform Dedicated to Scientific Research 
Petridish.org allows only science entrepreneurs to pitch ideas to the open web in exchange for a 5 percent cut for successfully funded projects Read more ...

Are Small Businesses Really the Job Creators? 
Seeking advice from four experts in labor and small business, this article examines whether or not government support for small businesses is the best way to climb out of the recession. Read more ...

World's Work Force Rapidly Shrinking 
Nearly half the world's population is living in countries with birthrates below the replacement level. Rapidly aging Japan has one of the worst demographic profiles. Read more ...

Higher Enrollment, Less Funding for Higher Ed in 2011 
The ninth annual State Higher Education Finance survey finds funding for public colleges and universities continued to decrease between 2010 and 2011. Read more ...

Stateline: Higher Education Funds Begin Slow Recovery 
On the upside, experts say the number of states boosting higher education funding is expected to increase this year. In some cases, this comes with strings attached in the form of performance-based funding.Read more ...

Conference Promotes Innovative Data Sources for Regional Economic Analysis 
The GW Institute of Public Policy conference on May 7-8 also offers data-providing organizations the opportunity to interact with and get feedback from users Read more ...

Attributed to: State Science and Technology Institute

Massachusetts releases its "2011 Index of the Massachusetts Innovation Economy"

The Massachusetts Technology Collaborative's John Adams Innovation Institute has released its 2011 Index of the Massachusetts Innovation Economy, an annual review of the Commonwealth's high-tech economy through 25 indicators. Each year, the index tracks Massachusetts' progress in these indicators, along with comparisons to other U.S. states and national economies. In addition to Massachusetts, the 2011 edition provides indicator data for comparison from seven leading technology states, including California, Connecticut, Maryland, Minnesota, New Jersey, New York, North Carolina, Pennsylvania and Virginia. Highlights from the 25 indicators include Industry cluster employment and wages, patenting activity, R&D performed, business formation, funding for R&D, and talent flow and attraction.

Massachusetts' innovation once again ranks impressively next to its benchmark state and national economies, though the report notes that several indicators have had a downward trend over the past few years. The state leads the U.S. in per capita venture capital and SBIR awards, but that lead has shrunk since 2000. Employment in the state increasingly has become concentrated in key innovation sectors, and maintained its high rate of entrepreneurship activity throughout the recession. Massachusetts must now find ways to better fund higher education and get its students interested in STEM fields.

Download the report...

U.S. Manufacturing Suffered Its Worse Decade Since the Great Depression, According to ITIF Report

"In the 2000s, U.S. manufacturing suffered its worst performance in American history in terms of jobs. Not only did America lose 5.7 million manufacturing jobs, but the decline as a share of total manufacturing jobs (33 percent) exceeded the rate of loss in the Great Depression," according to a new report from the Information Technology & Innovation Foundation (ITIF). In Worse Than the Great Depression: What the Experts Are Missing About American Manufacturing Decline, ITIF contends that there is a fundamental flaw in the conventional wisdom regarding U.S. manufacturing job loss. Most economists, pundits and elected officials maintain manufacturing job loss is a result of productivity-driven restructuring, similar to the U.S. agriculture sector that has lost jobs but remains healthy due technology-driven increased productivity. However, the authors provide two methodological flaws that have led to poor data and shaped conventional wisdom:

• Most economists and pundits do not extend their analysis beyond one macro-level number — change in real manufacturing value-added relative to real gross domestic product — which at first glance appears stable; and,
• More fundamentally, U.S. government statistics significantly overstate the change in U.S. manufacturing output, and by definition productivity, in part because of massive overestimation of output growth in the computer and electronics sector and because of problems with how manufacturing imports are measured.

In drastic contrast to conventional wisdom, the authors contend that U.S. manufacturing job loss should be attributed overridingly to the decline in U.S. manufacturing output. Although productivity-driven restructuring plays a role in job loss in select manufacturing sectors, U.S. manufacturing productivity has been overstated and manufacturing outputs have fallen since 2000. Using alternative data analysis methods, the authors found several "corrections" to data regarding manufacturing in the 2000s that support their claims including:

• U.S. manufacturing labor productivity growth was overstated by a remarkable 122 percent;
• Although manufacturing output was reported as 16 percent rate increase, it actually fell by 11 percent; and,
• If manufacturing output had "grown at the same rate as that of the rest of the business sector," the U.S. currently would have approximately 13.8 million more jobs.

This drop in productivity is mostly the result of the failure of U.S. policies related to manufacturing and the lack of national manufacturing strategy, according to the authors. They also attribute some of the lost productivity to the policy of competing countries. Some countries have manipulated the international system through some manipulated by "egregious foreign mercantilist" policies. Most countries, however, have supported their manufacturing sectors through "better national competiveness policies," including significantly lower corporate tax rates.

By adopting policies related to the "four T's (Tax, Trade, Talent and Technology)," ITIF argues that the U.S. will regain its manufacturing competiveness and balanced its trade defecit in manufacturing products in less than a decade. This would lead to "millions of higher-than-average-wage manufacturing jobs, as well as an even greater number of jobs from the multiplier effect on other sectors of the economy." Read the report...

Attributed to: State Science & Technology Institute